European economic growth has been weak, compared to the US, since the 80s. In previous work (Krueger and Kumar, 2003), we argued that the European focus on specialized, vocational education might have been effective during the 60s and 70s, but resulted in a growth gap relative to the US during...

The organizational literature documents the upheaval that incumbent firms, across numerous industries, often experience when they confront technological change. Much of this work is based on evidence drawn from US firms. A separate literature drawn from institutional economics shows that...