Labour Market Policies: Higher Standards
As was argued in Chapter 7, labour market policies (the regulation of, and intervention in, labour markets and the employment relationship) cannot on their own resolve the problem of European unemployment. The main instruments for addressing that problem are those of macroeconomic policy, together with a genuine social dialogue relating wage outcomes to improvements in the quality and quantity of employment, and in the way in which working hours are distributed among the population. Nevertheless, labour market interventions are needed to promote full employment because the inequalities and imbalances generated in market economies mean that even in a favourable macroeconomic climate some social groups (notably people with low qualifications) will face difficulties in obtaining employment.
Unable to display preview. Download preview PDF.