The Triple Challenge for Europe: Economic Development, Climate Change, and Governance

Europe is confronted by an intimidating triple challenge - economic stagnation, climate change, and a governance crisis. This book demonstrates how these three challenges are closely inter-related. A return to economic growth cannot come at the expense of greater risk of irreversible climate change. Instead, what is required is a reconceptualization of what is intended by 'economic development' and a fundamental transformation of the economy to a new 'green' trajectory, based on rapidly diminishing emission of greenhouse gases. This entails a much greater emphasis on innovation in all its forms - not just technological. Innovation policy must be placed at the very heart of industrial policy and indeed of economic policy more broadly. Other parts of the world are also facing varying forms of the triple challenge, and while the governance challenge may not be exactly the same as for Europe and the EU, Europe is uniquely placed to take the lead in addressing the triple challenge. While this may well entail certain costs in the short term, it will undoubtedly bring considerable benefits in the longer term. It should also encourage countries in other parts of the world to follow Europe's lead in this transformation process, thereby ensuring that climate change is kept within manageable bounds. Addressing the triple challenge would thus provide Europe and its citizens with a new sense of purpose, revitalizing the EU and 'the European project' over the decades to come. Contributors to this volume - Iain Begg, Professorial Research Fellow at the European Institute, London School of Economics and Political Science. Jan Fagerberg, Professor at the University of Oslo and Alborg University Frank W. Geels, Pofessor of System Innovation and Sustainability at the Sustainable Consumption Institute, The University of Manchester Staffan Jacobsson, Professor in Environmental System Analysis, Energy and Environment, Chalmers University of Technology Staffan Laestadius, Professor of Industrial Dynamics, KTH Royal Institute of Technology, Stockholm Michael A. Landesmann, Scientific Director of wiiw and Professor of Economics at the Johannes Kepler University Volkmar Lauber, was Professor of Comparative Politics at the University of Salzburg Rasmus Lema, Assistant Professor, Aalborg University Ben R. Martin, Professor of Science and Technology Policy Studies in SPRU, University of Sussex Mariana Mazzucato, Professor of Economics of Innovation at SPRU, University of Sussex. Carlota Perez, Researcher, Professor of Technology and Development, London School of Economics and Political Science. Hubert Schmitz, Professorial Fellow, Institute of Development Studies Bart Verspagen, Director of UNU-MERIT and Director-Dean of the Maastricht Graduate School of Governance at Maastricht University.