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Institutions in Crisis


  • David Howden


This critical and thought-provoking book explores the causes and consequences of Europe’s failed political and economic institutions. Europe’s recession has created new challenges as market turmoil has shaken the foundations of the twin pillars of the new drive for European integration – political and monetary unions. This book critically assesses the patchwork solutions continually offered to hold the troubled unions together. Failed political policies, from the prodigious ‘Common Agricultural Policy’ to ever more common fiscal stimulus packages, are shown to have bred less than stellar results in the past, and to have devastating implications for future European growth. The contributors outline the manner through which European monetary union has subsidized and continues to exacerbate the burgeoning debt crisis. Most strikingly, the interplay between Europe’s political and economic realms is exposed as the boondoggle it is, with increasingly bureaucratic institutions plaguing the continent and endangering future potential.

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Suggested Citation

  • David Howden (ed.), 2011. "Institutions in Crisis," Books, Edward Elgar Publishing, number 14370.
  • Handle: RePEc:elg:eebook:14370

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    References listed on IDEAS

    1. Norman R. Collins, 1963. "Discussion: The European Common Market and Agriculture," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 45(5), pages 993-996.
    2. Johan F. M. Swinnen & Harry de Gorter, 2002. "On government credibility, compensation and under-investment in public research," European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, vol. 29(4), pages 501-522, December.
    3. Abe S. Tuinman, 1963. "The European Economic Community and Its Agricultural Policy," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 45(5), pages 974-982.
    4. Franz Fischler, 2008. "Europe's CAP: Changes and Challenges," EuroChoices, The Agricultural Economics Society, vol. 7(SpecialIs), pages 22-27, August.
    5. Michel Petit, 2008. "The CAP After Fifty Years: A Never-Ending Reform Process," EuroChoices, The Agricultural Economics Society, vol. 7(SpecialIs), pages 44-44, August.
    6. Spoerer, Mark, 2010. ""Fortress Europe" in long-term perspective: agricultural protection in the European Community, 1957-2003," MPRA Paper 24120, University Library of Munich, Germany.
    7. Elmer W. Learn, 1963. "The Impact of European Integration on American Agriculture," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 45(5), pages 983-991.
    8. Zahrnt, Valentin, 2009. "Public Money for Public Goods: Winners and Losers from CAP Reform," ECIPE Working Papers 51300, European Centre for International Political Economy (ECIPE).
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    Book Chapters

    The following chapters of this book are listed in IDEAS


    Economics and Finance; Politics and Public Policy;

    JEL classification:

    • B5 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches
    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory


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