The Erosion of Sovereignty

Loughlin, Martin

doi:10.5553/njlp/.000048

Cited by 17 publications

(9 citation statements)

References 6 publications

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“…75 In Draghi's conception, sovereignty is thus defined through the question of 'the actual ability to control things' or the concept of potentia. 76 He dismisses the reverse definition, i.e., from the perspective of 'rightful or legitimate authority' or potestas, 77 because '[t]he ability to make independent decisions does not guarantee countries such control. In other words, independence does not guarantee sovereignty.'…”

Section: Governing Europe: Sovereignty As Potentiamentioning

confidence: 99%

The European Economic Constitution in Crisis: A Conservative Transformation

Lokdam

Wilkinson

2021

SSRN Journal

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The original constitution of Economic and Monetary Union (EMU) rested on a neoliberal approach to interstate federalism à la Hayek. This approach appealed to political elites at the time of the Maastricht Treaty, promising to overcome the so-called 'crisis of governability' of the 1970s and early 1980s by constraining the capacity of Member States to respond to democratic demands, without at the same time constructing a comprehensive governmental apparatus at the European level. The original EMU thus sought to delink democratic legitimation from governmental capacity and to constrain what capacity was left. The Eurozone Crisis, however, introduced a 'crisis of ungovernability,' revealing that the original constitutional framework had failed in several respects. In efforts to salvage it, European and domestic political elites and institutions sought to correct the capacity deficit but only while imposing, in an authoritarian fashion, neoliberal policies and reforms. While early signs in response to the Covid-19 crisis suggest that the 'new EMU' permits a departure from neoliberal prescriptions, the other deficit of EMU is as glaring as ever: democracy remains a problem to be overcome rather than a potential to be realised.

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Section: Governing Europe: Sovereignty As Potentiamentioning

confidence: 99%

The European Economic Constitution in Crisis: A Conservative Transformation

Lokdam

Wilkinson

2021

SSRN Journal

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“…Processes of international and global integration, even if infrequently contested under normal political circumstances, can spring into full view at certain critical moments, as in the case of the recent financial crisis. With international financial markets as well as states and supranational institutions committed to preserving market integration and the economic status quo, the fundamental politico-legal sovereignty of an individual state may be increasingly eroded (Loughlin, 2016). Democracy and even legality may appear to be sacrificed on the altar of market imperatives by an authoritarian liberalism entrenched in a governmental apparatus and backed by the interests of capital, personified in the Euro-crisis by the so-called 'Troika' (ECB, European Commission and IMF) (see Streeck, 2014Streeck, , 2015bWilkinson, 2015).…”

Section: Law and Political Economy: International And Global Dimensionsmentioning

confidence: 99%

Law and Political Economy

Wilkinson¹,

Lokdam²

2021

Encyclopedia of the Philosophy of Law and Social Philosophy

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Law and Political Economy' surveys recent approaches to the study of phenomena at the intersection of law, politics and the economy. These take an interdisciplinary perspective, viewing markets as fields of social power that are not spontaneous but created and reproduced in the meeting of legal norms, political action and economic activity. Through regulating economic relationships, the politico-legal order constitutes and reconstitutes the power relations that make up society. This, in turn, is driven by the formation of class, sectoral and geopolitical interests, as well as ideological convictions, which harness political and legal authority. We present these inter-related processes through exploring contemporary debates on inequality, inter-personal market relations, the relation between the state and market, and the effects of economic integration and globalisation on democracy and political selfdetermination.

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“…With international financial markets as well as states and supranational institutions committed to preserving market integration and the economic status quo, the fundamental politico-legal sovereignty of an individual state may be increasingly eroded (Loughlin, 2016). Democracy and even legality may appear to be sacrificed on the altar of market imperatives by an authoritarian liberalism entrenched in a governmental apparatus and backed by the interests of capital, personified in the Euro-crisis by the so-called 'Troika' (ECB, European Commission and IMF) (see Streeck, 2014Streeck, , 2015bWilkinson, 2015).…”

Section: Law and Political Economy: International And Global Dimenmentioning

confidence: 99%

Law and Political Economy

Wilkinson

Lokdam

2018

SSRN Journal

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'Law and Political Economy' surveys recent approaches to the study of phenomena at the intersection of law, politics and the economy. These take an interdisciplinary perspective, viewing markets as fields of social power that are not spontaneous but created and reproduced in the meeting of legal norms, political action and economic activity. Through regulating economic relationships, the politico-legal order constitutes and reconstitutes the power relations that make up society. This, in turn, is driven by the formation of class, sectoral and geopolitical interests, as well as ideological convictions, which harness political and legal authority. We present these inter-related processes through exploring contemporary debates on inequality, inter-personal market relations, the relation between the state and market, and the effects of economic integration and globalisation on democracy and political selfdetermination.

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The Erosion of Sovereignty

Cited by 17 publications

References 6 publications

The European Economic Constitution in Crisis: A Conservative Transformation

The European Economic Constitution in Crisis: A Conservative Transformation

Law and Political Economy

Law and Political Economy

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The Erosion of Sovereignty

Cited by 17 publications

References 6 publications

The European Economic Constitution in Crisis: A Conservative Transformation

The European Economic Constitution in Crisis: A Conservative Transformation

Law and Political Economy

Law and Political Economy

Contact Info

Product

Resources

About

The European Economic Constitution in Crisis: A Conservative Transformation

The European Economic Constitution in Crisis: A Conservative Transformation