Der Aufsatz beginnt mit einer wohlfahrtstheoretischen Vorüberlegung. Der Systemwettbewerb schwächt die territorial begrenzte Macht des Staates gegenüber mobilem Kapital, mobilen Unternehmen und mobilen Konsumenten. Selbst wenn dadurch die Verbraucherinteressen uneingeschränkt begünstigt...

This paper attempts a normative assessment of the input and output-oriented legitimacy of the present euro-rescuing regime on the basis of policy analyses examining the causes of present crises, the available policy options, and the impact of the policies actually chosen. Concluding that the...

On the basis of a brief reconstruction of the causes and impacts of the euro crisis, this paper explores, counterfactually and hypothetically, whether the new euro regime, insisting on fiscal austerity and supply-side reforms, could have prevented the rise of the crisis or is able to deal with...

This essay re-examines the dual – republican and liberal – foundations of democratic legitimacy in the Western traditions of normative political theory. Considered in isolation, the European Union conforms to liberal standards but cannot satisfy republican criteria. Given these conflicting...

The complexity of the multi-level European polity is not adequately represented by the single-level theoretical concepts of competing “intergovernmentalist” and “supranationalist” approaches. By contrast, empirical research focusing on multilevel interactions tends either to emphasize...

The European Monetary Union (EMU) has removed crucial instruments of macroeconomic management from the control of democratically accountable governments. Worse still, the EMU has systemically caused destabilizing macroeconomic imbalances that member states found difficult or impossible to...

At the end of the postwar period, the politically shaped configurations of normatively integrated European political economies differed greatly among "social-market" and "liberal market economies." Such differences persist even though the characteristic achievements of social market economies...