Eurosclerosis (German: Eurosklerose) is a term coined by German economist Herbert Giersch in the 1970s, to describe a pattern of economic stagnation in Europe that was alleged to have resulted from government over-regulation and overly generous social benefits policies. The term alludes to the medical term sclerosis, and is a rhyme of the archaic term neurosclerosis.
Eurosclerosis (German: Eurosklerose) is a term coined by German economist Herbert Giersch in the 1970s, to describe a pattern of economic stagnation in Europe that was alleged to have resulted from government over-regulation and overly generous social benefits policies. The term alludes to the medical term sclerosis, and is a rhyme of the archaic term neurosclerosis.
The term was used to describe European countries of the 1970s and 1980s which had high unemployment and slow job creation in spite of overall economic growth, in contrast to what the United States experienced in the same period when economic expansion was accompanied by high job growth. In its political context, the term "eurosclerosis" was used to describe a period with a perceived stagnation of European integration. The slow pace of enlargement, a perceived lack of democracy and economic problems meant that negative and apathetic attitudes to the European Economic Community (EEC) were high.
Discovered by embedding cosine similarity (sentence-transformers MiniLM, 384-dim).