GROWTH SLOWDOWN ENDANGERS THE ECONOMIC COHESION OF THE EUROPEAN UNION
It is argued that European integration has not fulfilled its chief economic promises. According to official documents and in compliance with post-Keynesian economic interpretation of major long-term trends characterizing the Euro area, the output growth has been increasingly weak and unstable. Produ...
Main Author: | |
---|---|
Format: | Article |
Language: | English |
Published: |
Bielsko-Biała School of Finance and Law
2016-06-01
|
Series: | Zeszyty Naukowe Wyższej Szkoły Finansów i Prawa w Bielsku-Białej |
Subjects: | |
Online Access: | http://asej.eu/gicid/01.3001.0012.2981 |
id |
doaj-9df30ee866e1426cb9f913ae3ec7a8a6 |
---|---|
record_format |
Article |
spelling |
doaj-9df30ee866e1426cb9f913ae3ec7a8a62020-11-24T21:39:08ZengBielsko-Biała School of Finance and LawZeszyty Naukowe Wyższej Szkoły Finansów i Prawa w Bielsku-Białej2543-91032543-411X2016-06-012038710110.19192/wsfip.sj3.2016.601.3001.0012.2981GROWTH SLOWDOWN ENDANGERS THE ECONOMIC COHESION OF THE EUROPEAN UNIONLeon PodkaminerIt is argued that European integration has not fulfilled its chief economic promises. According to official documents and in compliance with post-Keynesian economic interpretation of major long-term trends characterizing the Euro area, the output growth has been increasingly weak and unstable. Productivity growth has been following a decreasing trend. Income inequalities, both within and between the EU Member States, have been rising. This sorry state of affairs is likely to continue – and likely to precipitate further exits, or eventually, the dissolution of the Union. However, this outcome is not unavoidable. A better integration in the EU is possible, at least in theory. Also the negative consequences implicit in the existence of the common currency could be neutralised. However, the basic paradigms of the economic policies to be followed in the EU would have to be radically changed. First, it follows from considerations presented that the unconditional fiscal consolidation provisions still in force would have to be repelled. Second, ‘beggar-thy-neighbour’ (or mercantilist) wage policies would have to be ‘outlawed’. http://asej.eu/gicid/01.3001.0012.2981European Unionintegrationdisintegrationeconomic growthproductivityrace to the bottom |
collection |
DOAJ |
language |
English |
format |
Article |
sources |
DOAJ |
author |
Leon Podkaminer |
spellingShingle |
Leon Podkaminer GROWTH SLOWDOWN ENDANGERS THE ECONOMIC COHESION OF THE EUROPEAN UNION Zeszyty Naukowe Wyższej Szkoły Finansów i Prawa w Bielsku-Białej European Union integration disintegration economic growth productivity race to the bottom |
author_facet |
Leon Podkaminer |
author_sort |
Leon Podkaminer |
title |
GROWTH SLOWDOWN ENDANGERS THE
ECONOMIC COHESION OF THE EUROPEAN UNION |
title_short |
GROWTH SLOWDOWN ENDANGERS THE
ECONOMIC COHESION OF THE EUROPEAN UNION |
title_full |
GROWTH SLOWDOWN ENDANGERS THE
ECONOMIC COHESION OF THE EUROPEAN UNION |
title_fullStr |
GROWTH SLOWDOWN ENDANGERS THE
ECONOMIC COHESION OF THE EUROPEAN UNION |
title_full_unstemmed |
GROWTH SLOWDOWN ENDANGERS THE
ECONOMIC COHESION OF THE EUROPEAN UNION |
title_sort |
growth slowdown endangers the
economic cohesion of the european union |
publisher |
Bielsko-Biała School of Finance and Law |
series |
Zeszyty Naukowe Wyższej Szkoły Finansów i Prawa w Bielsku-Białej |
issn |
2543-9103 2543-411X |
publishDate |
2016-06-01 |
description |
It is argued that European integration has not fulfilled its chief economic
promises. According to official documents and in compliance with post-Keynesian
economic interpretation of major long-term trends characterizing the Euro area, the
output growth has been increasingly weak and unstable. Productivity growth has been
following a decreasing trend. Income inequalities, both within and between the EU
Member States, have been rising. This sorry state of affairs is likely to continue – and
likely to precipitate further exits, or eventually, the dissolution of the Union. However,
this outcome is not unavoidable. A better integration in the EU is possible, at least in
theory. Also the negative consequences implicit in the existence of the common currency
could be neutralised. However, the basic paradigms of the economic policies to be
followed in the EU would have to be radically changed. First, it follows from
considerations presented that the unconditional fiscal consolidation provisions still in
force would have to be repelled. Second, ‘beggar-thy-neighbour’ (or mercantilist) wage
policies would have to be ‘outlawed’.
|
topic |
European Union integration disintegration economic growth productivity race to the bottom |
url |
http://asej.eu/gicid/01.3001.0012.2981 |
work_keys_str_mv |
AT leonpodkaminer growthslowdownendangerstheeconomiccohesionoftheeuropeanunion |
_version_ |
1725932457232957440 |