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“Labour market inflexibility in Europe is the main reason why Europe is not as dynamic an economy as the United States” Critically discuss
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"Labour market inflexibility in Europe is the main reason why Europe is not as dynamic an economy as the United States" In not more than 2500 words and not less than 1500, critically discuss the above statement. Introduction Today labour markets in Europe and the USA are often compared and discussed. The general view seems to be that the US has a more dynamic economy, people tend to believe Europeans are worse off than Americans. The main reason given for Europe lagging behind the USA economically is "Labour market inflexibility" other reasons why the European Economy is not as dynamic, include labour rigidities, high taxes, and too big an emphasis on the welfare system. This essay will discuss why US labour markets are considered dynamic and superior, in doing this unemployment, employment and wages. A Historic Explanation Historically the USA and Europe are very different. The USA is a relatively modern country and...
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