“Making transitions pay” : The “Transitional labour markets” approach to “Flexicurity"

This contribution intends to discuss the various meanings and the consistency of the now popular policy principle of "flexicurity" by using a specific theoretical approach ; the "Transitional Labour Markets" (TLM). The text is organised in three sections. First, we intend to get inside the "flexicurity" "black box", in order to go beyond the catchword and discuss some analytical elements. This will lead to identify more precisely some basic problems which need to be addressed by any "flexicurity" – developing policy. Second, we introduce the TLM comprehensive and dynamic perspective and briefly deal with its consequences. Third, we turn to the European diversity and we examine how various "institutional complementarities" may be identified and used in order to ensure a better management of "transitions", which is tantamount to distinguishing different national or local versions of "flexicurity".