IDEAS home Printed from https://ideas.repec.org/a/cup/eurrev/v19y2011i01p69-91_00.html
   My bibliography  Save this article

The Return of the State?

Author

Listed:
  • Delwaide, Jacobus

Abstract

Massive government-financed rescue operations for banking and insurance industries in the United States and in Europe, seeking to contain the financial crisis that culminated in 2008, amounted to ‘the biggest, broadest and fastest government response in history.’ 1 This ‘great stabilisation,’ as The Economist called it, resulting in ‘quasi’ or ‘shadow nationalization,’ 2 cast doubt on the notion, fashionable at the height of the neoliberal wave, that the state was essentially on its way out, as many of its tasks and responsibilities were oozing steadily and irreversibly toward the market. The state and, by the same token, the political seemed back – with a vengeance, triggering solemn announcements of ‘the return of the state’ and ‘the end of the ideology of public powerlessness.’ 3 Observers concurred. ‘Free-market capitalism, globalization, and deregulation’ had been ‘rising across the globe for 30 years,’ yet that era now had ended: ‘Global economic and financial integration are reversing. The role of the state, together with financial and trade protectionism, is ascending.’ 4 Triggering a perceived ‘paradigm shift towards a more European, a more social state,’ even in the United States and in China, the crisis was seen to herald a move ‘back towards a mixed economy.’ 5 The question, meanwhile, remained: had the state indeed withdrawn as much during the neoliberal era as is often assumed?

Suggested Citation

  • Delwaide, Jacobus, 2011. "The Return of the State?," European Review, Cambridge University Press, vol. 19(01), pages 69-91, February.
  • Handle: RePEc:cup:eurrev:v:19:y:2011:i:01:p:69-91_00
    as

    Download full text from publisher

    File URL: http://journals.cambridge.org/abstract_S1062798710000311
    File Function: link to article abstract page
    Download Restriction: no

    References listed on IDEAS

    as
    1. Docquier, Frederic & Rapoport, Hillel, 2004. "Skilled migration: the perspective of developing countries," Policy Research Working Paper Series 3382, The World Bank.
    2. Panu Poutvaara, 2008. "On human capital formation with exit options: comment and new results," Journal of Population Economics, Springer;European Society for Population Economics, pages 679-684.
    3. Schiff, Maurice, 2005. "Brain Gain: Claims about Its Size and Impact on Welfare and Growth Are Greatly Exaggerated," IZA Discussion Papers 1599, Institute for the Study of Labor (IZA).
    4. Christopher Spencer & Paul Levine & Parimal Bag, 2006. "A note on: jury size and the free rider problem," Economics Bulletin, AccessEcon, pages 1-12.
    5. D'Artis Kancs & Pavel Ciaian, 2011. "Modelling the flow of knowledge and human capital: a framework of innovative capital," International Journal of Public Policy, Inderscience Enterprises Ltd, pages 134-160.
    6. Brian Duncan & Stephen J. Trejo, 2011. "Intermarriage and the Intergenerational Transmission of Ethnic Identity and Human Capital for Mexican Americans," Journal of Labor Economics, University of Chicago Press, vol. 29(2), pages 195-227.
    7. Borjas, G.J., 1999. "Economic Research on the Determinants of Immigration. Lesons for the European Union," Papers 438, World Bank - Technical Papers.
    8. Borjas, George J & Freeman, Richard B & Katz, Lawrence, 1996. "Searching for the Effect of Immigration on the Labor Market," American Economic Review, American Economic Association, pages 246-251.
    9. David Card, 2005. "Is the New Immigration Really so Bad?," Economic Journal, Royal Economic Society, vol. 115(507), pages 300-323, November.
    10. David Blanchflower & Jumana Saleheen & Chris Shadforth, 2007. "The impact of the recent migration from Eastern Europe on the UK economy," Discussion Papers 17, Monetary Policy Committee Unit, Bank of England.
    11. Stephen Drinkwater & John Eade & Michal Garapich, 2006. "Poles Apart? EU Enlargement and the Labour Market Outcomes of immigrants in the UK," School of Economics Discussion Papers 1706, School of Economics, University of Surrey.
    12. Borjas, George J., 2003. "Welfare reform, labor supply, and health insurance in the immigrant population," Journal of Health Economics, Elsevier, pages 933-958.
    13. Bhagwati, Jagdish & Hamada, Koichi, 1974. "The brain drain, international integration of markets for professionals and unemployment : A theoretical analysis," Journal of Development Economics, Elsevier, pages 19-42.
    14. Louka T. Katseli & Robert E.B. Lucas & Theodora Xenogiani, 2006. "Effects of Migration on Sending Countries: What Do We Know?," OECD Development Centre Working Papers 250, OECD Publishing.
    15. D’Artis Kancs, 2005. "Can we use NEG models to predict migration flows? An example of CEE accession countries," Migration Letters, Transnational Press London, UK, pages 32-63.
    16. Miguel León-Ledesma & Matloob Piracha, 2001. "International Migration and the Role of Remittances in Eastern Europe," Studies in Economics 0113, School of Economics, University of Kent.
    17. Mattoo, Aaditya & Neagu, Ileana Cristina & Özden, Çaglar, 2008. "Brain waste? Educated immigrants in the US labor market," Journal of Development Economics, Elsevier, pages 255-269.
    18. Cox, Donald, 1987. "Motives for Private Income Transfers," Journal of Political Economy, University of Chicago Press, pages 508-546.
    19. Grossman, Michael, 1982. "Government and Health Outcomes," American Economic Review, American Economic Association, pages 191-195.
    20. Grossman, Michael, 1982. "Government and Health Outcomes," American Economic Review, American Economic Association, pages 191-195.
    21. Carrington, William J & Detragiache, Enrica & Vishwanath, Tara, 1996. "Migration with Endogenous Moving Costs," American Economic Review, American Economic Association, pages 909-930.
    22. D’Artis Kancs, 2005. "Can we use NEG models to predict migration flows? An example of CEE accession countries," Migration Letters, Transnational Press London, UK, pages 32-63.
    23. Beine, Michel & Docquier, Frederic & Rapoport, Hillel, 2001. "Brain drain and economic growth: theory and evidence," Journal of Development Economics, Elsevier, pages 275-289.
    24. Randall Filer, 1992. "The Effect of Immigrant Arrivals on Migratory Patterns of Native Workers," NBER Chapters,in: Immigration and the Workforce: Economic Consequences for the United States and Source Areas, pages 245-270 National Bureau of Economic Research, Inc.
    25. George J. Borjas, 2005. "The Labor-Market Impact of High-Skill Immigration," American Economic Review, American Economic Association, pages 56-60.
    26. Beine, Michel & Docquier, Frederic & Rapoport, Hillel, 2001. "Brain drain and economic growth: theory and evidence," Journal of Development Economics, Elsevier, pages 275-289.
    27. George J. Borjas, 1994. "The Economics of Immigration," Journal of Economic Literature, American Economic Association, pages 1667-1717.
    28. Furman, Jeffrey L. & Porter, Michael E. & Stern, Scott, 2002. "The determinants of national innovative capacity," Research Policy, Elsevier, pages 899-933.
    29. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, pages 3-42.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cup:eurrev:v:19:y:2011:i:01:p:69-91_00. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Keith Waters). General contact details of provider: http://journals.cambridge.org/jid_ERW .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.