ISSUE: 1/2025
- Volume 29
- Number 1
- 2025
Subscribe NEWSLETTER
Studia Europejskie –
Studies in European Affairs
ISSN: 1428-149X
e-ISSN: 2719-3780
License
Articles published in the journal are under a Creative Commons Attribution – Non Commercial – No Derivatives 4.0 International License
Publication co-financed by Ministry of Science and Higher Education pursuant to the Regulation of the Minister of Education and Science of 3 August 2021 (Journal of Laws of 2021, item 1514) on the “Development of Scientific Journals” programme.
Publikacja dofinansowana przez Ministerstwo Nauki i Szkolnictwa Wyższego na podstawie rozporządzenia Ministra Edukacji i Nauki z 3 sierpnia 2021 r. (Dz. U. z 2021 r. poz. 1514) w sprawie programu „Rozwój czasopism naukowych”.
Publication co-financed by the University of Warsaw within the “Excellence Initiative – Research University” programme.
Czasopismo otrzymało dofinasowanie w ramach Programu „Inicjatywa Doskonałości – Uczelnia Badawcza”.
Marginalisation and Peripheralisation of the EU? Multidimensional Crises and War in Ukraine as Catalysts for Changing Models of Contemporary Capitalism
Abstract
This article examines the impact of the war in Ukraine on the evolution of contemporary models of capitalism, with a particular focus on the European Union through the lens of Comparative Political Economy. The analysis builds upon Andreas Nölke’s framework for classifying dominant varieties of capitalism, originally applied to institutional changes following the COVID-19 pandemic, extending its relevance to the context of Russia’s aggression against Ukraine in 2022. The study identifies key catalysts and structural factors driving transformations in capitalism, emphasising their crisis-inducing effects within the EU, which are further analysed within the framework of global megatrends, interpreted through Dani Rodrik’s concept of the “trilemma”. The analysis highlights a critical concern; without the establishment of a new development paradigm and the creation of a new model for European capitalism, the EU risks becoming the greatest loser in the ongoing global rivalry. However, the divergent interests and limited development trajectories of many Member States pose significant challenges to achieving such a transformation.
References
Allison, G. (2017) Destined for War: Can America and China Escape Thucydides’s Trap? Houghton Mifflin Harcourt.
Amable, B. (2003) The Diversity of Modern Capitalism. Oxford: Oxford University Press. DOI: 10.1093/019926113X.001.0001.
Applebaum, A. (2024) Autocracy, Inc.: The Dictators Who Want to Run the World. Doubleday: Penguin Books.
Baszczak, Ł., Leszczyński, P., Wincewicz, A. and Zyzik, R. (2022) Powrót interwencjonizmu? Państwo i gospodarka w warunkach zagrożenia i kryzysów. Warszawa: Polski Instytut Ekonomiczny.
Beck, U. (2005) Power in the Global Age. A new global political economy. Cambridge: Polity Press.
Bielecki, J. (2024) „Wywiad z Enrico Letta. Nikt nie boi się dominacji Rzymu, dlatego to Włosi ratują UE”, Rzeczpospolita, 11.10.
Bohle, D. and Greskovits, B. (2012) Capitalist Diversity on Europe’s Periphery. Ithaca–London: Cornell University Press.
Borges de Castro, R. (ed.) (2022) Europe in the World in 2022: The Transatlantic Comeback?, European Policy Centre, Brussels. 21.01. Available at: https://www.epc.eu/content/PDF/2022/Outlook_Paper_2022.pdf (Access 10.11.2024).
Castells, M. (2012) Networks of Outrage and Hope Social Movements in the Internet Age. Cambridge: Polity Press Ltd.
Coeure, B. (2024) Europe in fragmenting global economy: leveraging the Single Market and competition policy. Fondation Robert Schuman.
Cohesion in Europe (2022) Brussels: European Commission.
Crouch, C. (2011) The Strange Non-Death of Neo-liberalism. Cambridge: Polity Press.
Diamont, L. (2024) Democracy Without America? Foreign Affairs. 8.11.
Draghi, M. (2024) The future of EU competitiveness. Brussel: September.
Etienne, P. (2024) The European Union, between the United States and China: Do we have to choose between being equidistance or simply being a follower? Robert Schuman Foundation. 8.10.
Esping-Andersen, G. (1990) The Three Worlds of Welfare Capitalism. Cambridge: Polity Press. DOI: 10.1177/095892879100100108.
European Commission (2022) Cohesion in Europe towards 2050. Brussels.
European Innovation Scoreboard (EIS) (2024) Brussels: European Commission.
Feaver, P.D. (2024) “How Trump Will Change the World”, Foreign Affairs. 6.11.
Gates, R.M. (2023) “The Dysfunctional Superpower”, Foreign Affairs. Vol. 102(6), pp. 30–44.
Fischer, J. (2023) Will Europe Be the World’s Biggest Loser? Available at: https://www.project-syndicate.org/commentary/europe-biggest-loser-in-multipolar-world-by-joschka-fischer-2023-05?utm_source=Project+Syndicate+Newsletter&utm_campaign=1a21d206bf-covid_newsletter_05_24_2023&utm_medium=email&utm_term=0_73bad5b7d8-1a21d206bf-107042565&mc_cid=1a21d206bf&mc_eid=6a45e78b8e (Access 17.12.2024).
Gates, W.H. and Collins, C. (2003) Wealth and Our Commonwealth. Why America Should Tax Accumulated Fortunes. Boston: Beacon Press.
Hall, P.A. and Soskice, D. (2001) Varieties of Capitalism. The Institutional Foundation of Comparative Advantage. Oxford: Oxford University Press. DOI: 10.1093/0199247757.001.0001.
International Monetary Fund (2023) Geoeconomic Fragmentation and the Future of Multilateralism. Washington D.C.
Jackson, R. and Sørensen, G. (2006) Wprowadzenie do stosunków międzynarodowych. Kraków: Wydawnictwo Uniwersytetu Jagiellońskiego.
Klein, M.C. and Pettis, M. (2020) Trade Wars Are Class Wars: How Rising Inequality Distorts the Global Economy and Threatens International Peace. New Haven: Yale University Press. DOI: 10.12987/9780300252750.
Kozioł, A. (2024) Rosja gospodarzem szczytu BRICS. Warszawa: Polski Instytut Spraw Międzynarodowych.
Laqueur, W. (2007) The Last Days of Europe. Epitaph for an Old Continent. New York: Thomas Dunne Books/St. Martin’s Press.
Leonard, M. (2022) The Age of Unpeace. How Connectivity Causes Conflict. London: Penguin.
Mazzucato, M. and Collington, R. (2023) The Big Con. How the Consulting Industry Weakens our Businesses, Infantilizes our Governments and Warps our Economies. Dublin: ALLEN LANE.
Mazzucato, M. (2013) The Entrepreneurial State: Debunking Public vs. Private Sector Myth. London: Anthem Press.
Meardi, G. (2018) “Economic Integration and State Responses: Change in European Industrial Relations since Maastricht”, British Journal of Industrial Relations. Vol. 56(3), pp. 631–655. DOI: 10.1111/bjir.12307.
Meyers, Z. (2024) Competition policy must reflect Europe’s reality, not its aspirations. London–Brussels–Berlin: Centre for European Reform.
Nattrass, N. (2014) “A South African variety of capitalism?”, New Political Economy. Vol. 19(1), pp. 56–78. DOI: 10.1080/13563467.2013.768610.
Nettle, D., Johnson, E. and Saxe, R. (2021) Why Has the COVID-19 Pandemic Increased Support for Universal Basic Income?, Humanities and Social Science Communications. Vol. 8(79), pp. 1–12. DOI: 10.1057/s41599-021-00760-7.
Nölke, A. (2022) Post-Corona Capitalism: The Alternatives Ahead. Bristol: Bristol University Press. DOI: 10.1332/policypress/9781529219425.001.0001.
Nölke, A., ten Brink, T., May, Ch. and Claar, S. (eds.) (2020) State-permeated capitalism in large emerging economies. London: Routledge. DOI: 10.4324/9780429261145.
Nölke, A. and Vliegenthart, A. (2009) “Enlarging the Varieties of Capitalism: The Emergence of Dependent Market Economies in East Central Europe”, World Politics. No. 4, pp. 670–702. DOI: 10.1017/S0043887109990098.
Posen, A.S. (2024) “The True Dangers of Trump’s Economic Plans”, Foreign Affairs. 18.10. Available at: https://www.foreignaffairs.com/united-states/truedangers-trumps-economic-plans (Access 9.12.2024).
Pilszyk, M., Lipiński, K. and Miniszewski, K. (2023) Wyzwania Fit for 55. Cele transformacji energetycznej okiem ekspertów europejskich. Warszawa: Polski Instytut Ekonomiczny.
Posen, A.S. (2024) “The True Dangers of Trump’s Economic Plans”, Foreign Affairs. 18.10.
Prechel, H. (2000) Big Business and the State. Historical Transitions and Corporate Transformation, 1880–1990s. New York: State University Press.
Reynolds, M. (2024) “Everything Is Subservient to the Big Guy’: Fiona Hill on Trump and America’s Emerging Oligarchy”, Politico. 28.10. Available at: https://www.politico.com/news/magazine/2024/10/28/fiona-hill-explains-trump-musk-putin-00185820 (Access: 14.11.2024).
Rodrik, D. (2011) The Globalization Paradox: Why Global Markets, States, and Democracy Can’t Coexist. Oxford: Oxford University Press.
Rodrik, D. (1997) Has Globalization Gone Too Far? Washington: Institute of International Economics. DOI: 10.2307/41165897.
Rothkopf, D. (2008) Superclass. The Global Power Elite and the Word They Are Making. New York: Farrar, Straus and Giroux.
Sadurski, W. (2022) Pandemic of Populists. Cambridge: Cambridge University Press. DOI: 10.1017/9781009224543.
Schedelik, M., Nölke, A., Martens, D. and May, Ch. (2020) “Comparative Capitalism, Growth Models and Emerging Markets: The Development of the Field”, New Political Economy. Vol. 26(4), pp. 514–526. DOI: 10.1080/13563467.2020.1807487.
Schmidt, V.A. and Thatcher, M. (eds.) (2013) Resilient Liberalism in Europe’s Political Economy. Cambridge: Cambridge University Press. DOI: 10.1017/CBO9781139857086.
Stasiński, M. (2016) „Timothy Snajder: Sami nie rozumiecie, co tracicie”, Gazeta Wyborcza. 14.05. Available at: https://wyborcza.pl/magazyn/7,124059,20071536,timothy-snyder-sami-nie-rozumiecie-co-tracicie-czlowiek-roku.html (Access 14.12.2024).
Szczepanik, M. and Szymańska, J. (2024) Wzrost, dekarbonizacja, bezpieczeństwo – recepta na wzmocnienie kondycji gospodarczej UE. Warszawa: Polski Instytut Spraw Międzynarodowych.
Streeck, W. (2017) How Will Capitalism End? London–New York: Verso.
Tordoir, S., Berg, A., Cornago, E., Meyers, Z. and Springford, J. (2024) Europe and the superpowers. Responding to economic nationalism. London–Brussels–Berlin: Centre for European Reform.
The Digital Economy and Society Index (DESI) (2024) Brussel: European Commission.
The Economist (2023a) “From strength to strength”, The Economist. 15.04.
The Economist (2023b) “Reindustrialising America”, The Economist. 4.02.
The Economist (2023c) “Europe’s new powerhouse”, The Economist. 7.01.
The Economist (2024) “The downsides of outperformance”, The Economist. 19.10.
The Economist (2024a) “Angela who? Merkel’s legacy looks increasingly terrible”. The Economist 26.10. Available at: https://www.economist.com/europe/2024/10/24/angela-who-merkels-legacy-looks-increasingly-terrible (Access 14.12.2024).
The Economist (2024b) The French president’s interview with The Economist. Available at: https://www.economist.com/europe/2024/05/02/emmanuel-macron-in-his-own-words-english (Access 17.12.2024).
The European Innovation Scoreboard (2024) Brussels: European Commission.
The Economist Intelligence Unit (2024) Democracy Index 2023. Age of Conflict. Available at: https://www.eiu.com/n/campaigns/democracy-index-2023/ (Access 14.12.2024).
The Economist Intelligence Unit (2022) Democracy Index 2022. Frontline Democracy and the Battle for Ukraine. Available at: https://www.eiu.com/n/campaigns/democracy-index-2022/ (Access 14.12.2024).
Tordoir, S., Berg, A., Cornago, E. and Meyersand, Z. (2024) Europe and the Superpowers. Responding to economic nationalism. London–Brussels–Berlin: Centre for European Reform.
Wallerstein, I., Collins, R., Mann, M. and Calhoun, C. (2013) Does Capitalism Have a Future? Oxford: Oxford University Press.
Webber, D. (2019) European Disintegration? The Politics of Crisis in the European Union. London: Macmillan International.
Witt, M.A. and Redding, G. (eds.) (2014) The Oxford Handbook of Asian Business Systems. Oxford: Oxford University Press. DOI: 10.1093/oxfordhb/9780199654925.001.0001.
Wójcik, Ł. and Zalewski, T. (2024) „Raptor powraca”, Polityka. 13.11–19.11.
Zakaria, F. (2024) “The Self-Doubting Superpower”, Foreign Affairs. Vol. 103(1).
Zakaria, F. (1997) The Rise of Illiberal Democracy. Foreign Affairs. DOI: 10.2307/20048274.
Zielonka, J. (2018) Counter-Revolution. Liberal Europe in Retreat. Oxford: Oxford University Press.
Żakowski, J. (2022) „Wywiad Jacka Żakowskiego z Thomasem Piketty’m. O czym jest ta wojna”, Polityka. 6.04–12.04.2022.
Language: English
Pages: 311-342
How to Cite:
Harvard
Jasiecki, K. (2025) "Marginalisation and Peripheralisation of the EU? Multidimensional Crises and War in Ukraine as Catalysts for Changing Models of Contemporary Capitalism". Studia Europejskie – Studies in European Affairs, 1/2025, pp. 311-342. DOI: 10.33067/SE.1.2025.16