The Triple Challenge for Europe: The Economy, Climate Change and Governance
34 Pages Posted: 29 Sep 2016
Date Written: September 27, 2016
Europe is confronted by an intimidating triple challenge – economic stagnation, climate change, and a governance crisis. This paper demonstrates how the three challenges are closely inter-related, and discusses how they can be dealt with more effectively in order to arrive at a more economically secure, environmentally sustainable and well governed Europe. In particular, a return to economic growth cannot come at the expense of greater risk of irreversible climate change. Instead, what is required is a fundamental transformation of the economy to a new ‘green’ trajectory based on rapidly diminishing emission of greenhouse gases. This entails much greater emphasis on innovation in all its forms (not just technological). Following this path would mean turning Europe into a veritable laboratory for sustainable growth, environmentally as well as socially.
Note: The paper is based on a forthcoming book: Fagerberg, J., S. Laestadius and B. R. Martin eds. (2015) The Triple Challenge for Europe: Economic Development, Climate Change and Governance, Oxford University Press.
Keywords: Europe; European Union; triple challenge; economic stagnation; climate change; governance crisis; innovation policy; transformation process
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