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The Path To
Sustainable Growth
Lessons
From 20 Years Growth Differentials In Europe
Martin De Vlieghere and Paul Vreymans
Abstract: While
the rest of the world is booming, Europe lags behind. Europe's
performance is weak in spite of high productivity and knowledge, high
level of development and good labour ethics. Growth is also remarkably
dissimular among regions. France, Germany and Italy are stagnating, and
so do Denmark, Sweden and Finland. All gained less than 44% prosperity
over the last 20 years. The Irish economy grew 4 times faster, gaining
169% wealth over the same period. In half a generation Ireland so
metamorphosed into Europe's second richest country creating jobs for
all.
" Big government " is the main cause of Europe's weak performance. The
oversized Public Sector lacks productivity and is undoing the entire
productivity gains of the Private Sector, eradicating all of its
outstanding performance and productiveness. Europe could improve its
overall performance by copying the Irish success formulas: Scaling down
Public Spending, downsizing bureaucracy, and shifting the tax burden
from income on consumption. This book demonstrates why the Lisbon
Agenda and decades of Keynesian inflationist demand stimulation have
failed. It devellops an alternative and workable supply-side strategy
as well as effective cures for a humane and financially sustainable
development.
This book reads as a step-by-step manual for economic
recovery. It is a data-reference for students and
politicians interested in growth, wellfare and in social
modelling. It is a classic for economists
concerned about Big Government, poor public sector
productivity and for parents worrying about their declining
standard of living and their children's future.
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