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The Social Challenge Ahead
Edited by Ulf Bernitz, Moa Mårtensson, Lars Oxelheim and Thomas Persson
The Social Challenge Ahead
Ulf Bernitz, Moa Mårtensson, Lars Oxelheim and Thomas Persson
The introductory chapter provides an overview of the great social challenge that the EU currently faces. The editors raise the question of what can be done to bridge the prosperity gap in Europe. First, they briefly describe the background: the social dimension of European cooperation and its historical development. Second, they identify the new social challenges that the Union faces in the wake of the Great Recession, the ongoing refugee crisis, and the Brexit referendum. Third, an analytical point of departure for examining these challenges is presented, consisting of an interdisciplinary approach that pinpoints a number of overarching problems and possibilities associated with the social dimension of European integration. Fourth and finally, the book’s chapters are introduced, and their key policy recommendations are summarized. The chapter concludes with the argument that much of the EU’s future relevance and ability to stay together depends on its capacity to counteract the prosperity gap and reverse the negative trend that emerged during the crisis.
An Institutional Critique
Frank H. Stephen
Chapter 1 sets the scene for the book. It discusses the reasons for the interest in the relationship between the law and economic development beginning with an outline of theories of development. The theory of development currently favoured by multilateral development agencies such as the World Bank is one of market-led development which emphasizes the role of the financial sector. Drawing on an analysis of the reasons why the Law and Development Movement of the 1960s and 1970s failed, criteria by which theories of law and the legal system’s role in development should be evaluated are identified. It is argued that a theory based on New Institutional Economics can satisfy these criteria.
Peter J. Boettke and Todd J. Zywicki
The Austrian contribution to the development of law and economics is the study of endogenous rule formation, or the spontaneous evolution of social institutions, which can be traced to the founder of the Austrian School, Carl Menger. While Menger’s emphasis on spontaneous institutional analysis was born out of the Methodenstreit, a methodological battle engaged against the German Historical School, this chapter argues that the Austrian contribution to law and economics emerged directly from the socialist calculation debate against market socialism. This debate, we will argue, played an essential role in the re-discovery of the institutional framework in economics during the post-WWII era, particularly in the development of law and economics. In the aftermath of the socialist calculation debate, Menger’s earlier emphasis on institutional analysis was reemphasized by F.A. Hayek, who in turn influenced the early pioneers of law and economics, particularly Aaron Director, Ronald Coase, and Bruno Leoni.
Alina Averchenkova, Sam Fankhauser and Michal Nachmany
Chapter 1 offers an overview of the book and summarizes the state and trends in climate change legislation. Making use of a unique global database, Climate Change Laws of the World, the chapter identifies over 1,200 climate change laws and policies of similar stature in the 164 countries the data covers. This stock of laws is the result of over 20 years of policy making and speaks to the growing attention that legislators are devoting to climate change. In 1997, at the time the Kyoto Protocol was signed, there were only about 60 relevant laws and policies. Countries use different routes to address climate change. In some countries the primary avenue is acts of parliament, that is, formal laws passed by the legislative branch. In others, the policy direction is defined through executive orders, decrees and strategies. Climate change laws also differ in scope and ambition. Some laws are specifically focused on climate change, advancing explicitly emissions reduction or adaptation targets. Others introduce climate concerns into sector policies, such as those on energy, or broader development plans. Understanding these different approaches becomes increasingly important as countries implement their pledges under the Paris Agreement.