Rewriting the Rules of the European Economy

Europe is in crisis. Sluggish economic growth, income stagnation, and recession have led to severe political and social consequences. Government programs designed to provide social protection for citizens have been cut back. Parties on the extremes of the political spectrum are on the rise— particularly those on the radical right. The problems of today’s Europe can be traced directly to the rewriting of the “rules of the economic game” that has taken place over several decades under the strong influence of neoliberalism. If Europe is to return to the innovative and dynamic economy it once had— and if there is to be shared prosperity, social solidarity, and justice across Europe— the rules must be rewritten once again. With the Foundation for European Progressive Studies (FEPS), Joseph E. Stiglitz lays out comprehensive programs and policies designed to relieve the suffering of Europeans and restore a prosperous and equitable European Union.