Why the "flexicurity" model of the labour market is not sustainable

The current social contract is based on the hiring of workers on flexible contracts, such as on a part-time, temporary, short-term or zero-hour basis, or via some form of subcontracting, writes Kirsten Sehnbruch. For workers, this often spells bad news in the form of low and unpredictable income flows. But is the “flexicurity” model more fundamentally flawed from a macroeconomic lens?