Europe's Growth Challenge

International surveys recognize that Europeans enjoy the highest quality of life in the world. European society benefits from great equality in income, excellent healthcare and basic education, good infrastructure, and eminent rule of law. But the European Union (EU) faces serious problems. It has entered a period of stagnation. Its GDP in 2015 just about reached its level of 2008—before the eurozone crisis—and it is losing market share in the global economy. Noneconomic threats are also gaining momentum. The conflict in Ukraine has exposed weaknesses in the EU’s foreign policy. The continent has been overwhelmed by refugees from North Africa and the Middle East, and the United Kingdom has held a referendum about leaving the EU.

Introduction 1 What Is Right and Wrong with Europe? 2 Limiting the Fiscal Role of the State 3 Taxes That Support Entrepreneurship and Growth 4 Reforming Pensions 5 Opening Up Services and Digital Trade 6 Creating Jobs 7 Cutting Red Tape 8 Developing a Single Energy Market 9 Catching Up in Innovation Conclusions