"In this article a case is made for the establishment of a Labour Market Modernization Fund aiming at stimulating national labour market reforms, via rewarding effective policy effort and alleviating political economic constraints. It also is argued that the Labour Market Modernization Fund should take the place and, at least, the dowry of the European Globalization Adjustment Fund, the economics of which is weak and its politics questionable, hence making its relevance doubtful and poorly providing for meaningful adaptation."

Support: Paper