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The single European market - a Schumpeterian event?

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  • Siebert, Horst

Abstract

It is now four years after the White Paper launched the project on the completion of the internal market [Commission, 1985]. 300 steps were packaged and sold in a manner by Delors and Lord Cockfield that "caught on". The basic strategy is simple: abolish or reduce market segmentations that still exist, facilitate free market access, as well as establish the free movement of people, goods, services, and capital (the so-called four freedoms). Will the single European market prove to be an institutional innovation - a Schumpeterian event in a region of the world that has been characterized by Eurosclerosis [ Giersch, 1985] and overreg ulation? Is Europe '92 an example of political entrepreneurship in the sense of Schumpeter and shall we see "new combinations of means of production" [Schumpeter, 1934, p. 74] being carried out? Or is Europe' 92 a "flash in the pan", flambe a la Delors, concocted by Cockfield, propagated by the press, public speeches and scientific conferences, but eventually dying from internal rent-seeking and protectionism?

Suggested Citation

  • Siebert, Horst, 1989. "The single European market - a Schumpeterian event?," Kiel Discussion Papers 157, Kiel Institute for the World Economy (IfW Kiel).
    • Handle: RePEc:zbw:ifwkdp:157
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    1. Donges, Juergen B., 1989. "Die EG auf dem Weg zum Binnenmarkt? Erwartungen, Konsequenzen, Probleme," Kiel Working Papers 360, Kiel Institute for the World Economy (IfW Kiel).
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    3. Grimm, Doris E. & Schatz, Klaus-Werner & Trapp, Peter, 1989. "EG 1992: Strategien, Hindernisse, Erfolgsaussichten," Kiel Discussion Papers 151, Kiel Institute for the World Economy (IfW Kiel).
    4. Giersch, Herbert, 1985. "Eurosclerosis," Kiel Discussion Papers 112, Kiel Institute for the World Economy (IfW Kiel).
    5. Kostrzewa, Wojciech Julian & Schmieding, Holger, 1989. "The EFTA option for Eastern Europe: Towards an economic reunification of the divided continent," Kiel Working Papers 397, Kiel Institute for the World Economy (IfW Kiel).
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    1. Lammers, Konrad, 1990. "Mehr regionalpolitische Kompetenzen für die EG im europäischen Binnenmarkt?," Kiel Working Papers 439, Kiel Institute for the World Economy (IfW Kiel).

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