The Eurozone crisis and the European corporate elite: bringing corporate actors into focus

This paper uses a framework referred to as the ‘corporate reconstruction of European capitalism theory of integration’ to analyse the European Union’s response to the Eurozone crisis. Most political economy analyses of the Eurozone crisis have focused on political leaders, clashes between creditor and debtor member states and public opinions in analysing the handling of the crisis. This paper focuses instead on the input of corporate actors. It is argued that both the setting up of the European Monetary Union (EMU) and the handling of its crisis were congenial to corporate preferences. Europe’s nascent corporate elite was concerned with eliminating currency risk when the EMU was set up and therefore did not push for fiscal federalism. When the flawed architecture of the Eurozone transformed that currency risk into sovereign credit risk, corporate preferences adapted and now favoured fiscal liability pooling and ultimately the setting up of a fiscal union.     

整体观视野下社会主要矛盾的化解与财税法治的回应

中国传统的整体思想中蕴含的求同存异、相克相生、追求和谐之美的整体哲学与西方注重清晰差异、非此即彼,寻求原子之真的整体观念迥然不同。它对于解释和解决新时代中国的各种问题仍然有着现实意义和践行价值。在中国,财政概念的内涵已经扩大,财政的功能已经拓展,财政已经升级为国家治理的基础和重要支柱,财税法治建设也将与国家治理的现代化进程紧密相联。越来多的学者不再囿于将财税法视为宏观调控法的组成部分,开始以更广袤的视野重新检视财税法。因此,在新时代,以整体观来解释和化解社会主要矛盾,财税法必然有担当。在整体观视野下完善财税法律制度,应从全面落实税收法定原则和全面布局财税制度改革着手。此外,面对全球减税浪潮,财税法治改革也需要高度关注全球财税动态并适时调整和回应。     

British labour movement solidarity in the 1913-14 Dublin Lockout

While most accounts of the Dublin Lockout of 1913–1914 consider it primarily as an event in Irish history, it was also one of the most important struggles in twentieth-century British history. It was influenced by, and was an integral part of the great ‘labour unrest’ that swept over Britain in the years 1911–1914 and had tremendous repercussions in Britain as well as Ireland. This article provides much neglected analysis of the nature, extent and dynamics of the solidarity campaign that was generated on the British mainland for the Lockout (probably the only other comparable event was the national miners’ strike of 1984–1985), the reasons why such widespread support was forthcoming and its broader implications for understanding the strengths and weaknesses of militant trade unionism in Britain during this period. It provides a comprehensive re-examination of the historical record and offers a critical analysis of existing predominant historiographical interpretations of the dispute. In the process, the article provides new insights into the potential and limits of Jim Larkin’s campaign to secure sympathetic industrial action inside the British labour movement, the refusal of the Trades Union Congress to support such an initiative and the inability of rank-and-file and socialist militants to overcome the entrenched resistance of the official union leadership.     

Measuring horizontal fiscal imbalance: the case of Italian municipalities

In the literature on fiscal federalism, vertical fiscal imbalance has been widely studied, while the theme of horizontal fiscal imbalance and inequality among local governments, due to differences in their fiscal capacities, has been less explored. This article contributes to fill the gap. A new method to compute fiscal capacities based on regression analysis is proposed, which can overcome some of the drawbacks of traditional methods such as the representative tax system. This new approach is then employed to evaluate the fiscal capacities of Italian municipalities over the period 2002–2010. Finally two global measures of the horizontal fiscal imbalance are used to evaluate the equity implication of a major policy change occurred in 2008 in Italian municipal finance.     

Why can't Europe save itself? A note on a structural failure

Europe's Economic and Monetary Union (EMU) has been struck by one financial crisis after another. Yes despite many bold new initiatives, instability and uncertainty persist. Why can't Europe save itself? The answer, this chapter argues, lies in a structural failure. EMU lacks a credible mechanism to cope with the threat of imbalances within the group – a framework to manage the European region's internal payments problems. The challenge was foreseen from the beginning. How could a regional monetary union manage the risk of fiscal imbalances among its members? Europe might have turned to the USA for inspiration. For analytical purposes, the USA too can be considered as a regional monetary union comparable to EMU, facing the same fundamental challenge. America's solution was to create a permanent ‘transfer union’, featuring more or less automatic flows of funds through the federal budget at the centre. But European policy-makers chose otherwise, for reasons that go to the very heart of their ongoing integration project. EMU is a league of sovereign states, each determined to retain for itself as many rights and privileges as possible. In such a structure, a permanent transfer union never had a chance; and since no adequate substitute has yet been found, Europe is forced to pay a high price in terms of instability and lost growth.     

How can we better align private security with the public interest? Towards a civilizing model of regulation

How can we better align private security with the public interest? This question has met with two answers in the literature on private security regulation, one seeking to cleanse the market of deviant sellers, the other to communalize the market through the empowerment of buyers. Both models of regulation are premised upon a limited neoclassical economic conception of how market transactions map onto the public interest. This article makes the case for a new model of regulation, one that seeks to civilize the market. Drawing upon the insights of economic sociology, our model regards the market for security as a moral economy in which commodity and non‐commodity values jostle and collide. On this basis, we propose a regulatory architecture where buyers and sellers are cast not only as economic actors but also as moral actors, revealing new avenues through which to encompass private security within the democratic promise of security.     

Why the intrinsic value of public goods matters

Abstract

Existing accounts of public-goods distribution rely on the existence of solidarity for providing non-universal public goods, such as the humanities or national parks. There are three fundamental problems with these accounts: they ignore instances of social fragmentation; they treat preferences for public goods as morally benign, and they assume that these preferences are the only relevant moral consideration. However, not all citizens unanimously require public goods such as the humanities or national parks. Public-goods distribution that is based only on citizens’ preferences, therefore, means that non-universal public good are at a constant risk of under-provision, and has negative implications for human flourishing. The paper, therefore, develops a complementary justification for the distribution of public goods, that decouples the distribution of public goods from ad hoc preferences, and grounds the distributive justification in the intrinsic value of these goods. There are three reasons to include intrinsic-value considerations in public-goods distribution: responding to crowding-out effects; promoting shared heritage and cross-fertilization. Finally, the intrinsic-value justification may indirectly promote solidarity. Thus, the intrinsic-value and the solidarity justifications need not be mutually exclusive, rather they can be mutually reinforcing.     

Local revenue structure under economic hardship: reliance on alternative revenue sources in California counties

This article investigates how a worsening economy affects local revenue structure, and whether the impact is moderated by the fiscal relationship within higher levels of government. The revenue potential of nontax sources – fees/charges and fines/forfeitures – is considerable for local governments under economic hardship. With the panel data from California counties over a period of 11 years (2000–2010), this article shows that reliance on nontax revenue largely depends on the economic and fiscal factors that vary across counties, and the effect of economy is contingent on local dependence on intergovernmental transfers. Counties are likely to raise nontax revenue when the economy worsens and their transfer-dependence increases, while the marginal effect of the economic indicators changes from negative to positive as transfer dependence increases. This article illuminates the characteristics of the two types of nontax sources in terms of the mechanisms of incentivising human behaviour and concludes with policy implications for researchers and practitioners.     

Lack of European Identity and the Failure of the Eurozone

Since late 2007, the Eurozone has been embroiled in a crisis that has seen GDP per capita stagnate, public debt soar, and unemployment reach record levels. This article argues that the Eurozone crisis will inevitably force fundamental changes in the structure of the EU. The only way to make the Eurozone work is through deeper fiscal integration of Eurozone economies. Yet wholesale fiscal integration cannot be achieved in the near term, due to the fact that EU citizens continue to identify more with their own nationalities than with Europe as a whole. The Eurozone economies of southern Europe will, therefore, continue to flounder, leading to further anti‐EU sentiment. Anti‐EU sentiment may eventually increase up to the point where one or all of these countries leave the Eurozone or the EU altogether. These propositions are supported with arguments from economic theory, and are bolstered by evidence from surveys and opinion polls.     

Sharing the struggle: constructing transnational solidarity in global social movements

ABSTRACT

Struggles for peace, self-determination and demilitarization are common near military installations around the world. Increasingly, these struggles have become linked in globe-spanning assemblages of activism. Based on interviews in South Korea, Okinawa, Puerto Rico, Hawai’i, and Guåhan (Guam) this paper analyzes how activists in these locales develop a sense of shared oppression that serves as a basis for connecting geographically distant activist communities. Through visiting each other’s places – and participating in activities such as direct action protests, eating together and dancing – activists develop a recognition of shared circumstance not only through intellectual discussion, but also through the production of shared visceral and emotional states. This shared feeling of mutual oppression then serves as a basis for solidarity and mutual aid among social movements that protest militarization and challenge traditional conceptualizations of security in international relations.