The crisis of work in Europe and in Italy. Towards a radical change

The economic crisis since 2008 has reduced income and destroyed jobs, and the economic recovery announced in 2014 will not reabsorb unemployment especially in Europe. ILO and IMF forecast a jobless recovery. Nevertheless, the economic policy in Europe will continue in line with the past, based on two pillars: fiscal austerity and labour flexibility. The Jobs Act will contribute to change the route even in Europe only if it signs a change toward labour policy, industrial policy and innovation policy for which relevant economic public resources have to be invested. This would open a way out from the expansionary austerity trap. Otherwise, it will sign a further step towards the stagnation trap.