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The restructuring of work in Britain

). Indeed, the City of London had established itself as the world’s centre for commodity trade by the late eighteenth century, and was relatively decoupled from industrial production. As a commercial centre the practices of the City of London were reproduced to serve the short-term needs of commercial activity, rather than the longer horizons of indigenous production (Ingham, 1984). On the one hand, it became possible for industry and finance to be defined and managed as distinct and separate realms. Meanwhile, on the other hand, tensions and contradictions continued to

in Globalisation contested
The restructuring of work in Germany

heavy industries required the concerted harnessing of capital, framing an ‘enabling’ role for the state in structuring bank-industry relations. The capital requirements of indigenous industries – investments in production and materials, technologies, education and training – were legitimated as domains for state intervention (Hobsbawm, 1975: 41-45). During the period of postwar reconstruction, the tripartite relationships between state, banks and industries were revisited, with banks reinforced as the key providers of capital for industry and, indeed, given a function

in Globalisation contested