Wettbewerb und Leistung auf zwei ungewöhnlichen Märkten

摘要

This article argues that the European Union needs more competition in the market for corporate control and in the academic market. Evidence is presented of poor investment performance by Continental European companies relative to companies in Anglo-Saxon countries. The article claims that an important reason for this is that hostile takeovers are much easier to undertake in the Anglo-Saxon countries. Evidence is also presented regarding the underfunding and lack of competition among universities in Continental Europe relative to the United States. To improve the quality of Continental European universities they need to have more resources. These can be obtained by charging higher tuition fees for university education and through greater emphasis on alumni contributions. In addition, Continental Europe needs more competition among universities for both students and faculty.