Economic Crises, Inequalities and Education/Training/Labour Market

Europe has faced financial and economic crises of historic proportions. Since 2007/2008, the volatility in the world’s financial markets caused major consequences for European member states and citizens, inducing vast public policy interventions in order to secure the stability of the financial system and support European economy. The European Union’s has made considerable attempts at a coordinated framework included policy interventions to control and mitigate as well as resolve the economic and financial turmoil, though less has been achieved in terms of crisis resolution. The latter is arguably related to a well noted nexus in the relationship between state and market, namely that while states are entrusted with regulating and setting limits to markets, they also are key to creating the conditions within which markets are to thrive. In other words, in tackling the effects of financial crises and in reducing inequalities, European states seem caught between regulation and midwifery.

The Summer School discusses the consequences of this by focusing how policy responses in education and training, but more generally in labour market sectors, attempt to address market failures by improving (young) citizens’ labour readiness and employability to secure economic growth and innovation, thus leading to substantial educational restructuring and impacting young people’s life courses heavily.