Abstract
This chapter presents a new approach to measuring competitiveness in the Euro Area by focussing on the profitability of investment instead of on tradable goods and current account imbalances. Taking the average return on capital in the Euro Area, the equilibrium wage level is calculated and competitiveness measured as the gap between actual and this equilibrium level.
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Notes
- 1.
Soedeberg, S., (2010), Corporate Power and Ownership in. Contemporary Capitalism: The Politics of Resistance and Domination, London: Routledge.
- 2.
Cafruny, A., (2010) “The Global Financial Crisis and the crisis of European neo-liberalism”, in Talani, L.S., (ed.) The Global Crash, London: Palgrave, pp: 121–140.
- 3.
Cafruny, A., (2010) “The Global Financial Crisis and the crisis of European neo-liberalism”, in Talani, L.S., (ed.) The Global Crash, London: Palgrave, pp: 121–140.
- 4.
Plashcke, H.,(2010), “Challenging the Dollar in International Monetary Relations? The lost opportunities of the Euro”, in Talani, L.S., (ed.), The Global Crash, London: Palgrave, pp: 73–100.
- 5.
Plashcke, H.,(2010), “Challenging the Dollar in International Monetary Relations? The lost opportunities of the Euro”, in Talani, L.S., (ed.), The Global Crash, London: Palgrave, pp: 73–100.
- 6.
Cafruny, A., and Talani, L.S, (2012), “The consequences of the global financial crisis on Europe”, International Political Economy Yearbook, Volume 18 Boulder: Lynne Rienner.
- 7.
See http://www.efsf.Europa.eu/about/index.htm as accessed on December 15, 2010.
- 8.
For more details, see http://www.consilium.Europa.eu/uedocs/cms_data/docs/pressdata/en/ec/118578.pdf, as accessed on December 21, 2010.
Bibliography
Cafruny, A. (2010). The global financial crisis and the crisis of European neo-liberalism. In L. S. Talani (Ed.), The global crash (pp. 121–140). London: Palgrave.
Cafruny, A., & Talani, L. S. (2012). The consequences of the global financial crisis on Europe. In International political economy yearbook (Vol. 18). Boulder: Lynne Rienner.
Plashcke, H. (2010). Challenging the dollar in international monetary relations? The lost opportunities of the Euro. In L. S. Talani (Ed.), The global crash (pp. 73–100). London: Palgrave.
Soedeberg, S. (2010). Corporate power and ownership in contemporary capitalism: the politics of resistance and domination. London: Routledge.
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Talani, L.S. (2016). Introduction: Europe in Crisis: A Structural Analysis. In: Talani, L. (eds) Europe in Crisis. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-137-57707-8_1
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DOI: https://doi.org/10.1057/978-1-137-57707-8_1
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