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Thursday, 19th April 2012

The Case for Renewing Transatlantic Capitalism

Source: demosEUROPA

This paper concludes a series of meetings and policy discussions held since the end of 2010 as part of the project on New Atlantic Capitalism. Our objective has been to examine the pressing economic challenges facing both the EU and the US as a consequence of the financial crisis, the Great Recession and the crisis in the euro area, focusing on the transatlantic points of convergence and divergence. We conclude that the US and Europe will walk separate ways at their own peril. We suggest that only by joining forces can the transatlantic community most effectively respond to these economic challenges, protect American and European interests and help ensure the prosperity and peace that has been the post-war legacy of the transatlantic alliance.

Transatlantic capitalism has long been the defining economic relationship in the world economy. Trade and investment between Europe and the United States dwarf all other commercial relationships. The democratic and market-oriented values and practices that gave rise to transatlantic capitalism are the foundation of globalization. Yet Europe and the United States now face profound challenges to their economic model. The recent financial crisis has exposed deep-seated and long-ignored structural economic shortcomings on both sides of the Atlantic. At the same time, the emerging economies of China, India and Brazil pose unprecedented philosophical and practical challenges to both the tenets and the practice of transatlantic capitalism. Only through joint effort can Europe and the United States reinvigorate economic growth and job creation, overcome the shortcomings of transatlantic capitalism and insure that their economic model prevails in the global economy.

+ Link to report from this page (PDF; 1.1 MB)



Having begun his career in academic libraries, Adrian Janes has subsequently worked extensively in public libraries, chiefly in enquiry work as an Information Services librarian. In this role he has had particular responsibility for information from both the UK Government and the European Union. He wrote a detailed report on sources for the latter which was published by FreePint in 2007, and has contributed articles to FreePint and ResourceShelf. He is involved in training in information literacy and the use of online reference resources.

A Contributing Editor to DocuTicker, he also write reviews for Pennyblackmusic.

More articles by Adrian Janes »

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