This paper reconsiders the theoretical foundations of EU regional policy in economics. It begins with a discussion of … contrasted with a non-equilibrium economics perspective on EU regional policy. Based on this, the existence of market failures … and the relevance of equilibrium economics for a realistic understanding of and policy advice for EU regional policy are …

Comparing the economic development and current situation of the internal markets of the U.S. and the EU, two things are … noticeable. On the one hand, the EU is conducting massive regional policy programmes (notably the Structural Funds) to foster …-average GDP per capita while in the EU approximately 31\% of the total population lives in such regions eligible for structural …