A wage-led growth strategy for Europe. An alternative to the crisis of debt-led and export-led growth models

Call to Europe III, Conference Paper on wage-led growth in Europe

Engelbert Stockhammer

Neoliberalism set out to deregulate markets. The promise was that while it may lead to a rise in inequality, it would boost growth and eventually the crumbles of the pie would trickle down. A profit-led growth process would create income and jobs for everyone. This is not what has happened in Europe (nor anywhere else).