Close families and flexible labour markets don’t go together. That’s the conclusion of a fascinating paper by a quartet of economists. Their work should be required reading for all European politicians and for the economists and pundits around the world who seek to advise them.
One truth universally acknowledged in Europe today is that the countries of the south need to overhaul their labour markets: Rigid rules on hiring and firing and on the minimum wage are blamed for the high unemployment and subpar economic growth in these states.
One truth universally acknowledged in Europe today is that the countries of the south need to overhaul their labour markets: Rigid rules on hiring and firing and on the minimum wage are blamed for the high unemployment and subpar economic growth in these states.