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Perspectives on the Performance of the Continental Economies$
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Edmund S. Phelps and Hans-Werner Sinn

Print publication date: 2011

Print ISBN-13: 9780262015318

Published to MIT Press Scholarship Online: August 2013

DOI: 10.7551/mitpress/9780262015318.001.0001

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The Welfare State and the Forces of Globalization

The Welfare State and the Forces of Globalization

Chapter:
(p.413) 13 The Welfare State and the Forces of Globalization
Source:
Perspectives on the Performance of the Continental Economies
Author(s):

Hans-Werner Sinn

Publisher:
The MIT Press
DOI:10.7551/mitpress/9780262015318.003.0013

This chapter examines the impact of globalization on the European welfare state. It discusses the forces of factor price convergence; gains from trade and specialization; and rigid wages and the welfare state. It argues that the welfare state must be improved by making its redistributive activities compatible with wage flexibility. It describes Activating Social Assistance, a watertight new polder system that both respects the social aims of the European welfare state and the needs of a market economy struggling against the international low-wage competition brought about by globalization.

Keywords:   globalization, European welfare state, wages, factor price convergences, Activating Social Assistance

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