EU Aggregate Demand As a Way out of Crisis? Engaging the Post-Keynesian Critique: EU Aggregate Demand As a Way out of Crisis?

Bieler, Andreas; Jordan, Jamie; Morton, Adam David

Abstract

Post-Keynesians have delivered an important advance in providing explanations of the Eurozone Crisis, not the least in demonstrating how the formation of the European integration project lacked the means to manage effectively the macroeconomic imbalances between ‘core’ and ‘peripheral’ spaces across the region. Through a critical engagement with such descriptions, this article argues that to account more adequately for the formation of the asymmetrical and crisis-ridden forms of development across the Eurozone, it is necessary to focus on the uneven and combined development of Europe’s ‘peripheral’ spaces and their integration into an expanded free trade regime since the 1980s. It is through a focus on the structuring condition of uneven and combined development shaped by capitalist social relations of production and attendant class struggles that we can better locate the origins of the present crisis.

Citation

Bieler, A., Jordan, J., & Morton, A. D. (2019). EU Aggregate Demand As a Way out of Crisis? Engaging the Post-Keynesian Critique: EU Aggregate Demand As a Way out of Crisis?. Journal of Common Market Studies, 57(4), 805-822. https://doi.org/10.1111/jcms.12843

• Journal Article Type: Article
• Acceptance Date: Jul 26, 2018
• Online Publication Date: Jan 30, 2019
• Publication Date: Jul 1, 2019
• Deposit Date: Sep 23, 2018
• Publicly Available Date: Jan 31, 2021
• Journal: JCMS: Journal of Common Market Studies
• Print ISSN: 0021-9886
• Electronic ISSN: 1468-5965
• Publisher: Wiley
• Peer Reviewed: Peer Reviewed
• Volume: 57
• Issue: 4
• Pages: 805-822
• DOI: https://doi.org/10.1111/jcms.12843
• Keywords: Class struggle; Eurozone crisis; Greece; Portugal; Uneven and combined development
• Public URL: https://nottingham-repository.worktribe.com/output/1128169
• Publisher URL: https://onlinelibrary.wiley.com/doi/full/10.1111/jcms.12843
• Additional Information: This is the peer reviewed version of the article, which has been published in final form at https://onlinelibrary.wiley.com/doi/full/10.1111/jcms.12843 This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Use of Self-Archived Versions.