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Die ,Neue Unsicherheit‚ als Ursache der europäischen Wachstumsschwäche

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  • Gunther Tichy

Abstract

Most observers ascribe the recent stagnation in Europe and her falling back behind the US‐economy to insufficient and delayed deregulation and privatization, excessive social expenditure, a lag in new technology; some observers mention restrictive economic policy as well. The stagnation, however, affects the large countries primarily, while the northern ones tend to grow as fast as the United States. This study argues that one important explanation for the current economic problems is a strong worldwide trend towards uncertainty. The competitive edge of Scandinavian economies results from the fact that they managed to compensate this trend by a well‐designed combination of education policy, technology policy, distribution policy and social policy. The US‐policy succeeded primarily with expansive monetary and fiscal policy. The large European countries, in contrast, aggravated social uncertainty even more by an unsystematic and uncoordinated policy, so that the citizens, heavily afraid of reforms, rejected them forcefully.

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  • Gunther Tichy, 2005. "Die ,Neue Unsicherheit‚ als Ursache der europäischen Wachstumsschwäche," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 6(3), pages 385-407, August.
    • Handle: RePEc:bla:perwir:v:6:y:2005:i:3:p:385-407
    DOI: 10.1111/j.1465-6493.2004.00186.x
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    References listed on IDEAS

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    1. Gunther Tichy, 2014. "Flexicurity – ein an seiner Umsetzung scheiterndes Konzept," WIFO Monatsberichte (monthly reports), WIFO, vol. 87(8), pages 537-553, August.
    2. Karl Aiginger & Alois Guger, 2005. "The European Socio-economic Model. Differences to the USA and Changes Over Time," WIFO Studies, WIFO, number 25777.

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