Varieties of Economic Crisis, Varieties of Ideational Change: How and Why Macroeconomic Policy and Financial Regulation Differ

One of the principal tasks facing post-crash academic political economy is to analyse patterns of ideational change and the conditions that produce such change. What has been missing from the existing literature on ideational change at times of crises however, is a sense of how processes of persuasive struggle, and how the success of those ‘norm entrepreneurs’ arguing for ideational change is shaped by two contextual variables: the most immediate material symptoms and problems that a crisis displays (the variety of crisis); and the institutional character of the policy subsystem that agents have to operate within to affect change. Introducing these two variables into our accounts of persuasive struggle and ideational change enables us to deepen our understanding of the dynamics of ideational change at times of crisis. The article identifies that a quite rapid and radical intellectual change has been evident in the field of financial regulation in the form of an embrace of a macroprudential frame. In contrast in the field of macroeconomic policy - both monetary and fiscal policy, many pre-crash beliefs remain prominent, there is evidence of ideational stickiness and inertia, and despite some policy experimentation, overarching policy frameworks and their rationales have not been overhauled. The article applies Peter Hall’s framework of three orders of policy changes to help illuminate and explain the variation in patterns of change in the fields of financial regulation and macroeconomic policy since the financial crash of 2008. The different patterns of ideational change in macroeconomic policy and financial regulation in the post-crash period can be explained by timing and variety of crisis; sequencing of policy change; and institutional political differences between micro policy sub systems and macro policy systems.

Green Political Economy: beyond orthodox undifferentiated economic growth as a permanent feature of the economy

This chapter outlines the main features of green political economy and the principal ways in which it differs from dominant mainstream or orthodox neoclassical economics. Neoclassical economics is critiqued on the grounds of denying its normative and ideological commitments in its false presentation of itself as ‘objective’ and ‘value neutral’. It is also critiqued for its ecologically irrational commitment to the imperative of orthodox economic growth as a permanent feature of the economy, compromising its ability to offer realistic or normatively compelling guides to how we might make the transition to a sustainable economy. Green political economy is presented as an alternative or heterodox form of economic thinking but one which explicitly expresses its normative/ideological value bases (hence it represents a return to ‘political economy’, the origins of modern economics). Green political economy also challenges the commitment to undifferentiated economic growth as a permanent objective of the human economy. In its place, green political economy promotes ‘economic security’ as a better objective for a sustainable, post-growth economy. The latter includes the transition to a low-carbon energy economy, and is also one which maximises quality of life (as oppose to formal employment, income and wealth), and actively seeks to lower socio-economic inequality. Green political economy views orthodox economic growth as having passed the threshold in most ‘advanced’ capitalist societies beyond which it has undermined quality of life and at best manages rather than reduces socially and ecologically damaging inequalities.

The Millennium child with autism: Early childhood trajectories for health, education and economic wellbeing

Objective: Most of what we know about children with autism spectrum disorder (ASD) is based on post-diagnostic, retrospective, self-select studies. Oftentimes, there is no direct comparison between trajectories of children with ASD and children without ASD.

Methods: To circumvent both of these problems, the present secondary data analysis utilised a large-scale longitudinal general population survey of children born in the year 2000 (i.e. the Millennium Cohort Study; MCS; n=18522). Bi-annual MCS data were available from five data sweeps (children aged 9 months to 11 years of age).

Results: Pre-diagnostic data showed early health problems differentiated children later diagnosed with autism from non-diagnosed peers. Prevalence was much higher than previously estimated (3.5% for 11-year olds). Post-diagnosis, trajectories deteriorated significantly for the children with ASD and their families in relation to education, health and economic wellbeing.

Conclusion: These findings raise many issues for service delivery and the rights of persons with disabilities and their families.

The Social and Economic Mobility of Ethnic Minority Communities in Northern Ireland

This report provides evidence of the degree, nature and drivers of poverty across the different ethnic minority groups in Northern Ireland. The 2011 Census highlighted some very different outcomes for ethnic minority groups in Northern Ireland across various indicators related to poverty. Through focus groups and interviews with employees and employers, this study further reveals how far the labour market is segmented among different ethnic minority communities. It also reviews government legislation and strategies relevant to Northern Ireland and the impact of these on poverty among ethnic minority groups. The report: • highlights employees’ difficulties in accessing relevant employment; • investigates employers’ procedures for recruitment, staff retention and development; • outlines government initiatives and programmes to support employees; and • reviews the level of uptake and success of government support for ethnic minority groups seeking employment or setting up a business.

The EU economic and social model in the global crisis: Interdisciplinary perspectives:Interdisciplinary perspectives

This book addresses the viability of the EU economic and social model within and after the global economic crisis. It identifies four key issues which warrant further discussion: (1) the asymmetry of the legal and policy framework of the euro and potential recalibration; (2) substantive tensions between the EU 'economic constitution' and its normative aim of social justice and impacts on national policy; (3) the role of civil society, including the two sides of industry in overcoming these tensions and (4) the EU's global aspirations towards the creation of a viable socio-economic model. Its chapters offer two perspectives on each of the four main issues. In drawing these debates together, the book provides a broad understanding as well as starting points for future research. Bringing together different disciplinary approaches, ranging from legal studies to political economy, sociology and macroeconomics, it is a valuable contribution to the debate on the European social model and introduces new insights by focusing on legal and political tensions, the impact of the financial crisis and other economic contexts as well as global dimensions. 

Economic and social integration the challenge for EU constitutional law

'At a time of crisis and therefore a crucial juncture in European politics, Dagmar Schiek offers us an inspiring vision of the potential of the European Union. In her brilliant study, she exposes the obstacles that economic integration has posed for achievement of social justice, and provides a bold solution. Rejecting more limited models of constitutionalism, she presents a convincing alternative which is socially embedded, allowing space for action by manifold actors at multiple levels of governance.' - Tonia Novitz, University of Bristol, UK. © Dagmar Schiek 2012. All rights reserved.

Re-embedding economic and social constitutionalism: Normative Perspectives for the E

This chapter proposes a social re-embedding of European constitutionalism by offering a coherent interpretation of EU constitutional principles as contained in the initial articles of the Treaties and the EU’s economic and social constitution as developed by the Court of Justice. It starts from the assumption that European integration is not merely an inter-state endeavour, but also a process that affects social and economic actors, in other words societies all over Europe. It may well ultimately engender a European society – if we are prepared to conceive of a poly-centric society, consisting of diverse components from a wide range of regions, social actors and cultures. Proceeding from the assumption that constitutionalism can be a relevant notion for such a holistic approach to European integration, the chapter develops elements of European constitutionalism relating to socio-economic reality. As national constitutional law, European constitutional law is presented as necessarily incomplete. European constitutionalism will thus have to offer modes of adapting open norms to an ever changing and developing societal reality. The chapter outlines a framework for such constitutionalism which, at the same time, offers opportunities for reconciling the social and economic dimensions in the European integration project through a re-configured notion of constitutionalism.

The EU Constitution of Social Governance in an Economic Crisis: in Defence of a Transnational Dimension to Social Europe

Conventional wisdom has it that the EU is unable to promote viable social integration, which contrasts with its commitments to improving working and living conditions and to social values and goals such as solidarity, social protection and social inclusion. This
article challenges two diff erent standpoints: on the one hand, competitive neoliberalism demands that the EU focuses on economic integration through legally binding internal market and competition rules even if Member States can only maintain a limited commitment to social inclusion, while authors defending the social models unique to the continent of Europe demand that the EU rescinds some of its established legal principles in order to make breathing space for Member States to maintain market correcting social policies. Both positions convene that there should be no genuine social policy at EU level.
This article uses scenarios of widely discussed rulings by the Court of Justice to illustrate that legally enforceable economic integration would prevent most Member States from achieving sustainable health services, labour relations and free university education on the basis of national closure. Since the EU has limited legislative competences to create EU level institutions to balance inequalities, it derives a Constitution of Social Governance from the EU’s values, proposing that the Court of Justice develops its urisprudence into an instrument for challenging European disunion induced by new EU economic governance