Файл: 04a_emerging_from_the_crisis.pdf

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MANAGEMENT 

High debt and deficits 

•

Deficit and debt levels rose sharply due to 

the crisis 
 

•

But already too high in several countries 
 

•

Countries now facing much higher 

borrowing costs 
 

•

Greece and Ireland forced to seek 

assistance 
 

•

Too high a debt level reduces economic 

growth 

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MANAGEMENT 

Aging Population 

•

There are currently four people of 

working 

age 

for every retired person 

•

By 2050 there will be only two people of 

working age for every retired person 
 

•

As populations age, economic growth  

slows, tax revenue falls (fewer workers) 

•

Increased ‘age-related’ spending on 

healthcare, pensions 
 

•

Crisis makes it even more urgent to have 

low debt levels 

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MANAGEMENT 

Sustaining the Social Welfare System 

Europe’s Next Top Model: Who Will You Vote For? 

employment protection 

weak 

strong 

u

n

e

mp

lo

yme

n

t 

b

e

n

e

fits

low

h

igh

Scandinavian: 

high 

employment, low 
inequality

English-speaking: 

high 

employment, high inequality

Rhineland: 

low 

employment, low 
inequality

Mediterranean: 

low employment, 

high inequality

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MANAGEMENT 

Adapting To Technological Change 

Productivity

 – a measure of how much each worker produces 

Marie-Claude 

Karl-Heinz 

•  Marie-Claude designed 5 web sites 
•  Karl-Heinz designed 8 web sites 
•  Who is more productive? 

24 

www.fh-joanneum.at

MANAGEMENT 

Adapting To Technological Change 

Productivity

 – a measure of how much each worker produces 

Marie-Claude 

Karl-Heinz 

•  Marie-Claude designed 5 web sites 
•  Karl-Heinz designed 8 web sites 
•  Who is more productive? 

•  Marie-Claude worked 200 hours 
•  Karl-Heinz worked 400 hours 
•  Now who is more productive? 

Web sites designed per hour:  

Marie-Claude: 0.025 

Karl Heinz: 0.020 



 Marie-Claude has a higher hourly productivity than Karl-Heinz 

25