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The Political Economy of Monetary Solidarity
Creating the European monetary union between diverse and unequal nation states is arguably one of the biggest social experiments in history. This book offers an explanation of how the euro experiment came about and was sustained despite a severe crisis, and provides a comparison with the monetary-financial history of the US. The euro experiment can be understood as risk-sharing through a currency that is issued by a supranational central bank. A single currency shares liquidity risks by creating larger markets for all financial assets. A single monetary policy responds to business cycles in the currency area as a whole rather than managing the path of one dominant economy. Mechanisms of risk...
Paradigms of Social Change
Social change has been a recurrent topic of social thought since the 18th century. From Condorcet and Comte, Marx and Spencer up to Durkheim and Weber, the classical authors of social science have reflected on the trajectories and dynamics of human societies. After the second World War, the emergence of a world society has challenged sociology and social anthropology, political science and economics into new sustained research. Today, with intensely felt globalization and the breakdown of once firmly held ideas about the future, the social sciences are requested to reexamine their conceptual and analytical tools. Four paradigms have guided investigations of social change: modernization, development, evolution and more recently, transformation. Confronting these paradigms, this book asks: How do different conceptualizations of social change compare? What are they mainly interested in and what are their corresponding blind spots? How and why has social scientists' reasoning about social change itself changed?
The Role of Reforms and Investments in the EU Fiscal Governance Framework
This briefing paper assesses Commission proposals to monitor reforms and investments in member states through a revised EU fiscal governance framework. Major innovations, such as a key operational role for an expenditure rule, are discussed in relation to the stated objectives, with a focus on social resilience. These innovations are welcome, but we also see a need for engaging national stakeholders to increase loyalty to the policy process.
Constitution and Erosion of a Monetary Economy
Ever since Shaw and McKinnon published their path-breaking works on financial development in 1973, there has been extensive research on the effects of monetary and financial policies on economic growth of developing countries. This book puts forward a new paradigm of monetary development theory along Keynesian lines. The approach is substantiated by providing a fresh perspective on India's economic development after Independence.
Brexit and Beyond
Brexit will have significant consequences for the country, for Europe, and for global order. And yet much discussion of Brexit in the UK has focused on the causes of the vote and on its consequences for the future of British politics. This volume examines the consequences of Brexit for the future of Europe and the European Union, adopting an explicitly regional and future-oriented perspective missing from many existing analyses. Drawing on the expertise of 28 leading scholars from a range of disciplines, Brexit and Beyond offers various different perspectives on the future of Europe, charting the likely effects of Brexit across a range of areas, including institutional relations, political e...
The future of economic governance in the EU
Inquiry conducted by Sub-committee A (Economic and Financial Affairs, and International Trade)
The State of European Integration
The State of European Integration provides scholars, practitioners, experts and students with a comprehensive account of the state of the European Union today. With contributions from leading scholars including Richard G. Whitman, Meltem Müftüler-Baç, Gülnur Aybet, Leila Simona Talani and Gareth Dale, the book examines the EU in a theoretically informed and empirically grounded manner. Opening with an exploration into the nature of the European Union as an international actor, it then assesses the impact of enlargement on institutions, policies and identity. The contributors investigate issues related to the degree of convergence and cohesion among members, and analyze the economic and monetary state of integration. The volume comes at a timely interval when there is a need to understand the present and future of the European Union.
Flexible Europe
The European Union (EU) is often portrayed as sacrificing national diversity for European unity. This book explores the alternative of a flexible EU based on differentiated rather than uniform integration. The authors combine normative theory with empirical research on political party actors to assess the desirability and political acceptability of differentiated integration as a means of accommodating heterogeneity in the EU. They examine the circumstances and institutional design needed for flexibility to promote rather than undermine fairness and democracy within and between member states. Clear, balanced, and accessible, the book provides fresh thinking on the future of the EU.
