Matthias Matthijs, Assistant Professor of International Political Economy at SAIS in Washington, DC
Dis-Embedded Markets and Embedded Politics. The Erosion of National Democracy in the Euro Periphery
The advent of the euro crisis brought back a gap between North and South in Europe not just in standards of living and economic performance, but also in the strength of national democracies. This paper investigates the tension between ‘dis-embedded’ markets governed by an EU technocracy and nationally ‘embedded’ democratic politics. Starting from a Polanyian perspective, and building on Dani Rodrik’s globalization ‘trilemma,’ the paper studies the strength of national democratic governments in Greece, Spain, Portugal, Italy and Ireland from an input, throughput, and output lens since 2010, and concludes that the Eurozone’s crisis policies are incompatible with national democratic choice.
Matthias research focuses on the politics of economic crises, the role of economic ideas in economic policymaking, the politics of inequality, and the erosion of democratic legitimacy in advanced industrial states.
See an interview with Matthias on Margaret Thatcher and economic crisis.
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