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The Political Economy of Europe since 1945: A Kaleckian perspective

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Listed:
  • Joseph Halevi

    (International University College of Turin)

Abstract

This paper analyzes the early stages of the formation of the Common Market. The period covered runs from the end of WW2 to 1959, which is the year in which the European Payments Union ceased to operate. The essay begins by highlighting the differences between the prewar political economy of Europe and the new dimensions and institutions brought in by the United States after 1945. It focuses on the marginalization of Britain and on the relaunching of French great power ambitions and how the latter determined, in a very problematical way, the European complexion of France. Because of France '92s imperial aspirations, France, not West Germany, emerged as the politically crisis prone country of Europe acting as a factor of instability thereby jeopardizing the process of European integration, Among the large European nations, Germany and Italy appear, for opposite economic reasons, as the countries most focused on furthering integration. Germany expressed the strongest form of neomercantilism while Italy the weakest.

Suggested Citation

  • Joseph Halevi, 2019. "The Political Economy of Europe since 1945: A Kaleckian perspective," Working Papers Series 100, Institute for New Economic Thinking.
    • Handle: RePEc:thk:wpaper:100
    DOI: 10.36687/inetwp104
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    File URL: https://doi.org/10.36687/inetwp100
    File Function: First version, 2019
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    References listed on IDEAS

    as
    1. Dormois,Jean-Pierre, 2004. "The French Economy in the Twentieth Century," Cambridge Books, Cambridge University Press, number 9780521660921.
    2. Harald Hagemann & Heinz D. Kurz (ed.), 1998. "Political Economics in Retrospect," Books, Edward Elgar Publishing, number 761.
    3. Dormois,Jean-Pierre, 2004. "The French Economy in the Twentieth Century," Cambridge Books, Cambridge University Press, number 9780521667876.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    European Monetary System; Common Market; France; Germany; Italy; Netherlands; currency depreciation; European Monetary Union;
    All these keywords.

    JEL classification:

    • E02 - Macroeconomics and Monetary Economics - - General - - - Institutions and the Macroeconomy
    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F5 - International Economics - - International Relations, National Security, and International Political Economy
    • N14 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: 1913-
    • N24 - Economic History - - Financial Markets and Institutions - - - Europe: 1913-

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