An end to unemployment in Europe: from breakdown to breakthrough

Despite signs of another economic upturn, persistent unemployment in the fi fteen countries comprising the EEC remains at a level that affects eighteen million individuals and their families. Statistically, it is clear that fu nds now doled out as unemployment compensation could, if channeled into the creation of valid jobs in the private and public sectors, end unemployment in Western Europe. This article proposes the establishment of a European E mployment Trust as an intersectoral instrument to accelerate job creation w ithin the EEC. The Trust, managed by fiduciaries who have earned the confid ence of labor unions, employers' associations, and governments, would inves t in enterprises that have demonstrated the capability of creating growth a nd profitability while increasing the number of persons they employ. Young people without requisite skills or experience, or those who wish to devote a year to environmental enhancement or the rescue and relief of populations suffering from natural disasters would be accepted as volunteers in a Cons ervation and Rescue Service, as described in an earlier volume of this Jour nal (1996, Vol. 18, No. 4, pp. 419-442). The combined programs offer Europe a "win-win" strategy that would restore its cohesion, self-confidence, and prosperity. The cumulative impact of the European Employment Trust and a C onservation and Rescue Service would terminate the scourge of unemployment without further burdens on government or taxpayer budgets, would not requir e the creation of additional bureaucracies, and would provide new opportuni ties for private investment and co-investment. (C) 1998 Published by Elsevi er Science Ltd. All rights reserved.