- Author
- Czarzasty Jan
- Title
- Book review: Myant M., Theodoropoulou S., Piasna A. (eds.), Unemployment, Internal Devaluation and Labour Market Deregulation in Europe, Brussels, ETUI, 2016
- Source
- Warsaw Forum of Economic Sociology, 2017, vol. 8, nr 1 (15), s. 137-141
- Keyword
- Bezrobocie, Rynek pracy, Recenzja
Unemployment, Labour market, Review - Note
- summ.
- Country
- Europa
Europe - Abstract
- The book co-edited by M. Myant, S. Theodoropoulou and A. Piasna deals with three key phenomena explicitly used in the title: unemployment, internal-devaluation and labour market deregulation. The first was an inevitable consequence of the recession, the last - an institutional adaptation to the changing environment (let us withhold any judgments whether right or wrong for the moment), and the one in the middle was an immediate response intended to minimize losses. Internal devaluation, unlike the remaining two, sounds a bit mysterious, thus needs to be explained. It is a recipe used by the Eurozone countries stricken by balance of payments deficit, to which they could not respond with devaluation due to not having their national currencies anymore. In the words of one of the Editors, 'internal' devaluation is engineered 'by cutting production costs, meaning predominantly wages'. It is supposed to lead to 'lower relative export prices and hence to improved international competitiveness'. The Authors claim it was, unfortunately, not the case.(fragment of text)
- Accessibility
- The Library of Warsaw School of Economics
- Cited by
- ISSN
- 2081-9633
- Language
- eng
