Publisher's Synopsis
Pessimists claim that the European economy is sinking under the weight of an over-regulated labour market and a costly welfare state. Examining the facts, Cadot and Blime find that Europe's competitive position in manufacturing has declined, especially in high-tech industries.;Although they suggest over-valued currencies and mis-guided attempts to foster national champions share some of the blame, they do not believe that American-style deregulation of the labour market would solve the problem of unemployment. Instead they claim that European governments need to invest massively in the skills of the workforce.
