The Political Economy of Europe since 1945: A Kaleckian perspective

Joseph Halevi ()
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Joseph Halevi: International University College of Turin

No 100, Working Papers Series from Institute for New Economic Thinking

Abstract: This paper analyzes the early stages of the formation of the Common Market. The period covered runs from the end of WW2 to 1959, which is the year in which the European Payments Union ceased to operate. The essay begins by highlighting the differences between the prewar political economy of Europe and the new dimensions and institutions brought in by the United States after 1945. It focuses on the marginalization of Britain and on the relaunching of French great power ambitions and how the latter determined, in a very problematical way, the European complexion of France. Because of France '92s imperial aspirations, France, not West Germany, emerged as the politically crisis prone country of Europe acting as a factor of instability thereby jeopardizing the process of European integration, Among the large European nations, Germany and Italy appear, for opposite economic reasons, as the countries most focused on furthering integration. Germany expressed the strongest form of neomercantilism while Italy the weakest.

Keywords: European Monetary System; Common Market; France; Germany; Italy; Netherlands; currency depreciation; European Monetary Union (search for similar items in EconPapers)
JEL-codes: E02 F02 F5 N14 N24 (search for similar items in EconPapers)
Pages: 20 pages
Date: 2019-07
New Economics Papers: this item is included in nep-his, nep-mac and nep-pke
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Persistent link: https://EconPapers.repec.org/RePEc:thk:wpaper:100

DOI: 10.36687/inetwp104

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