Abstract
Key policy conclusions are presented. Existing solutions in the EU context – e.g. the globalization fund – are considered as well as new options developed: an important new proposal concerns the introduction of a variance tax in the banking sector. Such a tax would have as a basis the variance of the rate of return on equity. The idea is to avoid excessive regulation of the banking sector and to encourage management to consider what a long term stable rate of return on equity could be. Effectively such a tax could work as an anti-bubble tax and thereby help to make economic globalization sustainable. There is a broad range of economic policy reforms that should be considered in the US, Europe, Asia and other regions of the world. If the euro crisis cannot be overcome the European model of a social market economy will be a cautionary tale for Asia, rather the US model could become dominant – thus far Japan is the only country in the area that has a broad social security system. With the ageing process of Japan being ahead of that in both the EU and the US the Japanese system will face particular challenges.
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Welfens, P.J.J. (2013). Conclusions. In: Social Security and Economic Globalization. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-40880-9_4
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DOI: https://doi.org/10.1007/978-3-642-40880-9_4
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