Hurrah For Europe's Corporate Cowboys

European governments and workers loathe the "Wild West" tactics of American management. Far from the heroes they are at home, American managers like Jack Welch are viewed in Europe as the agents of run-amok laissez-faire economics. By contrast, European managers are expected to work in partnership with labor and government in a consensus-based system. But double-digit unemployment and low economic growth rates signal that something has gone badly wrong with the consensus model. It has been misappropriated by fearful unions and vote-seeking governments to gain refuge from the harsh realities of global competition.

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