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American Multinationals in EuropeManaging Employment Relations Across National Borders$
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Phil Almond and Anthony Ferner

Print publication date: 2006

Print ISBN-13: 9780199274635

Published to Oxford Scholarship Online: September 2007

DOI: 10.1093/acprof:oso/9780199274635.001.0001

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Overview of the US Business System

Overview of the US Business System

Chapter:
(p.37) 3 Overview of the US Business System
Source:
American Multinationals in Europe
Author(s):

Ian Clark (Contributor Webpage)

Phil Almond (Contributor Webpage)

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199274635.003.0003

This chapter examines the distinctive and evolving nature of the American model of capitalism, emphasizing the links between embedded features of the US national business system through a review of its historical development. It argues that American industrial capitalism developed against a background quite different to those of European countries, with ongoing effects on the nature of product, financial and labour markets, and on prevalent patterns of production and work organization. The effects of the US business system on patterns of industrial relations, particularly the divide between welfare capitalist and New Deal firms, is also introduced. Recent challenges faced by US firms in the areas of work organization and human resource management are briefly considered. The issue of the transferability of elements of US multinatinals’ domestic management systems to foreign subsidiaries is raised.

Keywords:   national business system, industrialization, work organization, US business history, industrial relations, US multinationals

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