Reflets et Perspectives de la Vie Economique vol:XLIX issue:2 pages:15-24
The EU’s most important economic challenges are different today compared to 2000 when the Lisbon strategy was conceived and this in at least three respects. First, there is the impact of the crisis and its exit strategies. Secondly, the challenge of climate change is much more prominent today than it was in 2000. Thirdly, the transatlantic reference point remains but has lost shine in a more multi-polar globalization process; Nevertheless, what remains similar to 2000 is the longer-term growth challenge for the EU, rooted in its failing creative destruction process. This contribution details Europe’s failing creative destruction process and its causes and concludes with suggestions for policies to revive Europe’s growth capacity.