Europe is in crisis. Sluggish economic growth in many countries,
widespread income stagnation, and recession have led to severe political
and social consequences. Social protections for citizens have been cut
back. Governments offer timid responses to deep-seated problems. These
economic and political failures have contributed to the rise of
extremist parties on the right. Marginalized populations are being made
scapegoats for Europe's woes. But the problems of today's Europe stem
from decisions based on a blind worship of markets in too many areas of
policy.
If Europe is to return to an innovative and dynamic economy--and if
there is to be shared prosperity, social solidarity, and justice--then
EU countries need to break with their current, destructive trajectory.
This volume offers concrete strategies for renewal that would also
reinvigorate the project of European integration, with fresh ideas in
the areas of both macroeconomics and microeconomics, including central
banking, public investment, corporate governance and competition policy,
social policy, and international trade.