Introduction

This introductory article to the special issue proposes that proponents of the European marketization project need to give serious consideration to the negative externalities that are created by virtually all moves to extend the scope of markets. The theme is applied particularly to the case of the labour market and its special characteristics. Attention is given to tensions between the idea of ‘flexicurity’ and policies designed to deal with the Eurocrisis. The former recognized that, if workers were to accept the potential job losses implied by labour market flexibility, they needed certain reassurances of security, such as generous unemployment pay and further training. The policies imposed on the debtor countries involved in the crisis have removed most such possibilities of security. The theme of coping with the negative consequences of intensifying markets is also used to introduce and integrate the remaining contributions to the special issue.