Is a social Europe a political goal or an economic need and what could be the first steps of the project Social Europe without intervening with national sovereignty? Xavier Ragot will discuss these questions during this lunch seminar.
Europe is still plagued by economic imbalances, threatening its integrity. These economic trends, together with differences in the appreciation of geopolitical issues, are creating the risk of a reduction of the European project to the sum of national interests. Independently of any political preferences, this would be perilous as it would increase economic imbalances and global risk. There is a strong case for more-risk sharing or solidarity: it is not a political goal but an economic need.
The construction of Social Europe should not be thought as the last piece of economic integration, after economic convergence, but as a condition for the well-functioning of the European economy, which is needed for non-deflationary, non contractionary European integration. The obvious objection to the project of Social Europe is the heterogeneity of National preferences in Europe about key-parameters of social security, for instance. This fair concern can be solved by the definition of an additional European layer and by coordinating of the evolution of European welfare States.
Creating first pieces of a European welfare State is different from asking for a European budget, which involves some issue about sovereignty. The project of a European re-insurance scheme should be thought as a first step in this direction.
Xavier Ragot, a researcher at the CNRS-PSE, is the president of the French Economic Observatory (the economic research centre of Sciences Po. He is a member of the Economic Analysis Council and the National Economic Committee. Now an Associate Professor at the Paris School of Economics, he carried out a dissertation at the School for Advanced Studies in the Social Sciences and a post-doc at the Massachusetts Institute of Technology after his studies at University of Paris 10.
He was previously an Economist at the Bank of France. From 2012 to 2013 he was an Economic Advisor at the Ministry of Industry.
His research focuses mainly on monetary and financial macroeconomic questions.He has been published in French and international economic journals such as the Journal of Economic Theory, Economic Journal, Journal of Monetary Economics, la Revue Economique, European Economic Review et Annales d’Economie et de Statistique.