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Nicholas Kaldor and Kazimierz Å aski on the pitfalls of the European integration process

Author

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  • Michael A. Landesmann

    (Vienna Institute for International Economic Studies (wiiw) and Johannes Kepler University Linz, Austria)

Abstract

Nicholas Kaldor and Kazimierz Šaski have been two very prominent exponents of Keynesian thinking. They both contributed to the debate on European economic integration, one (Nicholas Kaldor) in the early 1970s, when there were fierce debates about the United Kingdom's entry to the European Communities, and the other (Kazimierz Šaski) in the wake of the financial and economic crisis of 2008–2012, when the European Union and its Economic and Monetary Union were seriously challenged by potential disintegration. Both exponents provided deep and complementary inputs into an understanding of the centrifugal forces at work when a region with a rudimentary federal structure (but an extremely weak ‘central state’) embarks on tight economic integration with an inadequate macroeconomic policy framework in place.

Suggested Citation

  • Michael A. Landesmann, 2019. "Nicholas Kaldor and Kazimierz Å aski on the pitfalls of the European integration process," European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing, vol. 16(3), pages 344-369, December.
    • Handle: RePEc:elg:ejeepi:v:16:y:2019:i:3:p344-369
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    Keywords

    European integration; macroeconomic imbalances; balance-of-payments constraints; EU and EMU reforms; Nicholas Kaldor; Kazimierz Å aski;
    All these keywords.

    JEL classification:

    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • E65 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Studies of Particular Policy Episodes
    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F15 - International Economics - - Trade - - - Economic Integration
    • F42 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Policy Coordination and Transmission
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • F55 - International Economics - - International Relations, National Security, and International Political Economy - - - International Institutional Arrangements

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