Throughout the developed world, you hear the same anxious story. From Brussels to Washington, political and business leaders warn that our economies have grown uncompetitive because wages are too high and regulation too burdensome. Make labor cheaper and deregulate, we are told, and private investment will abound. This diagnosis may sound like common sense to some. But we now have ample evidence and real-world experience to know that it is dead wrong.
The real competitiveness trap
Volkswagen employees work on an assembly line at the company's plant in Brazil. (AFP)
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Throughout the developed world, you hear the same anxious story. From Brussels to Washington, political and business leaders warn that our economies have grown uncompetitive because wages are too high and regulation too burdensome. Make labor cheaper and deregulate, we are told, and private investment will abound.
The real competitiveness trap - Academia - The Jakarta Post
The Real Competitiveness Trap
L’inganno sulla competitività europea: a pesare non è il costo del lavoro ma il crollo degli investimenti
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