What is Wrong with the West’s Economies? An Alternative View

John Hudson

Homo Oeconomicus: Journal of Behavioral and Institutional Economics, 2016, vol. 33, issue 1, No 4, 19-24

Abstract: Abstract The paper examines several aspects of developed countries with a particular focus on Europe. It argues that despite problems and qualifications, Europe is still in many respects a desirable part of the world in which to live, where people can fulfill their aspirations with a degree of safety. Having said that, Europe faces many problems. Any solution to Europe’s problems must encompass innovation. In this respect Europe’s record is better than many argue, but still there is a need to do better and to place innovation at the very core of policy making. High quality research institutions are valuable here, but too often their work is taken up by non-European multinationals. This is a time of enormous change and issues such as quantitative easing and robotics are also briefly touched upon, in particular their economic and societal impact.

Keywords: Innovation; Wellbeing; Europe; Research institutions; Fall of nations; Inequality (search for similar items in EconPapers)
JEL-codes: A1 B4 D63 D64 I32 (search for similar items in EconPapers)
Date: 2016
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DOI: 10.1007/s41412-016-0012-5

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