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Europe grew rapidly for many years, but now, faced with greater challenges, several of the large economies in Europe have either failed to generate enough jobs or have failed to achieve the highest levels of productivity or both. This study explores why Europe's growth slowed, what contribution information technology makes to growth, and what policies could facilitate economic transformation. It emphasizes a system with strong work incentives and a high level of competitive intensity. Europe doesn't need to eliminate its protections for individuals, the authors conclude, but both social programs and policies toward business must be reoriented so that they encourage economic change.
Chapters are provided for preview only.
1. New Policies and New Goals for Changing Times
2. Europe's Postwar Success and Subsequent Problems
3. What Drives Productivity and How to Improve It in Europe
4. The Productivity Puzzle in Britain
5. Reforming the Labor Market and Social Programs
6. What Should Europe Do: Getting the Macroeconomics Right
7. Are Current Reform Efforts on the Right Track?