Wifo: Economy Remains Competitive Despite High Wages

EnergyRenewables ♦ Published: September 18, 2013; 17:49 ♦ (Vindobona)

Head of Wifo (Austrian Institute for Economic Research), Karl Aiginger, calls for a change of views in economic policy as competitiveness is more than just low costs.

According to Aiginger international competitiveness and economic growth are about obtaining social goals, particularly high wages, employment, social cohesion and environmental sustainability. With this concept a country is able to compete internationally Aiginger declared and demands a change of views in economic policy.

In Europe, countries as diverse as Switzerland, Denmark,…