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Providing a comparative analysis of Central and Eastern European economies, this book explores the economic impacts of populism in those countries in the region which have seen some form of populist rule. Populism has been thriving in the new member states of the EU ever since the outburst of the global financial and economic crisis, but unlike the cases of Latin America, Brexit or the Trump administration, the emphasis has not been on trade protectionism or unsustainable macroeconomic policies in these countries. This book demonstrates that studying macroeconomic variables such as fiscal balance or current account positions cannot tell the whole story of the economic consequences of populis...
At the end of the 1990s and the start of the new millennium, globalisation was the main buzzword in the social sciences; nowadays, however, this role has been taken over by governance. So much so in fact that the term has earned considerable credit outside of the academia, and has become the topic of heated discussions in public debates as well. Globalisation and governance are, nevertheless, not independent from each other. It is a pity that a full-blown crisis, such as the global financial and economic crisis of 2007-2008, was needed to make it painfully evident that the success of globalisation and the design of good governance mutually presuppose one another; one cannot exist without the...
European economic recovery appears to be taking hold. So is the European crisis over? The acute phase of the crisis passed, however a number of medium and long term issues remain. The policies of “internal devaluations” are working, albeit slowly, to restore competitiveness in the countries most affected by the crisis. However, growth remains at best sluggish. The medium and long term outlook remains highly uncertain, fomenting social tensions and endangering political stability. The restoration of economic dynamism is increasingly perceived as the answer to the question of the “European” future – economically, politically and socially. There is a broad consensus that dynamic struc...
Hungary in State of Exception seeks to analyze the transboundary exchange of political and economic ideas through the global neoliberal hegemonic struggle. Neoliberalism, as a economic and political ideology, defined the history of Hungary not just in the 21st century, but in the troubled 20th century. Eastern Europe played a crucial role in neoliberalism’s rise to control globalized capitalism, and Central and Eastern Europe (CEE) have constantly an incubator of and experimental laboratory for new types of neoliberal capitalism. Antal arguesthat neoliberalism, like populism, is historically embedded in Hungarian political history, its the political form is economic and governmental exceptionalism. This book reveals the common history of Western- and Eastern-style neoliberalism from the Austro-Hungarian Empire to the contemporary COVID-19 crisis. Without emphasis on the century of neoliberalization of CEE, the contemporary rise of regional authoritarianism cannot be understood. Antal also details the relationship between Orbán’s rise and contemporary neoliberal politics in CEE.
The book provides a clear, multidisciplinary and systematic analysis of the relatively new concept of the so-called expansionary fiscal consolidations. This concept suggests that fiscal adjustment should not be in trade-off with economic growth if certain conditions are met. But why do only a few countries and only at certain times experience the expansionary effects, while others not at all? The necessary institutional conditions and circumstances have been totally neglected in the literature, or analyzed only partially at best.
The book seeks to link theoretical debates on the relevance of trust in economic outcomes with the current arguments about the origins and lessons of the subprime crisis. By what mechanisms does trust influence economic outcomes? Under what conditions do these mechanisms prevail? How do debates about trust help our understanding of the subprime crisis in the European Union? By integrating insights from Post-Keynesian, Austrian and new institutional economics, the central proposition of the analysis is that the presence or absence of institutional trust creates virtuous and vicious cycles in law-abiding, which critically influence the possibility for economic agents to have realistic long-term plans.
The adjustment problems of public finance in countries of Central and Eastern Europe (CEE) are often misunderstood and misinterpreted by western scholars. This book contributes to the bridging of the gap between what is being thought by external observers and what the actual public finance reality is, as described by competent local scholars. Popular political economy research has remained biased towards advanced countries and has neglected developing and transition economies. Publications on CEE countries' public finances seem to be reluctant to apply the conceptual framework of standard political economy to these countries because of the assumption that CEE economies are different from their Western peers. But is this really the case? Are CEE economies so much different that none of the well-known "Western" political economy concepts or models can be applied to the analysis of fiscal performance in the region? Benczes demonstrates that they can be safely applied in the context of CEE economies as well. He sees no need to develop a separate or unique theory designed for the study and understanding of (one-time) transition economies.
This book discusses a broadly understood phenomenon of protest from several perspectives, including historical, cultural, social, political, environmental and semiotic. Through their analyses, the authors undertake to envision the possible evolution of the forms of contestation in the further decades of the 21st century, taking into account the specificity of the globalisation processes. A multidimensional approach offered in this volume makes it possible to capture and identify new features of contemporary contestation and those that seem unchanged despite the passage of time and altering audiences. Examples from Europe (France, the United Kingdom, Italy, Ireland, Malta, Bulgaria, Poland, B...