The coronavirus pandemic hit when the world was still reeling from the Great Recession, delivering a serious blow to economies everywhere. Will European welfare states be able to absorb this new shock? Anton Hemerijck and Robin Huguenot-Noel urge welfare states to consider long-term objectives for greater resilience to short-term crises.

Welfare state expert Anton Hemerijck argues that domestic spending on human capital initiatives such as training and lifelong education should be exempt from the fiscal rules of Europe’s Stability and Growth Pact.