This succinct book provides a broad panorama of the key economic policy challenges facing the European Union today. The enlargement of the EU and its lacklustre performance over the last decade in terms of employment and productivity growth have prompted wide-ranging calls for economic reform, both at the EU level and within member states. This volume brings together several leading thinkers in the key areas of policy under discussion, ranging from the institutional design of the enlarged EU for efficient policy making, to the extent and nature of the integration process in markets such as those of energy and financial services. It includes an analysis of the problems of macroeconomic policy co-ordination in the EU and an analysis of the reforms in the labour markets and welfare state institutions. Timely and authoritative, this book is accessibly written and will appeal to a wide policy audience.

Trust is an essential component of properly functioning economies, business practices and the overall functioning of society. When trust is in scarce supply, or even disappears completely, it can lead to the fragmentation and polarization that is a feature of many modern liberal democracies. Trust in individuals, institutions, political parties, governments, and their policies has deteriorated. Trust Is Priceless argues that conventional economic thinking about such problems has tended to ignore the importance of trust in the functioning of capitalist economies. It argues that to achieve higher levels of trust in others, free market economies and their institutions need to foster altruism and shared values. Complementing mainstream economics with insights and evidence from related fields, this book provides examples and stories that illustrate with real life events the relevance of the social and economic problems generated by the lack of trust in our societies.

New technologies, global markets and increased competitive pressures mean that companies are having to reinvent themselves, reappraise their competitive strategies and rethink the ways in which they organize business activities. This timely book illustrates how changes in strategy can translate into organizational changes within the firm itself and can influence the relationship between the firm and their employees and collaborators. The authors provide a broad theoretical and empirical assessment of these complex changes, their effect on the nature of employment, and the consequences for both employers and employees. They develop a framework that encompasses the interaction between the strategic reactions of businesses to a changing environment and the restrictions imposed by social institutions. A key theme of the book is that we are now living in an age of transition where concepts such as job security, which have played a crucial role in society, are no longer valid. Indeed, the importance of the research presented in the book is underlined by the social and political implications such changes will undoubtedly bring. Significantly, the authors view the subject matter from an interdisciplinary perspective applying tools from the fields of organizational behavior, sociology and psychology.Social economists, employment analysts, business managers, and scholars of strategic management and organizational studies will value this integrated assessment of the challenges and changes facing modern firms.

The contributions to this timely volume explore the social implications of labour market reforms, and assess the complex relationship between the economic and non-economic aspects of labour institutions. The authors ascertain that labour market systems have important social dimensions, including social benefits and effects on psychological well-being and on social relationships. They go on to argue that the evaluation of reforms should take into consideration this social impact.The book examines the requirements for increased flexibility in contractual associations whilst maintaining social protection and job security. Using new utility criteria, guidelines for evaluating labour market and social protection system reform policies are recommended.It is argued that policy evaluations should consider whether social benefits are compatible with the increased flexibility demanded by the marketplace, taking into account the complex social and cultural rules which affect human behaviour, and the fact that individuals are concerned with issues such as fairness, status and the well-being of their fellow citizens. Policymakers involved in government, international institutions, professional associations for social work and labour relations, unions and employer federations will find this book to be a useful and fascinating read. It will also be of great interest to academics involved in labour economics, industrial relations and industrial economics.

The Social Challenge of Job Creation brings together a distinguished group of economists and sociologists to provide a broad, accessible and multidisciplinary assessment of job creation in Europe. This major volume discusses the role of labour market institutions and the nature of their interaction with other economic and social regulations. The European case is discussed in depth with a focus on issues such as the extent to which US labour market institutions can be adapted to European societies, and the problem of the long-term unemployed. Two chapters are explicitly devoted to Spain which constitutes a paramount example of the job creation failure in Europe. An introductory chapter summarizes the main conclusions of the book. Among other results, the authors highlight the importance of systemic and carefully balanced labour market reforms.The Social Challenge of Job Creation provides a rigorous yet accessible broad assessment of the policy alternatives which could lead to increased job creation in the European economy.

This succinct book provides a broad panorama of the key economic policy challenges facing the European Union today. The enlargement of the EU and its lacklustre performance over the last decade in terms of employment and productivity growth have prompted wide-ranging calls for economic reform, both at the EU level and within member states. This volume brings together several leading thinkers in the key areas of policy under discussion, ranging from the institutional design of the enlarged EU for efficient policy making, to the extent and nature of the integration process in markets such as those of energy and financial services. It includes an analysis of the problems of macroeconomic policy co-ordination in the EU and an analysis of the reforms in the labour markets and welfare state institutions. Timely and authoritative, this book is accessibly written and will appeal to a wide policy audience.

Trust is an essential component of properly functioning economies, business practices and the overall functioning of society. When trust is in scarce supply, or even disappears completely, it can lead to the fragmentation and polarization that is a feature of many modern liberal democracies. Trust in individuals, institutions, political parties, governments, and their policies has deteriorated. Trust Is Priceless argues that conventional economic thinking about such problems has tended to ignore the importance of trust in the functioning of capitalist economies. It argues that to achieve higher levels of trust in others, free market economies and their institutions need to foster altruism and shared values. Complementing mainstream economics with insights and evidence from related fields, this book provides examples and stories that illustrate with real life events the relevance of the social and economic problems generated by the lack of trust in our societies.

New technologies, global markets and increased competitive pressures mean that companies are having to reinvent themselves, reappraise their competitive strategies and rethink the ways in which they organize business activities. This timely book illustrates how changes in strategy can translate into organizational changes within the firm itself and can influence the relationship between the firm and their employees and collaborators. The authors provide a broad theoretical and empirical assessment of these complex changes, their effect on the nature of employment, and the consequences for both employers and employees. They develop a framework that encompasses the interaction between the strategic reactions of businesses to a changing environment and the restrictions imposed by social institutions. A key theme of the book is that we are now living in an age of transition where concepts such as job security, which have played a crucial role in society, are no longer valid. Indeed, the importance of the research presented in the book is underlined by the social and political implications such changes will undoubtedly bring. Significantly, the authors view the subject matter from an interdisciplinary perspective applying tools from the fields of organizational behavior, sociology and psychology.Social economists, employment analysts, business managers, and scholars of strategic management and organizational studies will value this integrated assessment of the challenges and changes facing modern firms.

The contributions to this timely volume explore the social implications of labour market reforms, and assess the complex relationship between the economic and non-economic aspects of labour institutions. The authors ascertain that labour market systems have important social dimensions, including social benefits and effects on psychological well-being and on social relationships. They go on to argue that the evaluation of reforms should take into consideration this social impact.The book examines the requirements for increased flexibility in contractual associations whilst maintaining social protection and job security. Using new utility criteria, guidelines for evaluating labour market and social protection system reform policies are recommended.It is argued that policy evaluations should consider whether social benefits are compatible with the increased flexibility demanded by the marketplace, taking into account the complex social and cultural rules which affect human behaviour, and the fact that individuals are concerned with issues such as fairness, status and the well-being of their fellow citizens. Policymakers involved in government, international institutions, professional associations for social work and labour relations, unions and employer federations will find this book to be a useful and fascinating read. It will also be of great interest to academics involved in labour economics, industrial relations and industrial economics.

The Social Challenge of Job Creation brings together a distinguished group of economists and sociologists to provide a broad, accessible and multidisciplinary assessment of job creation in Europe. This major volume discusses the role of labour market institutions and the nature of their interaction with other economic and social regulations. The European case is discussed in depth with a focus on issues such as the extent to which US labour market institutions can be adapted to European societies, and the problem of the long-term unemployed. Two chapters are explicitly devoted to Spain which constitutes a paramount example of the job creation failure in Europe. An introductory chapter summarizes the main conclusions of the book. Among other results, the authors highlight the importance of systemic and carefully balanced labour market reforms.The Social Challenge of Job Creation provides a rigorous yet accessible broad assessment of the policy alternatives which could lead to increased job creation in the European economy.