Structuring the Transnational Space: Can Europe Resist Multinational Capital?

In this contribution I focus on some tensions between ‘globalization’ (as we all know, an imprecise and contested concept) and established mechanisms of employment regulation at national level. To this end I draw on a number of recent explorations in the comparative political economy of capitalism, and apply these to the specific arena of the European Union (EU). I first offer a broad-brush account of the conflict between neoliberal globalization and the established regulatory processes of ‘social Europe’, and discuss in particular the role of multi-national capital in challenging nationally-specific ‘post-war compromises’ between governments, trade unions and employers. Next I link this to the advance of a new ‘Brussels consensus’ driven by the overarching priority of competitiveness and a shift to ‘social Europe lite’. After this I ask whether ‘embedded liberalization’, to borrow from Ruggie (1982), is an option for Europe; and finally, I explore other alternatives for resistance.