“Many people want the government to protect the consumer. A much more urgent problem is to protect the consumer from the government.” - Milton Friedman
Mr Barroso admitted the EU’s sprawling “Lisbon agenda” of economic reforms launched in 2000 had failed. He wanted EU leaders to concentrate on just two indicators: raising research and development spending to 3 per cent of gross domestic product and employment levels to 70 per cent. His policy prescription draws heavily on the example of Nordic countries, where high investment in universities and R&D have yielded high growth rates. There is also a commitment to the “flexicurity” model developed in Denmark, combining flexible labour markets with active policies designed to bring young people, women and the elderly into the workforce.
His policy prescription draws heavily on the example of Nordic countries, where high investment in universities and R&D have yielded high growth rates.
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