Neoliberalism in the European Union's economic traditions.

Abstract

In the last decade the term neoliberalism has become part of everyday language. With the spread of the crisis, this phenomenon has been increasingly discussed both academically and in the media. Often used in a negative way, it is commonly associated with policies that aim to cut off the welfare state or at the deregulation of the international financial system. The United States is normally identified as the place of origin and the ideal cradle of neoliberalism. Thanks to think thanks and universities, neoliberalism also seems to have more and more spread over, until it got a foothold even in Europe. According to the harshest criticism, the Old Continent and the United States are part of a common front for the promotion of neoliberalism in the world. In this sense, is it really possible to compare Europe and the United States? The aim of this work is on the one hand to understand whether this comparison is tenable or not. In other words, how accusations towards Europe of being a "neoliberal" promoter are legitimate. The other goal is to identify how and why Europe could offer a plausible alternative to the American model. There are tangible historical and ideological evidences in support of this thesis. For a fully comprehension in this regard, the first chapter will present a brief survey into the origin of what is commonly understood as neoliberalism. The economists recognized as the founding fathers will be taken into account, as well as the traditions they belong to. The second chapter consists of an analysis on the European Union, either from political and economic perspectives. This approach will therefore pave the way for a clear comparison with the Anglo-American liberalism. The third chapter will focus on the work of a scholar, namely Mario Monti, who has tried to give a contribute to the European alternative. Both from his biography and writings emerges a tendency in favor of topics such as the social market economy that are at the basis of the uniqueness of the European Union.