Unless Europe takes action soon, its further economic and political decline is almost inevitable, economists Alberto Alesina and Francesco Giavazzi write in this provocative book. Without comprehensive reform, continental Western Europe's overprotected, overregulated economies will continue to slow - and its political influence will become negligible. In "The Future of Europe", Alesina and Giavazzi (themselves Europeans) outline the steps that Europe must take to prevent its economic and political eclipse.Europe, the authors say, has much to learn from the market liberalism of America.

Europeans work less and vacation more than Americans; they value job stability and security above all. Americans, Alesina and Giavazzi argue, work harder and longer and are more willing to endure the ups and downs of a market economy.Alesina and Giavazzi's prescriptions are sure to stir controversy, as will their eye-opening view of the European Union and the euro. But, their wake-up call will ring loud and clear for anyone concerned about the future of Europe and the global economy.