The European Social Models Facing the Economic Crisis

European social models that emerged in Europe are answers to various problems faced by micro and macroeconomic activity. The austerity measures adopted by some of these models have led, in most cases, to a deepening of the economic recession. European social models which had an innovative investment plan, mainly Scandinavian model, managed to pass easily from the critical moments, increasing prosperity and living standards. This paper provides an overview of how the European social models have attempted to revive their economies. The main hypothesis of the paper assumes that investments in education and workforce improvement led to the growth of the living standards in the Scandinavian model.