We Need An Industrial And Innovation Policy For Europe, di Davide Antonioli, Paolo Pini, Social Europe Journal, 30 january 2015
The prolonged economic crisis since 2008 has
drastically reduced incomes and employment levels
and the promised recovery will not reabsorb
unemployment, particularly in Europe. Nevertheless,
economic policy in Europe is sticking to past recipes
based on two mainstays: fiscal austerity and labour
flexibility. This strategy does increase the short-run
cost competitiveness of European firms overseas but
this comes at the cost of decreasing the size of
European internal markets reliant on domestic
demand.
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