Most observers ascribe the recent stagnation in Europe and her falling back behind the US-economy to insufficient and delayed deregulation and privatization, excessive social expenditure, a lag in new technology; some observers mention restrictive economic policy as well. The stagnation,...

The Queen's question "Why did no one see it coming" provoked professional economists as well. A fierce discussion arose how to modify and improve theory and models. A survey of the literature reveals that almost a hundred analyses warned against the instability of several mechanism, be it...

It is widely believed that the Information Society and its economic counterpart, the New Economy, afford more flexibility especially in the labour market (i.e. less long-term contracts) to allow faster reactions to the increased speed of change. The paper argues that increased complexity rather...