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The Resource Europe's social problem and its implications for economic growth, (electronic resource)

Europe's social problem and its implications for economic growth, (electronic resource)

Creator
Contributor
Summary
The European Union faces major social problems. More than six million jobs were lost from 2008-13 and poverty has increased. Fiscal consolidation has generally attempted to spare social protection from spending cuts, but the distribution of adjustment costs between the young and old has been uneven; a growing generational divide is evident, disadvantaging the young. The efficiency of the social security systems of EU countries varies widely. Countries with greater inequality tended to have higher household borrowing prior to the crisis resulting in more subdued consumption growth during the crisis. The resulting high private debt, high unemployment, poverty and more limited access to education undermine long-term growth and social and political stability. Policymakers face three main challenges. First, addressing unemployment and poverty should remain a high priority not only for its own sake, but because these problems undermine public debt sustainability and growth. Second, bold policies in various areas are required. Most labour, social and fiscal policies are the responsibility of member states, requiring national reforms. But better coordination of demand management at European level is also necessary in order to create jobs. Third, tax/benefit systems should be reviewed for improved efficiency, inter- generational equity and fair burden sharing between the wealthy and poor
Language
eng
Work
Instance
Label
Europe's social problem and its implications for economic growth
Title
Europe's social problem and its implications for economic growth
Creator
Contributor
Subject
Language
eng
Summary
The European Union faces major social problems. More than six million jobs were lost from 2008-13 and poverty has increased. Fiscal consolidation has generally attempted to spare social protection from spending cuts, but the distribution of adjustment costs between the young and old has been uneven; a growing generational divide is evident, disadvantaging the young. The efficiency of the social security systems of EU countries varies widely. Countries with greater inequality tended to have higher household borrowing prior to the crisis resulting in more subdued consumption growth during the crisis. The resulting high private debt, high unemployment, poverty and more limited access to education undermine long-term growth and social and political stability. Policymakers face three main challenges. First, addressing unemployment and poverty should remain a high priority not only for its own sake, but because these problems undermine public debt sustainability and growth. Second, bold policies in various areas are required. Most labour, social and fiscal policies are the responsibility of member states, requiring national reforms. But better coordination of demand management at European level is also necessary in order to create jobs. Third, tax/benefit systems should be reviewed for improved efficiency, inter- generational equity and fair burden sharing between the wealthy and poor
Cataloging source
IT-FiEUI
http://library.link/vocab/creatorName
Darvas, Zsolt M
Index
no index present
Literary form
non fiction
Nature of contents
dictionaries
http://library.link/vocab/relatedWorkOrContributorName
  • Wolff, Guntram
  • Bruegel
Series statement
Bruegel policy briefs
Series volume
03/2014
http://library.link/vocab/subjectName
  • European Union
  • Social problems
  • Unemployment
  • Poverty
  • Labor policy
  • Europe
Label
Europe's social problem and its implications for economic growth, (electronic resource)
Link
http://bruegel.org/publications/
Instantiates
Publication
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier.
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent.
Control code
FIEb17565728
Extent
8 pages.
Form of item
electronic
Media category
computer
Media MARC source
rdamedia.
Media type code
  • c
Specific material designation
remote
System control number
(OCoLC)914478467
Label
Europe's social problem and its implications for economic growth, (electronic resource)
Link
http://bruegel.org/publications/
Publication
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier.
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent.
Control code
FIEb17565728
Extent
8 pages.
Form of item
electronic
Media category
computer
Media MARC source
rdamedia.
Media type code
  • c
Specific material designation
remote
System control number
(OCoLC)914478467

Subject

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