POLITICAL ECONOMY
The economic theory underlying the conservative views on economic policy has no scientific foundations, "the Emperor has no clothes". Despite their trust in such models it has never been demonstrated that the economic system, independently of any external intervention, could produce an acceptable social order. Nobody has been able to show that the economy, through the intermediation of the markets, could reach a state of rest satisfying individual desires. On the other hand, it has been proven that this axe of research had to be dropped because of its internal inconsistency. Consequently, the rhetoric on the necessity to liberalise markets has therefore to be interpreted as a political ideology. Our view of the functioning of the economic system is in sharp opposition to this statement. [+]
Latest issued
|RECO| [Greece: Recovery, austerity and international imbalances]
A study by Matthieu Meaulle, FEPS Economic Advisor | June 2010
Global austerity leads to global crisis. The European Union austerity policy poses the risk of deepening the European crisis. However, the recent rise in world trade could be seen as an argument supporting austerity packages in the European Union, in particular in Greece. It seems then necessary to assess the cause(s) of the debt crises some member states are experiencing and analyse the possible way(s) of exit of the crisis in some of those member States given their regional and international interconnections, both in the real and financial spheres. In this respect, it will be defended that austerity all over Europe would be detrimental to growth and consequently to the debt crisis and finally to the Euro system.
|RECO| [Ways out of the crisis]
A study published as part of a collaborative project of FEPS and [ECLM] | June '10
During a time in which the EU recommends that 23 out of the 27 EU countries tighten fiscal policy, this paper looks at alternative approaches. FEPS and ECLM look the potential for the EU reforming itself out of the crisis, with a more benign outcome for employment and social justice.
Previously released
|RECO| [The Euro-zone Crisis and Reforming Economic Governance]
A study by Maria João Rodrigues, Professor of European Economic Policy at the European Studies Institute, ULB | May 2010
The European Union is now confronted with the need to undertake broad and deep reforms in its economic governance. The “Greek crisis” led to the invention of new instruments to deal with sovereign debt but it has also exposed more general and structural problems in the euro-zone. This paper builds a more comprehensive and systematic theoretical framework to analyse the economic governance of the European Union. It makes a brief assessment of past and recent developments and addresses the missing governance mechanisms by presenting some proposals of reform.
|RECO| [A 2020 Strategy]
A study published in the frame of the collaboration with [ECLM] | April '10
The European economy was hit by the worst crisis in the European Union’s history. There is therefore a major need to increase the European growth potential in the medium and long run in order for Europe to regain momentum in growth. All in all there is a huge difference between letting things be and doing something active to get the European economy back on track. The structural changes in the European economy will break the unemployment curve and increase employment so that employment will be above its 2008 level already in 2014, compared to the passive scenario where employment not will be above 2008 level until 2019.
Event
Fighting for a Financial Transaction Tax
Brussels, 15 March '10
After the devastation of the economic crisis, and the anger that this has provoked, there is now genuine political momentum for the establishment of a global financial transaction tax. FEPS and the Global Progressive Forum, within the Europeans for Financial Reforms campaign, organised a conference “Fighting for a Financial Transaction Tax - how and why?” held in Brussels on the 15th March 2010.
Event
Economic recovery plan wrap-up conference
Brussels | 18th November '09
After a dozen of seminars held in Europe, this wrap-up conference brought together all those who contributed to the discussion around, amongst others, Maria João RODRIGUES and Joaquim ALMUNIA. [+]
