Journal
REVIEW OF RADICAL POLITICAL ECONOMICS
Volume 53, Issue 3, Pages 478-500Publisher
SAGE PUBLICATIONS INC
DOI: 10.1177/0486613421997235
Keywords
European Social Model; crisis and the aftermath; globalization; EU governance of social issues; political economy
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Funding
- University of the Basque Country [GIU19/078]
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This paper examines the challenges facing the European Social Model, highlighting the threat posed by austerity policies and the hypothesis that without decisive action by EU institutions, the model faces gradual erosion or dilution in a globalized economy.
This paper examines the apparently adverse environment for the viability of the European Social Model (ESoM) and identifies the main factors relevant to the consolidation of the model. It first looks back at the way in which social issues have been dealt with by European Union (EU) institutions, then seeks to identify the main internal and external challenges facing the ESoM. The crisis and the exit strategy initially adopted in the EU (based on austerity policies) compounded these challenges and threatened the model. An interpretation of this crossroads and the foreseeable scenarios for the model are presented under alternative hypotheses with and without specific EU intervention. This paper adopts the globalization theory of the welfare state. Accordingly, its main hypothesis is that unless decisive action is taken by EU institutions the ESoM faces progressive erosion or dilution in a globalized economy. JEL Classification: I38, H53, F60, F15, F68
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