The Nobel Prize–winning economist and best-selling author explains why saving Europe may mean abandoning the euro. When Nobel Prize–winning economist Joseph E. Stiglitz posed this question in the original edition of The Euro, he lent much-needed clarity to a global debate that continues to this day. The euro was supposed to unify Europe and promote prosperity; in fact, it has done just the opposite. To save the European project, the euro may have to be abandoned. Since 2010, many of the 19 countries of Europe that share the euro currency—the eurozone—have been rocked by debt crises and mired in lasting stagnation, and the divergence between stronger and weaker economies has accelerated. In The Euro, Joseph E. Stiglitz explains precisely why the eurozone has performed so poorly, so different from the expectations at its launch: at the core of the failure is the structure of the eurozone itself, the rules by which it is governed. Stiglitz reveals three potential paths forward: drastic structural reforms, not of the individual countries, but of the eurozone; a well-managed dissolution of the euro; or a bold new system dubbed the “flexible euro.” With trenchant analysis—and brand new material on Brexit—The Euro is urgent and timely reading.
So much to read, so little time? This brief overview of The Euro tells you what you need to know—before or after you read Joseph E. Stiglitz’s book. Crafted and edited with care, Worth Books set the standard for quality and give you the tools you need to be a well-informed reader. This short summary and analysis of The Euro by Joseph E. Stiglitz includes: Historical context Chapter-by-chapter summaries Profiles of the main characters Important quotes Fascinating trivia Glossary of terms Supporting material to enhance your understanding of the original work About The Euro by Joseph E. Stiglitz: In The Euro, Columbia Business School professor and Nobel Prize–winning economist author Joseph E. Stiglitz argues that the fundamental cause of the Eurozone’s recent economic difficulties was the creation of a single currency without the institutions to support it. The euro bound 19 countries with very different economies—and very different views about economics—together, but it did not include the institutions or rules to make such a union succeed. The results of this union are clear: although the United States has experienced growth since the financial crisis, Europe is stagnant and Eurozone unemployment remains over 10%. New York Times bestselling author Joseph Stiglitz outlines three possible ways forward: fundamental reforms to the current system, an end to the single currency experiment, or a new system entirely. The Euro is required reading for all citizens of today’s globalized world. The summary and analysis in this ebook are intended to complement your reading experience and bring you closer to a great work of nonfiction.
Release on 2017-08-31 | by Frank Vandenbroucke,Catherine Barnard,Geert De Baere
Author: Frank Vandenbroucke,Catherine Barnard,Geert De Baere
Pubpsher: Cambridge University Press
Many people believe that the EU lacks solidarity and needs a social dimension. This debate is not new but, until recently, the notion of a 'social Europe' remained vague and elusive. What is now required is a coherent conception of the reasons behind and the agenda for a European Social Union. This book offers the first in-depth examination of the rationale and feasibility of such a Social Union. It explores how we can justify, define and demarcate an appropriate notion of European solidarity and examines legal and political barriers. In short, rather than merely deploring the lack of a social dimension to the EU, it provides new perspectives and answers to questions of 'why', 'what', and 'how'. A cast of outstanding scholars and practitioners reflect on the obstacles and solutions, incorporating economic, social, philosophical, legal and political perspectives.
Summary of The Euro by Joseph E. Stiglitz | Includes Analysis Preview: The Euro: How a Common Currency Threatens the Future of Europe is Nobel Prize-winning economist Joseph E. Stiglitz’s evisceration of the euro as the cause of political and economic turmoil in Europe today. From the very start, the decision to create a single currency for Europe was a major mistake founded on faulty ideology and misconceived economic principles. The economic half-truths that guided the construction of the eurozone no longer hold water in 2016 and are outdated. The eurozone is a group of 19 countries with very different political, cultural, and economic systems. By binding them together on minimal convergence criteria and without the structural backbone to keep them unified, the eurozone failed to create an ecosystem of shared risk and reward that would also provide the flexibility necessary for individual countries to manage crises autonomously. What’s more, the austerity measures applied to crisis countries have been unfairly punitive and… PLEASE NOTE: This is key takeaways and analysis of the book and NOT the original book. Inside this Instaread Summary of The Euro by Joseph E. Stiglitz | Includes Analysis · Overview of the Book · Important People · Key Takeaways · Analysis of Key Takeaways About the Author With Instaread, you can get the key takeaways, summary and analysis of a book in 15 minutes. We read every chapter, identify the key takeaways and analyze them for your convenience. Visit our website at instaread.co.
This book delves into the legal theory of the European Union, offering an internationalist theory of European Union law as part of the law of nations, where its central principles are not the principles of a single constitution, but the cosmopolitan principles of accountability, liberty, and fairness.
Rebuilding Social Solidarity in a Fragmented America
Author: Joseph M. Schwartz
Category: Political Science
2011 David Easton Award, presented for the best book by the Foundations of Political Theory section of APSA: "The Future of Democratic Equality, by Joseph Schwartz, takes on three tasks, and accomplishes all brilliantly. Any one of these tasks well fulfilled would have been a laudable achievement. First, Schwartz argues for the centrality of the question of equality to democratic politics. Second, he critically analyzes and explains the shocking rise in inequality in the United States over the last three decades. This he does with conceptual clarity, rich interdisciplinary analysis, and a thorough examination of hard socioeconomic data. Third, he assails the near absence of concern for this soaring inequality among contemporary political theorists, and offers a cogent, and stinging, explanation that takes to task the discipline’s preoccupation with difference and identity severed from the pragmatics of democratic equality. The Future of Democratic Equality is a courageous and disciplined effort to tackle a hugely important political problem and intellectual puzzle. It well embodies the spirit of the Easton Book Award by providing well-grounded normative theory targeted to an urgent matter of contemporary concern. It is a must read for anyone who cares about democracy." - Respectfully submitted by Leslie Paul Thiele, University of Florida (chair) and Cary J. Nederman, Texas A&M University Why has contemporary radical political theory remained virtually silent about the stunning rise in inequality in the United States over the past thirty years? Schwartz contends that since the 1980s, most radical theorists shifted their focus away from interrogating social inequality to criticizing the liberal and radical tradition for being inattentive to the role of difference and identity within social life. This critique brought more awareness of the relative autonomy of gender, racial, and sexual oppression. But, as Schwartz argues, it also led many theorists to forget that if difference is institutionalized on a terrain of radical economic inequality, unjust inequalities in social and political power will inevitably persist. Schwartz cautions against a new radical theoretical orthodoxy: that "universal" norms such as equality and solidarity are inherently repressive and homogenizing, whereas particular norms and identities are truly emancipatory. Reducing inequality among Americans, as well as globally, will take a high level of social solidarity--a level far from today's fragmented politics. In focusing the left's attention on the need to reconstruct a governing model that speaks to the aspirations of the majority, Schwartz provocatively applies this vision to such real world political issues as welfare reform, race relations, childcare, and the democratic regulation of the global economy.