Food for thought on Europe and the world
Tuesday, 31 July 2012
Cut wages or curb over-legislation?
With a fortress EU or Eurozone many wages will be pushed to converge to the EU/Eurozone lowest. Without a fortress EU or Eurozone, to the global lowest.
A way the PIIGS can gain some competitiveness is via radical curbing of over-legislation ("polynomia"), which can improve productivity.
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