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Europe’s Crisis and the Welfare State: Lessons for the United States

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Europe's Crisis and the Welfare State: Lessons for the United States: Welcoming Remarks and Keynote Address
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      Hayek Auditorium
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      Featuring
      John A. Allison Cropped
      John A. Allison

      Former President and CEO; Chair, Executive Advisory Council, Center for Monetary and Financial Alternatives, Cato Institute

      Media Name: derugy.jpg
      Veronique de Rugy

      George Gibbs Chair in Political Economy and Senior Research Fellow, Mercatus Center

      Chris Edwards
      Chris Edwards

      Kilts Family Chair in Fiscal Studies, Cato Institute and Editor, Down​siz​ing​Gov​ern​ment​.org
      Calabria Cropped
      Mark A. Calabria

      Former Director, Federal Housing Finance Agency; Former Chief Economist, Vice President Mike Pence; Former Senior Advisor, Cato Institute

      Europe has long been the model of the modern welfare state, with many countries providing "cradle-to-grave" protection against the vicissitudes of life by publicly funding housing, sustenance, health care, pensions, unemployment insurance, sick leave, child care, and a host of other benefits. But the economic crisis that started in Greece and now pours through Europe has painfully revealed the true nature of the welfare state—it is unaffordable, stifles economic growth, and has countries drowning in debt.

      As Europe now deals with the consequences of its severe fiscal crisis, the United States has an opportunity to gain a wide range of invaluable perspectives and lessons.

      At this Conference, leading international experts will look at the history and evolution of Europe's welfare states; examine the effectiveness of austerity programs; explore steps taken that are working and failing; and, with the sobering perspectives it offers on the financial realties now facing Europe, detail the range of lessons the United States must learn. The Conference will also underscore how the financial burden of the expanding U.S. welfare state—Medicare, Medicaid, Social Security, and other entitlements—must be resolved if America is to avoid arriving at the same painful destination as Europe.

      8:30 - 9:00 a.m. Registration
      9:00 - 10:00 a.m. Welcoming Remarks

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      John Allison

      Keynote Address
      Josef Joffe, Publisher & Editor, Die Zeit, and Fellow in International Relations, Hoover Institution
      10:00 - 11:15 a.m. Panel 1: The Unaffordable Welfare State

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      Moderator: Ian Vasquez, Director, Cato Institute Center for Global Liberty and Prosperity

      Aristides Hatzis, Associate Professor of Law and Economics, University of Athens

      Pedro Schwartz, Professor Extraordinary Universidad San Pablo CEU (Madrid-Spain)

      Fredrik Erixon, Director, European Centre for International Political Economy

      Jagadeesh Gokhale, Senior Fellow, Cato Institute
      11:30 a.m. - 12:45 p.m Panel 2: Is Austerity the Answer?

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      Moderator: Marian Tupy, Policy Analyst, Cato Institute Center for Global Liberty and Prosperity

      Bruce Stokes, Director, Pew Global Economic Attitudes

      Pascal Salin, Professor Emeritus, Université Paris-Dauphine

      Miroslav Beblavy, Member, Slovak Parliament, and senior research fellow, Centre for European Policy Studies

      Veronique de Rugy, Senior Research Fellow, Mercatus Center
      12:45 - 1:45 p.m. Luncheon Address

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      Juhan Parts, Minister of Economic Affairs and Communications, Republic of Estonia
      2:00 - 3:15 p.m. Panel 3: Case Studies: What Works — What Doesn't

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      Moderator: Juan Carlos Hidalgo, Policy Analyst, Cato Institute Center for Global Liberty and Prosperity

      Peeter Koppel, Private Banking Strategist, SEB Bank

      Mark Hallerberg, Director of Fiscal Governance Center, Hertie School of Governance

      Chris Edwards, Director of Tax Policy Studies, Cato Institute

      Daniel J. Mitchell, Senior Fellow, Cato Institute
      3:30 - 4:45 p.m. Panel 4: Lessons for the United States

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      Moderator: Mark Calabria, Director of Financial Regulation Studies, Cato Institute

      Mickey Levy, Chief Economist, Bank of America

      Pierre Lemieux, Associate Professor, University of Quebec

      Desmond Lachman, Resident Fellow, American Enterprise Institute

      Michael D. Tanner, Senior Fellow, Cato Institute
      4:45 - 5:15 p.m. Closing Address

      Panel 4: Lessons for the United States

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      Richard Fisher, President, Federal Reserve Bank of Dallas
      5:15 - 6:00 p.m. Reception

      We gratefully acknowledge the support of The Lynde and Harry Bradley Foundation.

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