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Flexicurity refers to an European policy agenda, which seeks to increase flexibility and security in labor markets nationally. Much as it is a different approach from one centered solely on flexibility, flexicurity has been highly opposed right from its onset. Now it is being reviewed in light of the crisis that occurred in 2008 (Marsden and Hugh, 2008). Apart from letting go of this agenda, the European Commission announced a “second phase of flexicruity’, though it was highly suggested that flexicruity needed to be re-made independent of the crisis. Nevertheless, flexicruity envisages changing the work life and lifestyles of Europeans, and much as it is justified by the needs of the workers, it is void of a clear and democratic justifiable idea to back up its impact on the society. This report explains how flexicruity can be applied in the labor market and social policy. With reference to the European Commission (EC) (cp. 2007a, 7), flexicurity may contribute to the restoration of competitiveness in European economies and the maintenance of the European social model, both of which are perceived to be under immense pressure. On the contrary, this reform has been greatly countered from its onset with the criticism gaining momentum after the crises in 2008. Nonetheless, the European Commission has relentlessly affirmed its determination to pursue the flexicurity objective (Marsden and Hugh, 2001). However, it has opted to rethink the whole agenda in view of the altered economic conditions, to realize the objectives envisaged in the second phase of flexicurity. This report discusses flexicurity by applying the Capability Approach (CA) as a paradigm for evaluation of human well-being.
Principles of flexicurity Flexicurity is an avenue to hasten the implementation of the