the Political Economy of European Union

The core business of the European Union is the creation of an integrated European market. The scale of this project is enormous, covering a wide variety of national models' of capitalism, many of which are marked by a heavy reliance on non-market institutions to govern and co-ordinate economic activity. The core business of the European Union is the creation of an integrated European market. The scale of this project is enormous, covering a wide variety of national ‘models' of capitalism, many of which are marked by a heavy reliance on non-market institutions to govern and co-ordinate economic activity. This book introduces students to the fundamentals of European Union policy towards these national political economic governance institutions and the challenges arising from this evolving relationship. Chapter One examines the role of institutions in governing capitalist systems. Chapter Two explores the evolution of the EU's liberal ambition over the last five decades. Subsequent chapters then analyse the development of EU policy in relation to the governance of product, financial and labour markets. What sort of restructuring has it sought to achieve? How great a challenge do EU policies present to national practices? How effective have been its strategies of Europeanisation? In short, to what extent has it effected a liberal transformation in the institutional governance of European capitalism? At issue are fundamental questions concerning the power and status of nation-states in the context of the most ambitious experiment in co-operative regional integration yet witnessed. The core business of the European Union is the creation of an integrated European market. The scale of this project is enormous, covering a wide variety of national ‘models' of capitalism, many of which are marked by a heavy reliance on non-market institutions to govern and co-ordinate economic activity. This book introduces students to the fundamentals of European Union policy towards these national political economic governance institutions and the challenges arising from this evolving relationship. Chapter One examines the role of institutions in governing capitalist systems. Chapter Two explores the evolution of the EU's liberal ambition over the last five decades. Subsequent chapters then analyse the development of EU policy in relation to the governance of product, financial and labour markets. What sort of restructuring has it sought to achieve? How great a challenge do EU policies present to national practices? How effective have been its strategies of Europeanisation? In short, to what extent has it effected a liberal transformation in the institutional governance of European capitalism? At issue are fundamental questions concerning the power and status of nation-states in the context of the most ambitious experiment in co-operative regional integration yet witnessed.

This book offers a generic explanation of the political economy of the EU, demonstrating in a clear and comprehensive way how the present institutional set-up makes it vulnerable to lobbyism, corruption and the destruction of social capital. This book offers a generic explanation of the political economy of the EU, demonstrating in a clear and comprehensive way how the present institutional set-up makes it vulnerable to lobbyism, corruption and the destruction of social capital. Gert Tinggaard Svendsen contends that this 'EU disease' may be avoided by strengthening the power of the EU Parliament at the expense of the EU Commission. The book also discusses issues surrounding policy design, international negotiations on climate change and renewable energy sources. Using an interdisciplinary framework, the author examines how the current institutional set-up of the EU will determine future economic performance and will adversely affect policy outcomes. He looks at whether fundamental EU policies, such as the CAP, are consistent with economic growth or whether these policies will instead distort markets, leading to economic decline. Focusing in detail on international climate negotiations and wind energy, the author explores the way in which the design of a policy proposal can be affected by the interactions between interest groups and the institutions and bureaucrats of the EU. The case of greenhouse gas emissions trading is a unique example because it allows the author to actually measure lobbyism as the difference between the proposed design and the final EU directive. The interdisciplinary approach of the book and the original treatment of a very pertinent subject will appeal to academics, economists, political scientists and decision-makers. It will also interest and inform a wide readership in the social sciences, particularly those with an interest in the institutional structure of the EU.