
Is there a viable European social and economic model?
About this book
In this lecture, I argue that the efficiency cost of generous but well designed social insurance need not be very large, and that there is indeed a viable European model, based on three legs: competition in goods markets, insurance in labor markets, and the active use of macroeconomic policy. Keywords: Europe, euro, insurance, competition. JEL Classifications: E24, F41, J5.