Maastricht 2042 and the Fate of Europe: Toward Convergence and Full Employment

James K. Galbraith

Economics Public Policy Brief Archive from Levy Economics Institute

Abstract: Unemployment in the European Union (EU) is a serious problem that threatens to disrupt the integration of accession countries, the character of individual countries, and the continued existence of the EU. According to Senior Scholar James K. Galbraith, European integration poses a huge conundrum for European employment because the conventional theory explaining unemployment in EuropeÐlabor market rigiditiesÐis wrong. The application of this policy will not cure European unemployment, but it could destroy the economic promise of the EU for its poorer regions and the accession countries.

Date: 2006-11
New Economics Papers: this item is included in nep-eec, nep-mac and nep-pke
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