European politicians often speak of their efforts to 'manage globalization.' At one level, this is merely a rhetorical device to make globalization more palatable to citizens and prove that policy-makers are still firmly in control of their country’s fate. This volume argues that the advocacy of managed globalization goes beyond rhetoric and actually has been a primary driver of major European Union (EU) policies in the past twenty years. The EU has indeed tried to manage globalization through the use of five major mechanisms: 1) expanding policy scope 2) exercising regulatory influence 3) empowering international institutions 4) enlarging the territorial sphere of EU influence, and 5) redistributing the costs of globalization. These mechanisms are neither entirely novel, nor are they always effective but they provide the contours of an approach to globalization that is neither ad hoc deregulation, nor old-style economic protectionism.
The recent financial crisis may have seemed initially to vindicate the European efforts to manage globalization, but it also represented the limits of such efforts without the full participation of the US and China. The EU cannot rig the game of globalization, but it can try to provide predictability, oversight, and regularity with rules that accommodate European interests.
This book was based on a special issue of Journal of European Public Policy.
1. Europe and the management of globalization Wade Jacoby (Brigham Young University) and Sophie Meunier (Princeton University)
2. The hidden face of the euro Nicolas Jabko (Sciences Po Paris)
3. Globalizing European Union environmental policy Dan Kelemen (Rutgers University)
4. Managed globalization: doctrine, practice and promise Rawi Abdelal (Harvard Business School) and Sophie Meunier (Princeton University)
5. The EU, the US, and trade policy: competitive interdependence in the management of globalization Alberta Sbragia (University of Pittsburgh)
6. Europe and the new global economic order: internal diversity as liability and asset in managing globalization Orfeo Fioretos (Temple University)
7. The EU and financial regulation: power without purpose? Elliot Posner (Vanderbilt University) and Nicolas Véron (BRUEGEL)
8. Managing globalization by managing Central and Eastern Europe: the EU’s backyard as threat and opportunity Wade Jacoby (Brigham Young University)
9. Betwixt and between? The European Union’s redistributive management of globalization Brian Burgoon (University of Amsterdam)
This series seeks to bring together some of the finest edited works on European Public Policy. Reprinting from Special Issues of the Journal of European Public Policy, the focus is on using a wide range of social sciences approaches, both qualitative and quantitative, to gain a comprehensive and definitive understanding of Public Policy in Europe.