Want faster European growth? Learn to love creative destruction

Standard policies to redress Europe's productivity problems keep politicians in their comfort zone: support for the “knowledge economy” and more R&D. More progress would come if they accepted and facilitated the “dark side” of productivity improvement – the exit of high-cost producers and re-deployment of labour.

VoxEU.org is a policy portal set up by the Centre for Economic Policy Research in conjunction with a consortium of national sites, including the Italian site LaVoce, the French site Telos and the Spanish site Sociedad Abierta. Vox aims to promote research-based policy analysis and commentary by leading scholars. The intended audience is economists in governments, international organisations, academia and the private sector as well as journalists specializing in economics, finance and business.

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