ANATOMY OF INCLUSIVE GROWTH IN

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With only seven percent of the world's people but about half of its welfare payments, the European Union's levels of inequality and absolute poverty are low in a global context. Nevertheless, unemployment remains high in a number of EU countries, while the intergenerational divide between the young and the old has widened. Social mobility is weak, in particular in the more unequal economies of southern Europe, limiting opportunities for the children of poor and disadvantaged families. Striving for fairness in economic development is crucial in order for societies to be stable and citizens not to feel disenchanted. This volume sets out to inform the debate around inequality with a comprehensive breakdown of relevant indicators and comparisons, which together provide an anatomy of inclusive growth in the EU. Although there are EU-level objectives related to reducing inequality, the policies needed to meet the objectives - dealing with education and welfare and tax systems, for example - are in the hands of national politicians. The EU can highlight best practices and apply peer pressure to its member countries, but this volume contains a warning: promising results without proper instruments could backfire and lead to a backlash against the EU if citizens perceive that promises are not being kept.