This ambitious volume provides a trenchant and timely analysis of the creation of a single market in both the EU and the US. Comparing the experience of the US during the nineteenth century and the single market of the EU in the twentieth century, the book demonstrates how the political economy of single market formation has followed remarkably similar trajectories. Both cases show evidence of interplay between different levels of government in determining distributive outcomes; evolution of a legal framework for the market; and development of new regulatory strategies to deal with changing economic realities. The book illustrates the process of market consolidation through a detailed comparison of the so-called four freedoms: the removal of border controls; and the largely unrestricted transfer of goods, services, and capital across different jurisdictions. In both cases, establishing one market, one currency, and a more unified banking and financial system transformed largely autonomous or sovereign constituent units into a more unified economic entity.
Single Markets also sheds light on critically important questions for both comparativists and international relations scholars regarding the nature of territorial governance and the construction of state interests. The book's interdisciplinary approach to focusing on crucial political and economic developments on both sides of the Atlantic will be of interest to scholars in political science, public policy, law, and history.
This ambitious volume provides a trenchant and timely analysis of the creation of a single market in both the EU and the US. Comparing the experience of the US during the nineteenth century and the single market of the EU in the twentieth century, the book demonstrates how the political economy of single market formation has followed remarkably similar trajectories. Both cases show evidence of interplay between different levels of government in determining distributive outcomes; evolution of a legal framework for the market; and development of new regulatory strategies to deal with changing economic realities. The book illustrates the process of market consolidation through a detailed comparison of the so-called four freedoms: the removal of border controls; and the largely unrestricted transfer of goods, services, and capital across different jurisdictions. In both cases, establishing one market, one currency, and a more unified banking and financial system transformed largely autonomous or sovereign constituent units into a more unified economic entity.
Single Markets also sheds light on critically important questions for both comparativists and international relations scholars regarding the nature of territorial governance and the construction of state interests. The book's interdisciplinary approach to focusing on crucial political and economic developments on both sides of the Atlantic will be of interest to scholars in political science, public policy, law, and history.
1: States, Democracies, and Single Markets
2: Foundational Politics
3: Market Dynamics and Integration: The Intersection of Law,
Politics and Markets
4: Interstate Commerce and Free Movement of Goods
5: Capital Flows and Financial Markets
6: Free Movement of Services: Transportation and Economic
Services
7: Labor Mobility and the Free Movement of Professionals
8: Conclusion
Michelle Egan is an Associate Professor and Jean Monnet Chair Ad
Personam in the School of International Service, and an Affiliate
Faculty Member in the History Department at American University.
She is currently Chair of the European Union Studies Association
(EUSA). She has been the recipient of a number of awards including
German Marshall Fund, Jean Monnet, Bosch and Howard Foundation
Fellowships. She is a member of the EU Center of Excellence DC
Consortium)
(ACES). She has published Constructing a European Market:
Standards, Regulation and Governance with Oxford University Press
as well as other edited volumes, articles and book chapters.
This sophisticated book compares the most ambitious and successful
single market created in the late nineteenth century, the United
States, with its late-twentieth-century counterpart, the EU ... an
insightful work, particularly for those who follow transatlantic
regulatory matters
*Andrew Moravcsik, Foreign Affairs*
This is one of the most sophisticated books on market-building in
America and Europe, and theirimplications for institutional change.
Michelle Egan combines masterfully comparative analysis with the
political development approach. The book calls successfully into
question the parochialism of both the American studies based on the
idea of US exceptionalism and the European studies based on the
idea of sui generis EU. It is a refreshing reading that I strongly
recommend to those who never though that there is something to
learn from the other shore of the Atlantics experience.
*Sergio Fabbrini, Luiss Guido Carli, Rome*
Single Markets is a remarkable achievement. Its diachronic
comparison of the evolution of market integration in the United
States beginning in the nineteenth century and in Europe beginning
in the mid twentieth is impressive both in its breadth of coverage
and depth of analysis. The main conclusion, that states play a
critical role in driving change, even though constrained by private
interests and contentious politics, is lucidly illustrated in four
illuminating case studies, including interstate commerce, banking
and finance, transportation services, and labor mobility with
regard to the professions. The book is a must-read for anyone
interested in American political development and/or European
integration, as well as in political economy and development more
generally.
*Vivien A. Schmidt, Jean Monnet Professor of European Integration,
Pardee School of Global Studies, Boston University*
The strength of the book derives from its in-depth case studies on
topics such as intraregional trade, capital flows and labour
mobility. Meticulously researched and incredibly well-referenced,
these studies make a convincing case for the similarities of the EU
and the US experience. I especially enjoyed the chapters on
inter-state commerce and capital flows, which delve into existing
research to illustrate the gradual dismantling of barriers to
integration in the two economic powers.
*Christopher A. Hartwell, Kozminski University*
Given the eurozone's continuing Greek crisis and the growing issue
of euro ins and outs, this book offers a timely examination of the
process of integration. The strength of the book derives from its
in-depth case studies on topics such as intraregional trade,
capital flows and labour mobility. Meticulously researched and
incredibly well-referenced, these studies make a convincing case
for the similarities of the EU and the US experience.
*Christopher A. Hartwell, Kominski University*
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