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Single Markets: Economic Integration in Europe and the United States, by Michelle Egan
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This ambitious volume provides a trenchant and timely analysis of the creation of a single market in both the EU and the US. Comparing the experience of the US during the nineteenth century and the single market of the EU in the twentieth century, Single Markets demonstrates how the political economy of single market formation has followed remarkably similar trajectories. Both cases show evidence of interplay between different levels of government in determining distributive outcomes; evolution of a legal framework for the market; and development of new regulatory strategies to deal with changing economic realities. The book illustrates the process of market consolidation through a detailed comparison of the so-called four freedoms: the removal of border controls; and the largely unrestricted transfer of goods, services, and capital across different jurisdictions. In both cases, establishing one market, one currency, and a more unified banking and financial system transformed largely autonomous or sovereign constituent units into a more unified economic entity.
Single Markets also sheds light on critically important questions for both comparativists and international relations scholars regarding the nature of territorial governance and the construction of state interests. The book's interdisciplinary approach to focusing on crucial political and economic developments on both sides of the Atlantic will be of interest to scholars in political science, public policy, law, and history.
- Sales Rank: #2603789 in Books
- Published on: 2015-03-22
- Original language: English
- Number of items: 1
- Dimensions: 6.40" h x 1.00" w x 9.30" l, .70 pounds
- Binding: Hardcover
- 240 pages
Review
"Single Markets is a remarkable achievement. Its diachronic comparison of the evolution of market integration in the United States beginning in the nineteenth century and in Europe beginning in the mid twentieth is impressive both in its breadth of coverage and depth of analysis. The main conclusion, that states play a critical role in driving change, even though constrained by private interests and contentious politics, is lucidly illustrated in four illuminating case studies, including interstate commerce, banking and finance, transportation services, and labor mobility with regard to the professions. The book is a must-read for anyone interested in American political development and/or European integration, as well as in political economy and development more generally." -- Vivien A. Schmidt, Jean Monnet Professor of European Integration, Pardee School of Global Studies, Boston University
"This is one of the most sophisticated books on market-building in America and Europe, and theirimplications for institutional change. Michelle Egan combines masterfully comparative analysis with the political development approach. The book calls successfully into question the parochialism of both the American studies based on the idea of 'US exceptionalism' and the European studies based on the idea of 'sui generis EU'. It is a refreshing reading that I strongly recommend to those who never though that there is something to learn from the other shore of the Atlantic's experience." -- Sergio Fabbrini, Luiss Guido Carli, Rome
"This sophisticated book compares the most ambitious and successful single market created in the late nineteenth century, the United States, with its late-twentieth-century counterpart, the EU. ...an insightful work, particularly for those who follow transatlantic regulatory matters." -- Foreign Affairs
About the Author
Michelle Egan is Associate Professor in the School of International Service at American University.
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