As the title suggests, this first-rate book covers a lot of ground. At the core is a pioneering analysis of the way national financial systems facilitate or hinder the conduct of industrial policy. A broader focus is on how the different relations of government and market in Japan, France, Germany, Britain and the U.S. affect each country's ability to cope with changes in the international economy. All these financial systems are shown to be subject to new challenges that differ a good bit from one another. What they have in common, the author reminds us, is that they have provided the foundations for acceptable political systems which may also be called into question if they cannot cope with economic problems.