The emergence of the so-called "European Paradox" shows that increasing Governmental R & D Investment is far from being a 'panacea' for stagnant growth. It is worth noting that Governmental R & D Investment does not have a statistically significant impact on employment, indicating the need to assess the trade-offs of policies that could lead to significant increases in government expenditure. Surprisingly, Governmental R & D Employment does not contribute to 'mass-market' employment, despite its quite important role in reducing Youth-Unemployment. Despite the negative side-effects of Governmental R & D Employment on both GVA and GDP, University R & D Employment appears to have a quite important role in reducing Unemployment, especially Youth-Unemployment, while it also does not have a downside in terms of economic growth. Technological Capacity enhancement is the most effective instrument for reducing Unemployment and is a policy without any downside regarding sustainable economic development.
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