Salvaging the EU : Two-Speed or Dual-Track Reform?

• Autorzy: Steven Rosefielde
• Języki publikacji: EN

Abstrakty

EN

In the most recent decade, the European Union has shown itself to be less robust than globalists imagined. Globalists believed that supranationality was weatherproof - that it would always outperform national alternatives and would survive adversity. Economic stagnation and Brexit belied these expectations. This essay investigates one aspect of the EU's supranational plight: incompatible goals and the difficulty of mutual accommodation, especially during hard times. EU supranationalists contend that the shared dreams assure harmonious results, but experience reveals that supranational government is shakier than advocates claim because shared ideals and benefits have not been enough for members to put aside conflicting national interests. These rivalries do not doom the European Union's globalizing project, but they do expose the vulnerabilities of its premises. Supranational union is proving to be unsatisfactory to both many centralizers demanding "more Europe" and decentralizers insisting on "less Europe". EU leaders are aware of the problem but are wedded to a one-track, two-speed supranational approach that is destined to fail. A dual-track supranational solution analogous to China's "one country, two systems" offers a better alternative. (original abstract)

Słowa kluczowe

EN

Nationality; Globalization

PL

Narodowość; Globalizacja

• Czasopismo: Contemporary Economics
• Rocznik: 2019
• Tom: 13
• Numer: nr 2
• Strony: 137--145

Twórcy

autor

Steven Rosefielde

• University of North Carolina, USA

Bibliografia

• Bachmann, A. (2016). Melting pot or tossed salad? Implications for designing effective multicultural workgroups, Management International Review, 46(6), 721-748.
• Bolton, J. (2016). Brexit Victory is a True Populist Revolt. Boston: Boston Globe. Available at http://www.aei.org/publication/brexit-victory-is-a-true-populist
• CIA. (2019). World Factbook. Available at https://www.cia.gov/library/publications/the-world-factbook/geos/uk.html
• Dallago, B. (2016). The Progressive Rift of the Eurozone: Risks and Remedies. The Singapore Economic Review, 63(4), 943-965.
• Dallago, B., & McGowan, J. (2016). Crises in Europe in the Transatlantic Context: Economic and Political Appraisals. London, UK: Routledge.
• Dallago, B., Guri, G., & McGowan, J. (Eds.). (2016). A Global Perspective on the European Economic Crisis. London, UK: Routledge.
• European Commission. (2017). Reflection Paper on the Deepening of the Economic and. Brussels. Available at https://ec.europa.eu/commission/sites/betapolitical/files/reflection-paperemu_
• European Union. (2017). The Rome Declaration, Declaration of the leaders of 27 member states and of the European Council, the European Parliament and the European Commission. Brussels: European Council. Available at https://www.consilium.europa.eu/en/press/press-releases/2017/03/25/rome-declaration/
• Fleming, M. (1962). Domestic Financial Policies under Fixed and Flexible Exchange Rates. Washington, DC: International Monetary Fund.
• Giles, C. (2016, June 27). Brexit in Seven Charts - the Economic Impact. Financial Times. Available at https://www.ft.com/content/0260242c-370b-11e6-9a05-82a9b15a8ee7
• Grabbe, H., & Stefan, L. (2017). Defending EU Values in Poland and Hungary, Carnegie Europe. Available at http://carnegieeurope.eu/2017/09/04/defending-eu-values-in-poland-and-hungarypub-72988
• Grauwe, P. D. (2010). The Greek Crisis and the Future of the Eurozone. The Structural Problem in the Eurozone is Created by the Fact that the Monetary Union is not Embedded in a Political Union. Brussels: Euro Intelligence.
• Gretschmann, K. (2016). The EU in Stormy Seas: Beginning of the End or End of the Beginning. In: B. B. Dallago, G. Guri , & J. McGowan (Eds.), A Global Perspective on the European Economic Crisis (pp. 21-32). London, UK: Routledge.
• Jarman, H., & Greer, S. (2016). Reinforcing Europe's Failed Fiscal Regulatory State. In: B. Dallago, G. Guri, & J. McGowan, A Global Perspective on the European Economic Crisis. London, UK: Routledge.
• Maddison, A. (2003). The World Economy: Histoical Statistics. Alailable at http://www.ggdc.net/maddison/Historical_Statistics/horizontal-file_03-2009xls
• McKinnon, R. (1963). A Theory of Optimum Currency Areas. American Economic Review, 51(4), 657-665.
• Mills, Q., & Rosefielde, S. (2016). The Trump Phenomenon and Future US Foreign Policy. Singapore: World Scientific Publishers.
• Mundell, R. (1963). Capital Mobility and Stabilization Policy under Fixed and Flexible Exchange Rates. Canadian Journal of Economic and Political Science, 25(4), 475-485.
• Piattoni, S. (2016). Institutional Innovations and EU Legitimacy after the Crisis. In: J. McGowan, & B. Dallago, Crises in Europe in the Transatlantic Context: Economic and Political Appraisals. London, UK: Routledge.
• Piketty, T. (2014). Capital in the Twenty-First Century. Cambridge, UK: Harvard University Press.
• Razin, A., & Rosefielde, S. (2016). Israel and Global Developments 1990-2015: Riding with the Global Flows and Weathering the Storms (Working Paper No. 22567). The National Bureau of Economics Research. Retrieved from https://www.nber.org/papers/w22567.pdf
• Razin, A., & Rosefielde, S. (forthcoming). The European Project after Greece's Near Default. Israel Economics Journal.
• Rosefielde, S., & Razin, A. (2012a). A Tale of a Politically - Failing Single-Currency Area. Israel Economic Review, 10(1), 125-138.
• Rosefielde, S., & Razin, A. (2012b). What Really Ails the Eurozone? Fualty Supranational Architecture. Contemporary Economics, 6(4), 10-18.
• Rosefielde, S. (2015). The Mundell-Fleming Trilemma and EU De-Legitimation. In B. Dallago, & J. Mc-Gowan, Crises in Europe in the Transatlantic Context: Economic and Political Appraisals. London, UK: Routledge.
• Rosefielde, S., & Pfouts, R. (2015). Inclusive Economic Theory. Singapore: World Scientific Publishers.
• Rosefielde, S. (2016a). The European Project: Moving Forward with Dry Eyes. In: G. Gury, & J. Mc-Gowan, A Global Perspective on the European Economic Crisis. London, UK: Routledge.
• Rosefielde, S. (2016b). Grexit and Brexit: Rational choice, compatibility, and coercive adaptation. Acta Oeconomica, 66, 77-91.
• Rosefielde, S., & Liu, Y. (2017). Sovereign Debt Crises: Solidarity and Power. The Journal of Comparative Economic Studies, 12, 101-112.
• Rosefielde, S. (2018). Salvaging the European Union: The Inclusive Multi-Track Supranational Option. HOLISTICA - Journal of Business and Public Administration, 8(3), 7-18.
• Rosefielde, S., & Dallago, B. (2019). The strange fate of Brexit and Grexit and the Eurozone. Contemporary Economics, 13(1), 99-106.
• Sargent, T. (2012). Nobel Lecture: United States Then, Europe Now. Journal of Political Economy, 120(1), 1-40.
• Thaler, T. (2015). Misbehaving: The Making of Behavioral Economics. New York, NY: W. W. Norton & Company.
• Tirole, J. (2015). Country Solidarity in Sovereign Crisis. American Economic Review, 105(8), 2333-2363.

Identyfikatory

DOI

10.5709/ce.1897-9254.304