Europe at bay; in the shadow of US hegemony

by Cafruny, Alan W. and J. Mangnus Ryner

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Book description: Lynne Rienner Publishers, Inc., 2007. Hardbound. New Book. Hardbound. Cafruny (international affairs, Hamilton College, US) and Ryner (international relations, Oxford Brookes U., UK) analyze Europe's neoliberal economic integration project from its beginnings in the 1980s to the present time, arguing that it has led to slow growth and mass unemployment, has weakened tradition forms of political and social solidarity at the national and regional levels, and has subordinated the European Union to an increasingly violent and unsteady US imperium. Their analysis rests on a structural account of money and finance in transatlantic and European regional power relations and identifies a shift from the integral hegemony of the Bretton Woods system, in which the US made material concessions to its European allies, to the minimal hegemony of the present, in which deregulation of financial markets has allowed the United States to reproduce it hegemony despite relative industrial decline while simultaneously undermining European models of social and Christian democracy. (©2007 Book News, Inc., Portland, OR)

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