Time for a Nordic business history initiative?

The current state of Nordic business history is by certain estimates better than ever. Nordic business historians publish extensively in leading international journals and have a strong presence at international business history conferences. Still, in this discussion article we raise a yellow flag of warning for the future of Nordic business history. We argue that the subject field is challenged along three important dimensions: (i) lack of relevant teaching, (ii) continued reliance on commissioned history and (iii) limited recruitment. The article discusses these challenges and seeks to place them in a historical perspective. For each challenge, we develop a set of concrete proposals to address the problems identified. A common theme in our proposed solutions is to intensify Nordic collaboration, particularly through the establishment of common, externally funded Nordic research projects. To create meeting grounds for the development of such projects, The Scandinavian Society for Economic and Social History – the formal collaborative body for Nordic economic historians and the owner of Scandinavian Economic History Review – should be reinvigorated.     

INTRA-HOUSEHOLD INEQUALITY: A CHALLENGE FOR THE CAPABILITY APPROACH?

In this paper, the author examines the capability approach and how it applies in the context of individuals and families living together on unequal terms. The interpretations of agency, freedom, and choice in Sen's framework are analyzed from a feminist perspective, and the author suggests that these important concepts invite special attention in the presence of domestic power imbalances. Problems with the interpretations embedded in the capability approach are pinpointed and adjustments proposed. Drawing on the vast literature on household behavior in developing countries, the author argues that capabilities have a distinctly interdependent dimension. While the discussion of agency in the capability approach has been either normative or policy-oriented, exercises that seek to evaluate individual well-being should pay more attention to the existence of alternative types of power within the realm of the household.     

Multiple Wage Bargaining Systems in the Single European Currency Area

Little attention in the EMU literature has been paid to the interaction between centralbank monetary rules and systems of collective wage bargaining. Analytically andempirically, coordinated wage bargaining systems respond with real wage restraintto non-accommodating monetary policy. Since wage determination is dominated bycollective bargaining in all the EMU member states and wage coordination within themember states has grown since 1980, this is a topic of potential importance. In particular, the replacement of the Bundesbank, directly targeting German inflation, by an ECB targeting European inflation has removed a major institutional support of wage restraint in Germany. The consequences of this for EMU are worked out under two scenarios, that inflation expectations will be generated by ECB monetary policy and that they will reflect German inflation outcomes. Possible institutional developments are discussed including government-union bargains. The Bundesbank has also played a major role in maintaining fiscal rectitude by targeting excess fiscal deficits in Germany: again its replacement by the ECB – targeting (if at all) European rather than German fiscal policy – loosens fiscal constraints. For underlying structural reasons therefore, it is possible that Germany and other EMU countries will move to a period of fiscal activism with wage restraint and low inflation purchased through social contract negotiations.