CAMBRIDGE: Everybody agrees: Europe needs a revolution of its economic structure. But how to achieve this is another matter altogether. Advocates of the status quo note that there is no crisis, so why rush? They place their faith in a gradual restructuring and, above all, in the myriad high-tech companies now being started by the young. Somehow, they reckon, the information revolution will arrive in a European way. From here it is but a short step to proclaiming that the American model cannot work in Europe because it is socially reprehensible and, in any case, poised to crash any day now.
CAMBRIDGE: Everybody agrees: Europe needs a revolution of its economic structure. But how to achieve this is another matter altogether. Advocates of the status quo note that there is no crisis, so why rush? They place their faith in a gradual restructuring and, above all, in the myriad high-tech companies now being started by the young. Somehow, they reckon, the information revolution will arrive in a European way. From here it is but a short step to proclaiming that the American model cannot work in Europe because it is socially reprehensible and, in any case, poised to crash any day now.