In the context of the eurocrisis and its current management, the long 'road to Social Europe' appears to has become a dead end. The present volume explores in a comprehensive and interdisciplinary way the processes and driving forces at the root of the current social downward spiral. It examines...

We develop a rational expectations framework to study the consequences of alternative means to resolve the "unfunded liabilities'' problem---unsustainable exponential growth in federal Social Security, Medicare, and Medicaid spending with no plan to finance it. Resolution requires specifying a...