IDEAS home Printed from https://ideas.repec.org/a/vrs/hjobpa/v8y2017i3p7-18n1.html
   My bibliography  Save this article

Salvaging the European Union: The Inclusive Multi-Track Supranational Option

Author

Listed:
  • Rosefielde Steven

    (University of North Carolina at Chapel Hill, Department of Economics)

Abstract

The EU has many supranational accomplishments to its credit. Frictions nonetheless exist within the EU because some members want to rollback parts of the consensus (“less Europe”) and others want to expand them (“more Europe”). The conflict cannot be amicably resolved as EU leaders are trying to do in a one-track supranational regime because both factions disagree about whether confederation or federation is best. A solution in a one-track system requires one side to capitulate to the other. This is why the EU is at an impasse. However, the conflict is easily resolved by switching from a one-track to a multi-track supranational system that allows advocates of “more Europe” and “less Europe” to do as they like in some areas, while acting collectively wherever consensus permits. The EU already accepts the multi-track principle with regard to the euro and non-euro zones, and could restore harmony to the European project by applying the principle more broadly.

Suggested Citation

  • Rosefielde Steven, 2017. "Salvaging the European Union: The Inclusive Multi-Track Supranational Option," HOLISTICA – Journal of Business and Public Administration, Sciendo, vol. 8(3), pages 7-18, December.
    • Handle: RePEc:vrs:hjobpa:v:8:y:2017:i:3:p:7-18:n:1
    DOI: 10.1515/hjbpa-2017-0019
    as

    Download full text from publisher

    File URL: https://doi.org/10.1515/hjbpa-2017-0019
    Download Restriction: no
    File URL: https://libkey.io/10.1515/hjbpa-2017-0019?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Jean Tirole, 2015. "Country Solidarity in Sovereign Crises," American Economic Review, American Economic Association, vol. 105(8), pages 2333-2363, August.
    2. R. H. Coase, 2013. "The Problem of Social Cost," Journal of Law and Economics, University of Chicago Press, vol. 56(4), pages 837-877.
    3. Rosefielde Steven, 2015. "Economic Theory of the «Second Worst»," Higher School of Economics Economic Journal Экономический журнал Высшей школы экономики, CyberLeninka;Федеральное государственное автономное образовательное учреждение высшего образования «Национальный исследовательский университет «Высшая школа экономики», vol. 19(1), pages 30-44.
    4. George B. Dantzig & Philip Wolfe, 1960. "Decomposition Principle for Linear Programs," Operations Research, INFORMS, vol. 8(1), pages 101-111, February.
    5. Daniel Kahneman, 2003. "Maps of Bounded Rationality: Psychology for Behavioral Economics," American Economic Review, American Economic Association, vol. 93(5), pages 1449-1475, December.
    6. R. G. Lipsey & Kelvin Lancaster, 1956. "The General Theory of Second Best," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 24(1), pages 11-32.
    7. Steven Rosefielde & Ralph W Pfouts, 2014. "Inclusive Economic Theory," World Scientific Books, World Scientific Publishing Co. Pte. Ltd., number 8978, September.
    8. Demsetz, Harold, 1969. "Information and Efficiency: Another Viewpoint," Journal of Law and Economics, University of Chicago Press, vol. 12(1), pages 1-22, April.
    9. Steven Rosefielde & Yiyi Liu, 2018. "Local Public Debt Management: Lessons From Greece In Inclusive Economic Perspective," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 63(04), pages 967-980, September.
    10. Bruno Dallago, 2018. "The Progressive Rift Of The Eurozone: Risks And Remedies," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 63(04), pages 943-965, September.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Steven Rosefielde & Yiyi Liu, 2018. "Local Public Debt Management: Lessons From Greece In Inclusive Economic Perspective," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 63(04), pages 967-980, September.
    2. Glenn Furton & Adam Martin, 2019. "Beyond market failure and government failure," Public Choice, Springer, vol. 178(1), pages 197-216, January.
    3. Harris,Colin & Cai,Meina & Murtazashvili,Ilia & Murtazashvili,Jennifer Brick, 2020. "The Origins and Consequences of Property Rights," Cambridge Books, Cambridge University Press, number 9781108969055, November.
    4. Haucap, Justus & Schwalbe, Ulrich, 2011. "Economic principles of state aid control," DICE Discussion Papers 17, Heinrich Heine University Düsseldorf, Düsseldorf Institute for Competition Economics (DICE).
    5. Leeson,Peter T., 2014. "Anarchy Unbound," Cambridge Books, Cambridge University Press, number 9781107025806, November.
    6. Randall Holcombe, 2009. "A reformulation of the foundations of welfare economics," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 22(3), pages 209-224, September.
    7. Jonathan M. Lee, 2015. "The Impact of Heterogeneous NOx Regulations on Distributed Electricity Generation in U.S. Manufacturing," Working Papers 15-12, Center for Economic Studies, U.S. Census Bureau.
    8. Kim, Jongwook & Mahoney, Joseph T., 2008. "A Strategic Theory of the Firm as a Nexus of Incomplete Contracts: A Property Rights Approach," Working Papers 08-0108, University of Illinois at Urbana-Champaign, College of Business.
    9. Petrick, Martin, 2004. "Governing Structural Change And Externalities In Agriculture: Toward A Normative Institutional Economics Of Rural Development," IAMO Discussion Papers 14878, Institute of Agricultural Development in Transition Economies (IAMO).
    10. Dieter Schmidtchen & Jenny Helstroffer & Christian Koboldt, 2021. "Regulatory failure and the polluter pays principle: why regulatory impact assessment dominates the polluter pays principle," Environmental Economics and Policy Studies, Springer;Society for Environmental Economics and Policy Studies - SEEPS, vol. 23(1), pages 109-144, January.
    11. Darcy W. E. Allen & Chris Berg & Sinclair Davidson & Jason Potts, 2022. "On Coase and COVID-19," European Journal of Law and Economics, Springer, vol. 54(1), pages 107-125, August.
    12. Haucap, Justus, 2021. "Glücksspielregulierung aus ordnungsökonomischer Perspektive," DICE Ordnungspolitische Perspektiven 110, Heinrich Heine University Düsseldorf, Düsseldorf Institute for Competition Economics (DICE).
    13. Abraham Singer, 2018. "Justice Failure: Efficiency and Equality in Business Ethics," Journal of Business Ethics, Springer, vol. 149(1), pages 97-115, April.
    14. Ervin, David E. & Fox, Glenn, 1998. "Environmental Policy Considerations In The Grain-Livestock Subsectors In Canada, Mexico And The United States," Proceedings of the 4th Agricultural and Food Policy Systems Information Workshop 1998: Economic Harmonization in the Canadian\U.S.\Mexican Grain-Livestock Subsector; 16754, Farm Foundation, Agricultural and Food Policy Systems Information Workshops.
    15. Christian Leuz, 2010. "Different approaches to corporate reporting regulation: How jurisdictions differ and why," Accounting and Business Research, Taylor & Francis Journals, vol. 40(3), pages 229-256.
    16. Roumasset, James A., 1994. "Explaining Diversity In Agricultural Organization: An Agency Perspective," Bulletins 12982, University of Minnesota, Economic Development Center.
    17. Bruno Tinel, 2004. "Que reste-t-il de la contribution d'Alchian et Demsetz à la théorie de l'entreprise ?," Post-Print halshs-00270895, HAL.
    18. Elzas, B.D., 1998. "Williamson's "New Institutional Economics" : a case for applying Ockham's razor," Serie Research Memoranda 0037, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
    19. Nguyen, N.P. & Shortle, J.S. & Reed, P.M. & Nguyen, T.T., 2013. "Water quality trading with asymmetric information, uncertainty and transaction costs: A stochastic agent-based simulation," Resource and Energy Economics, Elsevier, vol. 35(1), pages 60-90.
    20. Adam Martin, 2014. "Where are the big bills? Escaping the endogenizer’s dilemma," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 27(1), pages 81-95, March.

    More about this item

    Keywords

    EU; Supranationality; one-track supranationality; multi-track supranationality;
    All these keywords.

    JEL classification:

    • E02 - Macroeconomics and Monetary Economics - - General - - - Institutions and the Macroeconomy
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
    • H77 - Public Economics - - State and Local Government; Intergovernmental Relations - - - Intergovernmental Relations; Federalism
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe
    • P11 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Planning, Coordination, and Reform
    • P17 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Performance and Prospects

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:vrs:hjobpa:v:8:y:2017:i:3:p:7-18:n:1. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Peter Golla (email available below). General contact details of provider: https://www.sciendo.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.