The Qualitative Shift in European Integration: Towards permanent wage pressures and a ‘Latin-Americanization’ of Europe?
US economist Hyman Minsky jokingly used to claim that there are as many varieties of capitalism as Heinz has pickles, that is 57 varieties (Minsky 1991). In this paper we argue that economic integration provides a similar analytical problem: economic integration can take many forms, and some are more conducive to wealth and freedom than others. Colonialism was probably the first form of international economic integration, and a very close form of integration at that. Intuitively we understand that what the European Union has attempted to achieve – ever since Winston Churchill called for ‘a kind of United States of Europe’ in a 1946 Zurich University speech – is something qualitatively very different from colonialism. In this paper we argue that European economic integration has made a qualitative shift from one type of economic integration to another, from a Listian symmetrical economic integration to an integrative and asymmetrical integration. We argue that this change – originating in a new definition of the nature of capitalism – is measurably threatening European welfare, first in the economic periphery and secondly potentially also in the core countries.
|Date of creation:||Oct 2004|
|Date of revision:|
|Contact details of provider:|| Postal: Ludwigstraße 33, D-80539 Munich, Germany|
Web page: https://mpra.ub.uni-muenchen.de
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Allen Schick, 2003. "The Performing State: Reflection on an Idea Whose Time Has Come but Whose Implementation Has Not," OECD Journal on Budgeting, OECD Publishing, vol. 3(2), pages 71-103.
- Reinert, Erik S., 2004. "How rich nations got rich. Essays in the history of economic policy," MPRA Paper 48147, University Library of Munich, Germany.
- Tarmo Kalvet, 2004. "The Estonian ICT Manufacturing and Software Industry: Current State and Future Outlook," Development and Comp Systems 0406006, EconWPA.
- anonymous, 2003. "Embracing change," Annual Report, Federal Reserve Bank of Boston, pages 6-31.
- Carolina Castaldi & Mario Cimoli & Nelson Correa & Giovanni Dosi, 2004. "Technological Learning, Policy Regimes and Growth in a `Globalized' Economy: General Patterns and the Latin American Experience," LEM Papers Series 2004/01, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
- Mario Cimoli & Nelson Correa, 2002. "Trade Openess and Technological Gaps in Latin America: a Low Growth Trap," LEM Papers Series 2002/14, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:47909. 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: (Joachim Winter)
If references are entirely missing, you can add them using this form.