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Europe is in crisis. Sluggish economic growth in many countries, widespread income stagnation, and recession have led to severe political and social consequences. If Europe is to return to an innovative and dynamic economy - and if there is to be shared prosperity, social solidarity, and justice - then EU countries need to break with their current, destructive trajectory. This volume offers concrete strategies for renewal that would also reinvigorate the project of European integration. Winner of the Nobel Prize for Economics.