The economic and financial crisis has shaken faith in the market economy and has revealed areas in which the states have failed. At the Alpbach Economic Symposium 2011, we will thus analyse the balance between the free market and framework regulations imposed by the states.
Our discussions will focus on two issues. First, we will try to answer the question whether the current European model of the Social Market Economy is able to meet the challenges posed by globalisation and demographic developments, or whether we need a »New Social Market Economy«. Second, we will scrutinise specific forms of state governance and market regulation. How successful is the Single European Market, is there effective competition, and are the accusations of over-regulation justified? Which competitive and regulatory deficiencies can be identified in Austria?
The concluding economic policy panel will discuss strategies to enable Europe to overcome the banking and monetary crisis and to strengthen its position in global competition without jeopardising internal social cohesion.