Efficiency, Fairness, and Social Cohesion in Europe and the United States: Incomes, Hours of Work, and Equality with an Afterthought on Iceland
The paper discusses the European Union as a union of primarily small European states, a union whose parallel emphasis on efficiency and fairness, including deep respect for human rights, holds the key to Europe’s economic and social advances over the years. The paper shows that adjusting conventiona...
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ftrepec:oai:RePEc:ces:ceswps:_6025 2024-04-14T08:13:45+00:00 Efficiency, Fairness, and Social Cohesion in Europe and the United States: Incomes, Hours of Work, and Equality with an Afterthought on Iceland Thorvaldur Gylfason https://www.cesifo.org/DocDL/cesifo1_wp6025.pdf unknown https://www.cesifo.org/DocDL/cesifo1_wp6025.pdf preprint ftrepec 2024-03-19T10:34:10Z The paper discusses the European Union as a union of primarily small European states, a union whose parallel emphasis on efficiency and fairness, including deep respect for human rights, holds the key to Europe’s economic and social advances over the years. The paper shows that adjusting conventional economic indicators of living standards such as gross domestic product or gross national income per capita to reflect also social factors (such as hours of work and equality of income) places Europe ahead of the United States. Further, adjustments for education attainment and public health, as made by the United Nations Human Development Index, similarly favor Europe vis-à-vis the US. While expansion fatigue has temporarily slowed the momentum of the widening and deepening of European integration, Europe can expect to benefit from the accession of more small states to the EU. This will further advance the EU’s economic and social position in the world. efficiency, hours worked, equality, social capital, European Union, United States Report Iceland RePEc (Research Papers in Economics) |
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RePEc (Research Papers in Economics) |
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The paper discusses the European Union as a union of primarily small European states, a union whose parallel emphasis on efficiency and fairness, including deep respect for human rights, holds the key to Europe’s economic and social advances over the years. The paper shows that adjusting conventional economic indicators of living standards such as gross domestic product or gross national income per capita to reflect also social factors (such as hours of work and equality of income) places Europe ahead of the United States. Further, adjustments for education attainment and public health, as made by the United Nations Human Development Index, similarly favor Europe vis-à-vis the US. While expansion fatigue has temporarily slowed the momentum of the widening and deepening of European integration, Europe can expect to benefit from the accession of more small states to the EU. This will further advance the EU’s economic and social position in the world. efficiency, hours worked, equality, social capital, European Union, United States |
format |
Report |
author |
Thorvaldur Gylfason |
spellingShingle |
Thorvaldur Gylfason Efficiency, Fairness, and Social Cohesion in Europe and the United States: Incomes, Hours of Work, and Equality with an Afterthought on Iceland |
author_facet |
Thorvaldur Gylfason |
author_sort |
Thorvaldur Gylfason |
title |
Efficiency, Fairness, and Social Cohesion in Europe and the United States: Incomes, Hours of Work, and Equality with an Afterthought on Iceland |
title_short |
Efficiency, Fairness, and Social Cohesion in Europe and the United States: Incomes, Hours of Work, and Equality with an Afterthought on Iceland |
title_full |
Efficiency, Fairness, and Social Cohesion in Europe and the United States: Incomes, Hours of Work, and Equality with an Afterthought on Iceland |
title_fullStr |
Efficiency, Fairness, and Social Cohesion in Europe and the United States: Incomes, Hours of Work, and Equality with an Afterthought on Iceland |
title_full_unstemmed |
Efficiency, Fairness, and Social Cohesion in Europe and the United States: Incomes, Hours of Work, and Equality with an Afterthought on Iceland |
title_sort |
efficiency, fairness, and social cohesion in europe and the united states: incomes, hours of work, and equality with an afterthought on iceland |
url |
https://www.cesifo.org/DocDL/cesifo1_wp6025.pdf |
genre |
Iceland |
genre_facet |
Iceland |
op_relation |
https://www.cesifo.org/DocDL/cesifo1_wp6025.pdf |
_version_ |
1796311811149004800 |