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...
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| Format: | Article |
| Language: | English |
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University of Applied Sciences in Bielsko-Biała
2016-10-01
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| Series: | Zeszyty Naukowe Wyższej Szkoły Finansów i Prawa w Bielsku-Białej |
| Subjects: | |
| Online Access: | https://ssl.wsfip.edu.pl/index.php/asej/article/view/456 |
| _version_ | 1797246176030883840 |
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| author | Leon Podkaminer |
| author_facet | Leon Podkaminer |
| author_sort | Leon Podkaminer |
| collection | DOAJ |
| 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’. |
| first_indexed | 2024-04-24T19:38:38Z |
| format | Article |
| id | doaj.art-6ee5a6b9749448c48567ff1525237997 |
| institution | Directory Open Access Journal |
| issn | 2543-9103 2543-411X |
| language | English |
| last_indexed | 2024-04-24T19:38:38Z |
| publishDate | 2016-10-01 |
| publisher | University of Applied Sciences in Bielsko-Biała |
| record_format | Article |
| series | Zeszyty Naukowe Wyższej Szkoły Finansów i Prawa w Bielsku-Białej |
| spelling | doaj.art-6ee5a6b9749448c48567ff15252379972024-03-25T11:33:35ZengUniversity of Applied Sciences in Bielsko-BiałaZeszyty Naukowe Wyższej Szkoły Finansów i Prawa w Bielsku-Białej2543-91032543-411X2016-10-01203GROWTH 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’. https://ssl.wsfip.edu.pl/index.php/asej/article/view/456European Unionintegrationdisintegrationeconomic growthproductivityrace to the bottom |
| 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 |
| title | 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_short | GROWTH SLOWDOWN ENDANGERS THE ECONOMIC COHESION OF THE EUROPEAN UNION |
| title_sort | growth slowdown endangers the economic cohesion of the european union |
| topic | European Union integration disintegration economic growth productivity race to the bottom |
| url | https://ssl.wsfip.edu.pl/index.php/asej/article/view/456 |
| work_keys_str_mv | AT leonpodkaminer growthslowdownendangerstheeconomiccohesionoftheeuropeanunion |