PART ONE: HOW TO PROMOTE EMPLOYMENT A Misguided Monetary Policy at the Basis of the European Unemployment; F.Modigliani & M.Ceprini Employment Performance and Employment Policies in the EU; B.Moro Productivity and Job Creation in US and Europe; R.M.Solow Working Hours and Employment; R.Paternò Employment Issues in the Banking System; C.Salvatori Potential Alliances Between Public and Private Sectors for a New Welfare State: The Foundations Case; G.Guzzetti The Italians vs The European Union Social Expenditure: A Comparison; E.Letta PART TWO: HOW TO REFORM SOCIAL SECURITY Welfare State and Pensions in Italy: Who Benefits? Who Pays?; M.Baldassarri How to Save the Pension: Reforming the Financing of the European Social Security Systems: The Case of Italy; F.Modigliani & M.Ceprini Welfare: The British Proposal; Baroness Hollis of Heigham The Italian System of Social Security; A.Brambilla Public and Private Welfare: A Choice; M.Orio Capitalising the Future of the Pension System; R.Illy Social Security: System Founded on Three Pillars; C.Salvi