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Is the European Union Capable of Integrating Diverse Models of Capitalism? (Hardcover)
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Is the European Union Capable of Integrating Diverse Models of Capitalism? (Hardcover)
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The 2009 European sovereign debt crisis and the EU's policy
response to it have prompted scholars to re-think whether diverse
national models of capitalism can thrive within the European Union
(EU). Are some national economic systems better suited to adapt to
European integration than others, and if so, why? Contributions
within this volume provide a qualified yes to these questions
raised, concluding that the EU favors export-led growth models
while it penalizes and discourages domestic consumption-oriented
growth paths, particularly those that are financed by
debt-accumulation. The book questions whether the EU is capable of
integrating these diverse capitalist regimes. This volume adds a
comparative capitalism perspective to EU integration scholarship in
order to demonstrate that ever-closer union is not capable of
accommodating diversity in national economic institutions. Chapters
in this volume provide an innovative framework for understanding
what factors related to European integration impede the economic
and political integration of diverse European market economies.
While recent comparative capitalism literature highlights that
European monetary integration has favored export-led growth
regimes, contributions in this volume outline that the EU's
prioritization of export-led growth over domestic-demand led growth
is present in other facets of integration, including EU accession,
financial integration, the free movement of people, fiscal
governance and the Europe 2020 growth strategy. The chapters in
this book were originally published as a special issue of New
Political Economy.
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