The Future of Europe
Reform or Decline
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Future of Europe by Alberto Alesina
Book DescriptionUnless Europe takes action soon, its further economic and political decline is almost inevitable, economists Alberto Alesina and Francesco Giavazzi write in this provocative book. Without comprehensive reform, continental Western Europe's overprotected, overregulated economies will continue to slow -- and its political influence will become negligible. This doesn't mean that Italy, Germany, France, and other now-prosperous countries will become poor; their standard of living will remain comfortable. But they will become largely irrelevant on the world scene. In The Future of Europe, Alesina and Giavazzi (themselves Europeans) outline the steps that Europe must take to prevent its economic and political eclipse. Europe, the authors say, has much to learn from the market liberalism of America. Europeans work less and vacation more than Americans; they value job stability and security above all. Americans, Alesina and Giavazzi argue, work harder and longer and are more willing to endure the ups and downs of a market economy. Europeans prize their welfare states; Americans abhor government spending. America is a melting pot; European countries -- witness the November 2005 unrest in France -- have trouble absorbing their immigrant populations. If Europe is to arrest its decline, Alesina and Giavazzi warn, it needs to adopt something closer to the American free-market model for dealing with these issues. Alesina and Giavazzi's prescriptions for how Europe should handle worker productivity, labor market regulation, globalization, support for higher education and technology research, fiscal policy, and its multiethnic societies are sure to stir controversy, as will their eye-opening view of the European Union and the euro. But their wake-up call will ring loud and clear for anyone concerned about the future of Europe and the global economy.
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Book DetailsISBN: 9780262512046
(229mm x 152mm x 12mm)
Imprint: MIT Press
Publisher: MIT Press Ltd
Publish Date: 17-Oct-2008
Country of Publication: United States
Books By Author Alberto Alesina
Fiscal Policy After the Financial Crisis, Hardback (July 2013)
Focuses on the effects of fiscal stimuli and increased government spending, with contributions that consider the measurement of the multiplier effect and its size. This title also includes contributions discuss the merits of alternate means of debt reduction through decreased government spending or increased taxes.
Europe and the Euro, Hardback (April 2010)
Looks at the effects of the euro on reform of goods and labor markets; its influence on business cycles and trade among members; and, whether the single currency has induced convergence or divergence in the economic performance of member countries. This title focuses on both the first ten years of the euro and the workings of a monetary union.
Fighting Poverty in the US and Europe, Paperback (November 2005)
Presenting a study of different approaches of America and Europe to the problems of domestic inequality and poverty, this book describes how different the two continents are in the level of State engagement in the redistribution of income. It discusses various economic and sociological explanations for the difference, including various attitudes.
Institutional Reforms, Paperback (February 2005)» View all books by Alberto Alesina
Experts analyze Colombia's recent institutional reforms and socioeconomic problems from the perspective of political economics and offer policy recommendations.
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Author Biography - Alberto Alesina
Alberto Alesina is Nathaniel Ropes Professor of Political Economics at Harvard University. He is the coauthor (with Enrico Spolaore) of The Size of Nations (MIT Press, 2003). Francesco Giavazzi is Professor of Economics at Bocconi University and Visiting Professor at MIT. He is the coauthor (with Alberto Giovannini) of Limiting Exchange Rate Flexibility: The European Monetary System (MIT Press, 1989).
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