There is a widespread perception that imbalances within the euro area are not adjusting, the major difficulty being that the competitive disinflation processes required in deficit countries are painful, while no strong incentives are always available in surplus countries to reduce their excess...

During the 1980s Britain became one of the world's most market-oriented economies, an approach which resulted in three severe recessions and a deepening degree of inequality. This book argues that a rebalancing of the economy will remain elusive until proactive policies are implemented at the...