"In many European countries, the process of financialisation has been exacerbated by the project of closer EU integration and accelerated as a result of austerity policies introduced after the Euro crisis of 2010-12. However, the impact has been felt differently in core and peripheral countries....

This paper suggests that in the US context, workers tend to invest in general human capital especially since they face little employment protection and low unemployment benefits, while the European model (generous benefits and higher duration of jobs) favors specific human capital investments....