• Crisis in the Eurozone: Causes, Dilemmas and Solutions

      Baimbridge, Mark J.; Whyman, P.B. (2015)
      This book discusses how the global financial crisis induced the 'Great Recession' and triggered problems within the eurozone regarding sovereign debt. It explores the background of the eurozone crisis, as well as outlines a number of potential solutions. The authors argue that the failure of the eurozone to meet any convergence criteria, together with unjustified emphasis placed upon unproven rules and institutions derived from contemporary neoliberal macroeconomic thinking, was an accident waiting to happen. Additionally, a series of potential remedies is proposed, ranging from a critical evaluation of solutions that the EU has already instigated (moral persuasion and financial relief measures), together with a series of alternative propositions (fiscal federalism and a 'European Clearing Union'). Moreover, the analysis is extended to the collapse of the eurozone and to options for national economic self-governance. This study, with its comprehensive analysis of the eurozone crisis, is essential reading for students, researchers and scholars of monetary economics, European economics, political science and international relations.
    • Economic implications of alternative trade relationships: post-Brexit options for the UK

      Baimbridge, Mark J.; Whyman, P.B. (2018-01)
      This chapter discuss several key issues for the UK in relation to Brexit. Firstly, how new directions could be initiated to fund infrastructure aimed at boosting the UK's future growth potential and/or promote reindustrialisation by nurturing strategic industries through the early and unknowable stages of their development until they achieve their own international competitive advantage. Secondly, we contest the belief that globalisation has created a new environment eroding the efficiency of traditional policy instruments and with it the relevance of individual nation states. Finally, in this context we conclude by arguing that Brexit offers a unique opportunity to negotiate of a new trade relationship with the EU, together with the rest of the world to both replace previous trade deals concluded by the EU, but also to establish a new set of relationships with a wider set of potential trade partners.
    • Fiscal federalism and European economic integration

      Baimbridge, Mark J.; Whyman, P.B. (2004)
      The pace of economic integration amongst European Union (EU) member states has accelerated considerably during the past decade, highlighted by the process of Economic and Monetary Union (EMU). Many aspects of the EU's apparatus, however, have failed to evolve in order to meets these new challenges. This book explores the issue of fiscal federalism within the context of EU integration from theoretical, historical, policy and global perspectives. It contrasts the pace of integration amongst EU member states with the failure of financial and administrative apparatus to evolve to encompass fiscal federalism, i.e. the development of a centralised budgetary system. This impressive collection, with contributions from a range of internationally respected authors, shall interest students and researchers involved with European economics and economic integration. Its accessible style will also make it extremely useful to policy-makers and professionals for whom European economic integration is a daily topic of conversation.
    • The political economy of the European Social Model

      Whyman, P.B.; Baimbridge, Mark J.; Mullen, A. (2012-07-04)
      This book seeks to analyse the development of the European Union (EU), which was founded upon the principle of the free movement of capital, goods, services and people in 1957. Its central thesis is that, from a practical and theoretical point of view, such a basis is fundamentally at odds with the creation of an interventionist regime that the construction of a social Europe would require.
    • Revisiting the European social model(s) debate: challenges and prospects

      Whyman, P.B.; Baimbridge, Mark J.; Mullen, A. (2014)
      One of the distinctive features of the post-war process of European economic and political integration is the debate about the emergence of a European Social Model (ESM). Advocates and critics have clashed over the precise meaning of the ESM concept, whether it exists in a meaningful and singular form, and whether it challenges or bolsters – by providing some sort of discursive justification – the current neoliberal trajectory of the European Union (EU). While some of the claimed elements of the ESM do exist/have been adopted, this article argues that they do not constitute a coherent alternative to the dominant market liberal model and bias towards negative integration that has underpinned the EU since the 1980s. Furthermore, contemporary developments have served to further entrench these tendencies at the expense of progressive social forces that seek to construct a genuine ESM.
    • Towards a Settlement

      Baimbridge, Mark J.; Whyman, P.B. (2016)
    • Workplace flexibility practices and corporate performance: evidence from the British private sector

      Whyman, P.B.; Baimbridge, Mark J.; Buraimo, B.A.; Petrescu, A.I. (2015-07-14)
      This paper investigates the relationship between workplace flexibility practices (WFPs) and corporate performance using data from the British Workplace Employment Relations Survey 2004. Disaggregating WFPs into numerical, functional and cost aspects enables the analysis of their relationships to an objective measure of corporate performance, namely workplace financial turnover. Furthermore separate analyses are presented for different types of workplace: differentiated by workforce size; ownership; age; wage level; and unionization. Results show that different types of workplaces need to pay attention to the mix of WFPs they adopt. We find that certain cost WFPs (profit-related pay, merit pay and payment-by-results) have strong positive relationships with corporate performance. However, training delivers mixed corporate performance results, while the extent of job autonomy and the proportion of part-time employees in a workplace have an inverse association with corporate performance. Given the limited existing research examining disaggregated measures of WFPs and objectively measured corporate performance, this paper offers useful insights for firms, policy makers and the overall economy.