Since 2008, Europe has been shaken by an ongoing crisis. If relevant parts of populations are exposed to socioeconomic risks, it is a distinctive characteristic of European political ethics that they must not be left alone, but should be subject to support and solidarity by budget support...

Recent development literature has placed priority on poverty reduction, and on possible growth enhancement from a more equal distribution of assets and income. At the same time, empirical work consistently shows that economic growth is no more than distribution neutral. In that context, this...