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1 - There Is No (Legal) Alternative

Codifying Economic Ideology into Law

Published online by Cambridge University Press:  07 July 2019

Eva Nanopoulos
Affiliation:
Queen Mary University of London
Fotis Vergis
Affiliation:
University of Manchester
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Summary

The purpose of this chapter is to further explore the nature of ‘crisis’, and how the incorporation of an economic ideology as ‘solution’ to that crisis in the form of legally binding obligations restricts the ability to pursue alternative courses of action, creating tensions within society. Focusing upon economic doctrine as reflecting ideological positions, the authors consider the way in which the framing of events as ‘crises’, and thereby establishing them as threats to the current political and economic system, enables political actors to facilitate changes that may not otherwise be politically feasible. In particular, by responding to a crisis through the creation of laws that codify an ideologically guided economic doctrine, a temporary state of crisis creates a permanent legal set of obligations. By doing so, prevailing (if not altogether hegemonic) political actors are able to delegitimise alternatives to that economic doctrine as falling outside of the rule of law: there is no legal alternative but to follow that legal obligation.

Type
Chapter
Information
The Crisis behind the Eurocrisis
The Eurocrisis as a Multidimensional Systemic Crisis of the EU
, pp. 23 - 48
Publisher: Cambridge University Press
Print publication year: 2019

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