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| Titel: |
The social democratic predicament in the emerging European Union: A capital dilemma1 |
| Auteur: |
Moses, Jonathon W. |
| Verschenen in: |
Journal of European public policy |
| Paginering: | Jaargang 2 (1995) nr. 3 pagina's 407-426 |
| Jaar: |
1995-09 |
| Inhoud: |
This article models the social democratic predicament in two stages. First, the corporatist bargaining arrangement familiar to Nordic social democracies is sketched in simple game terms. With highly centralized collective bargaining arrangements, successful policy outcomes can be understood as solutions to something akin to a prisoners' dilemma problem. The government plays a guarantor's role in this capital-closed economy game, using traditional macroeconomic policies to help secure co-operative, Pareto efficient, solutions. The second stage introduces (financial) capital mobility. With increased capital mobility, traditional macroeconomic policies are shown to be less efficient, jeopardizing the ability of governments to induce co-operative equilibrium. While the models are designed with the Nordic social democracies in mind, the author generalizes about their utility for describing the fate of other industrialized economies in an increasingly integrated regional and international economy. |
| Uitgever: |
Routledge |
| Bronbestand: |
Elektronische Wetenschappelijke Tijdschriften |
Details van artikel 15 van 15 gevonden artikelen
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