Dienstag, 09. Mai 2023, 17:00 - 18:30 iCal

Market-Making and Political Authority in the EU

How a New Industrial Policy and Geopolitical Shift Is Transforming the European Union



Markets require rules, made and enforced by governments, and modern market-making has therefore unfolded as an intrinsic part of state-building. While the European Union is not a state, it has not been immune to these processes. Over the last three decades it has constructed a Single European Market and currency while building political authority and expanding its institutional capacities. The EU has done this through supranational market-making largely centered on neoliberal precepts of competition and openness. Today, however, the EU is breaking with that tradition by pursuing a visibly interventionist European industrial policy and geopolitical strategy. To grapple with this new and contentious shift, this lecture describes and maps the EU’s new version of market activism, and offers a research agenda to capture the ways in which the Europe’s changed market-making may be transforming the EU’s political authority. I look to neoliberalism’s crises as key sources of this change, and raise a series of questions about its political sources and consequences. I conclude by noting key policy challenges for the EU, the transatlantic relationship, and the international economic order.

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Centre for European Integration Research (EIF)

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Florian Sowa
Institut für Politikwissenschaft
Centre for European Integration Research (EIF)