Conference # Europe’s Crisis and the Welfare State: Lessons for the United States ##### Watch the Event Download: [ Video ](https://fastly-unsigned-us-east-1-prod.brightcovecdn.com/media/v1/pmp4/static/clear/6039378657001/1bf3d15a-9df9-4063-a66e-223544faad49/7a80b774-cdcb-474d-bffd-c3210efc8a6c/main.mp4) [ Video ](https://cdn.cato.org/archive-2012/cc-10-10-12-1.mp4) [ Audio ](https://cdn.cato.org/archive-2012/cca-10-10-12-1.mp3) Join the conversation on X using [\#CatoEvents](https://x.com/hashtag/CatoEvents). Follow [@CatoInstitute](https://x.com/catoinstitute) on X to get future event updates, live streams, and videos from the Cato Institute. Date and Time October 10, 2012 9 AM - 5:15 PM EDT Location Hayek Auditorium Share This Event ##### Featuring [![John A. Allison Cropped](/sites/cato.org/files/styles/author_picture/public/2021-01/John%20Allison.jpg?itok=cgR3AY2C)](/people/john-allison) [John A. Allison](/people/john-allison) Former President and CEO; Chair, Executive Advisory Council, Center for Monetary and Financial Alternatives, Cato Institute [![Ian Vásquez](/sites/cato.org/files/styles/author_picture/public/2021-01/Ian%20Vasquez.jpg?itok=yBS_mzpm)](/people/ian-vasquez) [Ian Vásquez](/people/ian-vasquez) Vice President for International Studies, Cato Institute [ ](https://x.com/vasquezian) [ ](mailto:ivasquez@cato.org) [![Media Name: gokhale.jpg](/sites/cato.org/files/styles/author_picture/public/authors/crops/gokhale.jpg?itok=1jPWPSGi)](/people/jagadeesh-gokhale) [Jagadeesh Gokhale](/people/jagadeesh-gokhale) Former Senior Fellow [ ](mailto:jgokhale@cato.org) [![marian-tupy-crop-temp.jpg](/sites/cato.org/files/styles/author_picture/public/2022-08/marian-tupy-crop-temp.jpg?itok=zdX_3JzR)](/people/marian-l-tupy) [Marian L. Tupy](/people/marian-l-tupy) Senior Fellow, Cato Institute [ ](https://x.com/Marian_L_Tupy) [ ](mailto:mtupy@cato.org) [![Media Name: derugy.jpg](/sites/cato.org/files/styles/author_picture/public/authors/crops/derugy.jpg?itok=rdeuOdKY)](/people/veronique-derugy) [Veronique de Rugy](/people/veronique-derugy) George Gibbs Chair in Political Economy and Senior Research Fellow at the Mercatus Center at George Mason University [![Media Name: hidalgo-cropped-again.jpg](/sites/cato.org/files/styles/author_picture/public/authors/crops/hidalgo-cropped-again.jpg?itok=GSLKyN7e)](/people/juan-carlos-hidalgo) [Juan Carlos Hidalgo](/people/juan-carlos-hidalgo) Former Policy Analyst, Latin America [![Chris Edwards](/sites/cato.org/files/styles/author_picture/public/2021-01/Chris%20Edwards.jpg?itok=549WLrcG)](/people/chris-edwards) [Chris Edwards](/people/chris-edwards) Kilts Family Chair in Fiscal Studies, Cato Institute and Editor, Down​siz​ing​Gov​ern​ment​.org [ ](https://x.com/CatoEdwards) [ ](mailto:cedwards@cato.org) [![Media Name: mitchell.jpg](/sites/cato.org/files/styles/author_picture/public/authors/crops/mitchell.jpg?itok=W7grHyuM)](/people/daniel-mitchell) [Daniel J. Mitchell](/people/daniel-mitchell) Former Senior Fellow [ ](https://twitter.com/danieljmitchell) [![Calabria Cropped](/sites/cato.org/files/styles/author_picture/public/2021-10/calabria-cropped.jpg?itok=5EpCNOFT)](/people/mark-calabria) [Mark A. Calabria](/people/mark-calabria) Former Director, Federal Housing Finance Agency; Former Chief Economist, Vice President Mike Pence; Former Senior Advisor, Cato Institute [ ](https://x.com/MarkCalabria) [ ](mailto:mcalabria@cato.org) [![Michael D. Tanner](/sites/cato.org/files/styles/author_picture/public/2021-01/Michael%20Tanner.jpg?itok=fvQbEN_H)](/people/michael-d-tanner) [Michael D. Tanner](/people/michael-d-tanner) Former Senior Fellow, Cato Institute [ ](mailto:mtanner@cato.org) Europe has long been the model of the modern welfare state, with many countries providing "cradle-to-grave" protection against the vicissitudes of life by publicly funding housing, sustenance, health care, pensions, unemployment insurance, sick leave, child care, and a host of other benefits. But the economic crisis that started in Greece and now pours through Europe has painfully revealed the true nature of the welfare state—it is unaffordable, stifles economic growth, and has countries drowning in debt. As Europe now deals with the consequences of its severe fiscal crisis, the United States has an opportunity to gain a wide range of invaluable perspectives and lessons. At this Conference, leading international experts will look at the history and evolution of Europe's welfare states; examine the effectiveness of austerity programs; explore steps taken that are working and failing; and, with the sobering perspectives it offers on the financial realties now facing Europe, detail the range of lessons the United States must learn. The Conference will also underscore how the financial burden of the expanding U.S. welfare state—Medicare, Medicaid, Social Security, and other entitlements—must be resolved if America is to avoid arriving at the same painful destination as Europe. | 8:30 - 9:00 a.m. | **Registration** | |:--|:--| | 9:00 - 10:00 a.m. | **Welcoming Remarks** [![QuickTime](/weekly/quicktime.gif)](https://cdn.cato.org/archive-2012/cc-10-10-12-1.mp4)[Watch the Welcoming Remarks and Keynote Address in QuickTime (M4V)](https://cdn.cato.org/archive-2012/cc-10-10-12-1.mp4) [](https://cdn.cato.org/archive-2012/cca-10-10-12-1.mp3) [![Media Name: ipod.jpg](/sites/cato.org/files/styles/optimized/public/download-remote-images/object.cato.org/169672258913/ipod.jpg?itok=5gSrqX94)](/sites/cato.org/files/download-remote-images/object.cato.org/169672258913/ipod.jpg) [Download a Podcast of the Welcoming Remarks and Keynote Address (MP3)](https://cdn.cato.org/archive-2012/cca-10-10-12-1.mp3) **John Allison** **Keynote Address** **Josef Joffe**, Publisher & Editor, *Die Zeit*, and Fellow in International Relations, Hoover Institution | | 10:00 - 11:15 a.m. | **Panel 1: The Unaffordable Welfare State** [![QuickTime](/weekly/quicktime.gif)](https://cdn.cato.org/archive-2012/cc-10-10-12-2.mp4)[Watch Panel 1 in QuickTime (M4V)](https://cdn.cato.org/archive-2012/cc-10-10-12-2.mp4) [](https://cdn.cato.org/archive-2012/cca-10-10-12-2.mp3) [![Media Name: ipod.jpg](/sites/cato.org/files/styles/optimized/public/download-remote-images/object.cato.org/169672258913/ipod.jpg?itok=5gSrqX94)](/sites/cato.org/files/download-remote-images/object.cato.org/169672258913/ipod.jpg) [Download a Podcast of Panel 2 (MP3)](https://cdn.cato.org/archive-2012/cca-10-10-12-2.mp3) Moderator: **[Ian Vasquez](https://www.cato.org/people/ian-vasquez)**, Director, Cato Institute Center for Global Liberty and Prosperity **Aristides Hatzis**, Associate Professor of Law and Economics, University of Athens **Pedro Schwartz**, Professor Extraordinary Universidad San Pablo CEU (Madrid-Spain) **Fredrik Erixon**, Director, European Centre for International Political Economy **[Jagadeesh Gokhale](/people/jagadeesh-gokhale)**, Senior Fellow, Cato Institute | | 11:30 a.m. - 12:45 p.m | **Panel 2: Is Austerity the Answer?** [![QuickTime](/weekly/quicktime.gif)](https://cdn.cato.org/archive-2012/cc-10-10-12-3.mp4)[Watch Panel 2 in QuickTime (M4V)](https://cdn.cato.org/archive-2012/cc-10-10-12-3.mp4) [](https://cdn.cato.org/archive-2012/cca-10-10-12-3.mp3) [![Media Name: ipod.jpg](/sites/cato.org/files/styles/optimized/public/download-remote-images/object.cato.org/169672258913/ipod.jpg?itok=5gSrqX94)](/sites/cato.org/files/download-remote-images/object.cato.org/169672258913/ipod.jpg) [Download a Podcast of Panel 2 (MP3)](https://cdn.cato.org/archive-2012/cca-10-10-12-3.mp3) Moderator: **[Marian Tupy](https://www.cato.org/people/marian-tupy)**, Policy Analyst, Cato Institute Center for Global Liberty and Prosperity **Bruce Stokes**, Director, Pew Global Economic Attitudes **Pascal Salin**, Professor Emeritus, Université Paris-Dauphine **Miroslav Beblavy**, Member, Slovak Parliament, and senior research fellow, Centre for European Policy Studies **[Veronique de Rugy](/people/veronique-derugy)**, Senior Research Fellow, Mercatus Center | | 12:45 - 1:45 p.m. | **Luncheon Address** [![QuickTime](/weekly/quicktime.gif)](https://cdn.cato.org/archive-2012/cc-10-10-12-4.mp4)[Watch the Luncheon Address in QuickTime (M4V)](https://cdn.cato.org/archive-2012/cc-10-10-12-4.mp4) [](https://cdn.cato.org/archive-2012/cca-10-10-12-4.mp3) [![Media Name: ipod.jpg](/sites/cato.org/files/styles/optimized/public/download-remote-images/object.cato.org/169672258913/ipod.jpg?itok=5gSrqX94)](/sites/cato.org/files/download-remote-images/object.cato.org/169672258913/ipod.jpg) [Download a Podcast of the Luncheon Address (MP3)](https://cdn.cato.org/archive-2012/cca-10-10-12-4.mp3) **Juhan Parts**, Minister of Economic Affairs and Communications, Republic of Estonia | | 2:00 - 3:15 p.m. | **Panel 3: Case Studies: What Works — What Doesn't** [![QuickTime](/weekly/quicktime.gif)](https://cdn.cato.org/archive-2012/cc-10-10-12-5.mp4)[Watch Panel 3 in QuickTime (M4V)](https://cdn.cato.org/archive-2012/cc-10-10-12-5.mp4) [](https://cdn.cato.org/archive-2012/cca-10-10-12-5.mp3) [![Media Name: ipod.jpg](/sites/cato.org/files/styles/optimized/public/download-remote-images/object.cato.org/169672258913/ipod.jpg?itok=5gSrqX94)](/sites/cato.org/files/download-remote-images/object.cato.org/169672258913/ipod.jpg) [Download a Podcast of Panel 3 (MP3)](https://cdn.cato.org/archive-2012/cca-10-10-12-5.mp3) Moderator: **[Juan Carlos Hidalgo](https://www.cato.org/people/juan-carlos-hidalgo)**, Policy Analyst, Cato Institute Center for Global Liberty and Prosperity **Peeter Koppel**, Private Banking Strategist, SEB Bank **Mark Hallerberg**, Director of Fiscal Governance Center, Hertie School of Governance **[Chris Edwards](https://www.cato.org/people/chris-edwards)**, Director of Tax Policy Studies, Cato Institute **[Daniel J. Mitchell](https://www.cato.org/people/daniel-mitchell)**, Senior Fellow, Cato Institute | | 3:30 - 4:45 p.m. | **Panel 4: Lessons for the United States** [![QuickTime](/weekly/quicktime.gif)](https://cdn.cato.org/archive-2012/cc-10-10-12-6.mp4)[Watch Panel 4 in QuickTime (M4V)](https://cdn.cato.org/archive-2012/cc-10-10-12-6.mp4) [](https://cdn.cato.org/archive-2012/cca-10-10-12-6.mp3) [![Media Name: ipod.jpg](/sites/cato.org/files/styles/optimized/public/download-remote-images/object.cato.org/169672258913/ipod.jpg?itok=5gSrqX94)](/sites/cato.org/files/download-remote-images/object.cato.org/169672258913/ipod.jpg) [Download a Podcast of Panel 4 (MP3)](https://cdn.cato.org/archive-2012/cca-10-10-12-6.mp3) Moderator: **[Mark Calabria](https://www.cato.org/people/mark-calabria)**, Director of Financial Regulation Studies, Cato Institute **Mickey Levy**, Chief Economist, Bank of America **Pierre Lemieux**, Associate Professor, University of Quebec **Desmond Lachman**, Resident Fellow, American Enterprise Institute **[Michael D. Tanner](https://www.cato.org/people/michael-tanner)**, Senior Fellow, Cato Institute | | 4:45 - 5:15 p.m. | **Closing Address** **Panel 4: Lessons for the United States** [![QuickTime](/weekly/quicktime.gif)](https://cdn.cato.org/archive-2012/cc-10-10-12-7.mp4)[Watch the Closing Address in QuickTime (M4V)](https://cdn.cato.org/archive-2012/cc-10-10-12-7.mp4) [](https://cdn.cato.org/archive-2012/cca-10-10-12-7.mp3) [![Media Name: ipod.jpg](/sites/cato.org/files/styles/optimized/public/download-remote-images/object.cato.org/169672258913/ipod.jpg?itok=5gSrqX94)](/sites/cato.org/files/download-remote-images/object.cato.org/169672258913/ipod.jpg) [Download a Podcast of the Closing Address (MP3)](https://cdn.cato.org/archive-2012/cca-10-10-12-7.mp3) **Richard Fisher**, President, Federal Reserve Bank of Dallas | | 5:15 - 6:00 p.m. | **Reception** | ***We gratefully acknowledge the support of The Lynde and Harry Bradley Foundation.*** [![Creative Commons License](/build/cato_2020/images/creative-commons.svg)](http://creativecommons.org/licenses/by-nc-sa/4.0/) This work is licensed under a [Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License](https://creativecommons.org/licenses/by-nc-sa/4.0/).