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Maastricht 2042 and the Fate of Europe: Toward Convergence and Full Employment

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  • James K. Galbraith

Abstract

Unemployment in the European Union (EU) is a serious problem that threatens to disrupt the integration of accession countries, the character of individual countries, and the continued existence of the EU. According to Senior Scholar James K. Galbraith, European integration poses a huge conundrum for European employment because the conventional theory explaining unemployment in EuropeÐlabor market rigiditiesÐis wrong. The application of this policy will not cure European unemployment, but it could destroy the economic promise of the EU for its poorer regions and the accession countries.

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  • James K. Galbraith, 2006. "Maastricht 2042 and the Fate of Europe: Toward Convergence and Full Employment," Economics Public Policy Brief Archive ppb_87, Levy Economics Institute.
    • Handle: RePEc:lev:levppb:ppb_87
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    1. John Schmitt & Ben Zipperer, 2006. "Is the U.S. a Good Model for Reducing Social Exclusion in Europe?," CEPR Reports and Issue Briefs 2006-17, Center for Economic and Policy Research (CEPR).
    2. Howell, David (ed.), 2004. "Fighting Unemployment: The Limits of Free Market Orthodoxy," OUP Catalogue, Oxford University Press, number 9780195165852.
    3. Robert E. Lucas Jr., 2003. "Macroeconomic Priorities," American Economic Review, American Economic Association, vol. 93(1), pages 1-14, March.
    4. Dean Baker & Andrew Glyn & David Howell & John Schmitt, 2002. "Labor Market Institutions and Unemployment: A Critical Assessment of the Cross-Country Evidence," SCEPA working paper series. 2002-17, Schwartz Center for Economic Policy Analysis (SCEPA), The New School.
    5. James K. Galbraith, "undated". "What is the American Model Really About? Soft Budgets and the Keynesian Devolution ," Economics Public Policy Brief Archive ppb_72, Levy Economics Institute.
    6. Harris, John R & Todaro, Michael P, 1970. "Migration, Unemployment & Development: A Two-Sector Analysis," American Economic Review, American Economic Association, vol. 60(1), pages 126-142, March.
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