flexicurity
n.— «Numerous experts have praised Nordic countries’ systems, particularly that of Denmark, for their ability to create jobs while maintaining a high standard of social security for the unemployed. Industry associations also like the system because its liberal hire-and-fire rules allow for a high degree of flexibility and quick adaptation to downward as well as to upward market developments. Due to its potential for reconciling this kind of flexibility with social security, the system has been labelled “flexicurity.”» —“Flexicurity: can it work for France and Germany?” EurActiv Mar. 29, 2006. (source: Double-Tongued Dictionary)
Further reading
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