This title was first published in 2001. Investigating the consequences of restrictive austerity policies and the downsizing of the welfare state this edited collection reflects on possible ways out by analyzing economic developments, social conflicts, legal forms and the prevailing directions of economic policy. According to official figures, around 9.5 per cent of the working population of the European Union is unemployed. Fifteen million European citizens are officially looking for work. In other countries such as the US, the increasing wage inequality has marginalized large parts of the population. The precipitous rise in unemployment (mainly in Europe) and income inequality (mainly in the USA) as well as the weakening of democratic and welfare institutions in almost every developed nation have caused huge social and political problems in recent years.