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Future of Europe Reform or Decline

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ISBN-10: 0262512041

ISBN-13: 9780262512046

Edition: 2006

Authors: Alberto Alesina, Francesco Giavazzi

List price: $18.95
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Unless Europe takes action soon, its further economic and political decline is almost inevitable, economists Alberto Alesina and Francesco Giavazzi write in this provocative book. Without comprehensive reform, continental Western Europe's overprotected, overregulated economies will continue to slow--and its political influence will become negligible. This doesn't mean that Italy, Germany, France, and other now-prosperous countries will become poor; their standard of living will remain comfortable. But they will become largely irrelevant on the world scene. In The Future of Europe, Alesina and Giavazzi (themselves Europeans) outline the steps that Europe must take to prevent its economic and political eclipse. Europe, the authors say, has much to learn from the market liberalism of America. Europeans work less and vacation more than Americans; they value job stability and security above all. Americans, Alesina and Giavazzi argue, work harder and longer and are more willing to endure the ups and downs of a market economy. Europeans prize their welfare states; Americans abhor government spending. America is a melting pot; European countries--witness the November 2005 unrest in France--have trouble absorbing their immigrant populations. If Europe is to arrest its decline, Alesina and Giavazzi warn, it needs to adopt something closer to the American free-market model for dealing with these issues. Alesina and Giavazzi's prescriptions for how Europe should handle worker productivity, labor market regulation, globalization, support for higher education and technology research, fiscal policy, and its multiethnic societies are sure to stir controversy, as will their eye-opening view of the European Union and the euro. But their wake-up call will ring loud and clear for anyone concerned about the future of Europe and the global economy.
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Book details

List price: $18.95
Copyright year: 2006
Publisher: MIT Press
Publication date: 9/26/2008
Binding: Paperback
Pages: 200
Size: 6.00" wide x 9.00" long x 0.50" tall
Weight: 0.616
Language: English

Pranab Bardhan is Professor of Economics at the University of California, Berkeley. He is the author of Scarcity, Conflicts, and Cooperation (MIT Press, 2004) and coeditor (with Christopher Udry) of Readings in Development Microeconomics, Volumes I and II (MIT Press, 2000).Alberto Alesina is Nathaniel Ropes Professor of Political Economics at Harvard University. He is the coauthor (with Enrico Spolaore) of The Size of Nations (MIT Press, 2003).

Francesco Giavazzi is professor of economics at Bocconi University, Italy, and visiting professor of economics at the Massachusetts Institute of Technology. He is a research associate of the NBER.

Preface
Introduction
Europe and the United States: Two Different Social Models
Handling a Multiethnic Society
Americans at Work, Europeans on Holiday
Job Security, Job Regulations, and 14 Million Unemployed
Technology, Research, and Universities
Competition, Innovation, and the Myth of National Champions
Interest Groups against Liberalization
The Judicial System and the Cost of Doing Business
Conflicts of Interest in Financial Markets
A United Europe?
The Rhetoric of Dirigisme and Coordination
The Euro
Budget Fixes
A Wake-up Call for Europeans
Index