The countries of the BSEC-CA region have experienced dramatic economic and social changes over the last two decades. Apart from Greece, Turkey and the workers’ self-managed economy of Serbia, they had centrally planned economies 20 years ago. The transition to a market-based economy was accompanied by declining average incomes and widening inequality, both interand intra-regionally. The disruption was exacerbated by armed conflicts or secession in much of south-eastern Europe and the CIS. In the 21st century, the economic situation has improved substantially as the main elements of the transition have been completed and economic growth has resumed, in some cases at a very fast rate. Much, however, remains to be done in terms of establishing market-based economies that promote prosperity and economic security. In no area has this been clearer than with respect to work and well-being.