This book explores how two nations with widely divergent political economies, Germany and the United States (U.S.), embraced change in four contemporary settings. "Mutual Learning with Trade-Offs" (Kirsten Wever) discusses mutual learning and the distinguishing characteristics of the political economies of Germany and the U.S. "Deregulation and Restructuring in Telecommunications Services in the U.S. and Germany" (Rosemary Batt, Owen Darbishire) emphasizes the interplay between organizational and institutional change and labor-management relations. "Institutional Effects on Skill Creation and Management Development in the U.S. and Germany" (David Finegold, Brent Keltner) illustrates how the strengths of each country are mirrored in the weaknesses of the other. "National Institutional Frameworks and Innovative Industrial Organization" (Steven Casper) compares two efforts at mutual learning and innovation in the area of supplier relations and shows how cumbersome institutional change can be in Germany and how the U.S. affords its private sector greater latitude to adopt new systems. "Perils of the High and Low Roads" (Lowell Turner et al.) examines contemporary employment relations . It describes Germany's struggle with taking the "high road," including high wages, high-level skills, and high labor-value added in a highly institutionalized market, and how the U.S., taking the "low road," faces stagnant wages, income inequality, continuing union decline, and highly fragmented systems of employment relations embedded a diverse political economy. (Each article contains references. Includes cited author and subject indexes.) (YLB)