Playing the Market: A Political Strategy for Uniting Europe, 1985-2005

Playing the Market: A Political Strategy for Uniting Europe, 1985-2005

by Nicolas Jabko
Playing the Market: A Political Strategy for Uniting Europe, 1985-2005

Playing the Market: A Political Strategy for Uniting Europe, 1985-2005

by Nicolas Jabko

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Overview

In the 1980s and 1990s, Nicolas Jabko suggests, the character of European integration altered radically, from slow growth to what he terms a "quiet revolution." In Playing the Market, he traces the political strategy that underlay the move from the Single Market of 1986 through the official creation of the European Union in 1992 to the coming of the euro in 1999. The official, shared language of the political forces behind this revolution was that of market reforms—yet, as Jabko notes, this was a very strange "market" revolution, one that saw the building of massive new public institutions designed to regulate economic activity, such as the Economic and Monetary Union, and deeper liberalization in economic areas unaffected by external pressure than in truly internationalized sectors of the European economy.

What held together this remarkably diverse reform movement? Precisely because "the market" wasn't a single standard, the agenda of market reforms gained the support of a vast and heterogenous coalition. The "market" was in fact a broad palette of ideas to which different actors could appeal under different circumstances. It variously stood for a constraint on government regulations, a norm by which economic activities were (or should be) governed, a space for the active pursuit of economic growth, an excuse to discipline government policies, and a beacon for new public powers and rule-making. In chapters on financial reform, the provision of collective services, regional development and social policy, and economic and monetary union, Jabko traces how a coalition of strange bedfellows mobilized a variety of market ideas to integrate Europe.


Product Details

ISBN-13: 9780801464966
Publisher: Cornell University Press
Publication date: 02/15/2012
Series: Cornell Studies in Political Economy
Sold by: Barnes & Noble
Format: eBook
Pages: 224
File size: 968 KB
Age Range: 18 Years

About the Author

Nicolas Jabko is a Senior Research Fellow at Sciences Po, Paris.

What People are Saying About This

James A. Caporaso

In Playing the Market, Nicolas Jabko provides an unconventional and thought-provoking interpretation of the 'quiet revolution' that linked in one process the Single European Act (SEA) and the Treaty on European Union (TEU). This is an important book for students of comparative politics and European integration. It must be read by all who want to understand the reorientation of the process of European integration from 1986 into the new millennium.

Kathleen R. McNamara

Nicolas Jabko brilliantly and convincingly puts the power and politics back into constructivism, while explaining some of the central puzzles and contradictions of European integration. This terrific book is a riveting primer on how political actors may construct and utilize norms and ideas to further their interests.

Mark Blyth

In Playing the Market Nicolas Jabko shows how the European Commission sold the notion of 'the market' as meaning different things to different audiences. To economic interests the market was sold as a constraint and as an emerging norm of regulation; to national governments the market was sold as both a space for development and as a way of strengthening economic autonomy in an era of globalization. By framing the European project in this way, Jabko shows how the Commission was able to promote institutional change in a variety of areas and on a scale far greater than one would predict given their relative power. Bridging rationalism and constructivism, Playing the Market is an excellent piece of scholarship.

Frank Dobbin

In this fresh look at the surprisingly rapid integration of Europe since the 1980s, Nicolas Jabko shows that it was not market forces or conventional power politics that drove integration. EU officials successfully used the growing power of the idea of the market to push for integration. The argument that relatively weak officials used the power of an idea strategically to trump the material power of opponents is bold and ultimately convincing. Playing the Market will be widely influential for having rewritten the received wisdom on European integration, documented how very malleable the concept of the market is in the hands of strategic actors, and brought us a rich new theory of the strategic use of ideas in politics.

Daniel Kelemen

Playing the Market is a fascinating and important book. In a nuanced yet forceful account, Nicolas Jabko demonstrates that the European Commission deployed a strategy that invoked multiple dimensions of the logic of 'the market' to promote its political objectives of deeper European integration and to accelerate the process beyond anyone's expectations. This is the best book I've seen about the development of the single market and its repercussions for the integration process.

Amy Verdun

Playing the Market offers a provocative and simple analysis of the European integration process. Nicolas Jabko systematically builds a strong argument based on four solid case studies.

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