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Spring 2024

ISSN 0890-913X

Volume 39, Number 1

Following the ‘Science’ as the Road to Serfdom in the European Union

Barbara Kolm, Austrian Economics Center - Friedrich A. v. Hayek Institute

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BarbaraKolm.“Followingthe‘Science’astheRoadtoSerfdomintheEuropeanUnion”TheJournalofPrivateEnterprise39(1),2024,45-58.Followingthe‘Science’astheRoadtoSerfdomintheEuropeanUnionBarbaraKolmAustrianEconomicsCenterandFriedrichA.v.HayekInstituteAustriaAbstractTheEuropeanUnionwasfoundedontheprinciplesoffreetrade,openness,andpeacebetweenEuropeanstates.EversincetheCOVIDpandemic,thesefoundingprincipleshavebeendisregardedandBrusselshasincreaseditspower,underminingtheruleoflawandabandoninglongestablishedconstitutionalconstraints.Thispapertracesthiseconomical,political,andsocialdevelopment.Inaddition,thepaperrevisitsHayek’svisionofwhatEuropeancooperationmightlooklike—andwhatwecanstilllearnfromit.JELCodes:E52,F15,E62,H77,H87Keywords:fiscalandmonetarypolicy,EUmemberstates,economicintegrationI.IntroductionIstheEuropeanUnion(EU)conducivetoclassicalliberalideas?Hasitadvancedfreedom,orisitanotherexampleofcreepingstatism?AndifwegrantthattheEUwasoriginallyagoodidea,isitstillafreedom-expandingentity?Orhasitbecomeabureaucraticleviathanthatisincreasinglyunaccountabletovotersandnationalgovernments?Thesearequestionsthatclassicalliberalshavebeenaskingforseveraldecades,atleastsincetheMaastrichttreatyof1992,whichturnsthirty-twoyearsoldthisyear.TheunexpectedCOVID-19pandemicandthewarinUkrainehavepromptedquickresponsesfromtheEuropeanUnion.However,thesequickandextensiveresponseshavestrainedthepublichealthsectorandthestatecoffersandcurtailedcivillibertieswithintheEU.ThishascalledintoquestiontheessenceandscopeoftheEUaswellasitscurrentstateanditsfuture.Sincethesecrises,theEUhas,paradoxically,bothincreaseditspowerandseensignificantlimitsimposedonit.This,combinedwith

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Title	Following the ‘Science’ as the Road to Serfdom in the European Union
Authors/Creators:	Barbara Kolm, Austrian Economics Center - Friedrich A. v. Hayek Institute
Year:	2024
Volume:	39
Number:	1
Pages:	45 - 58
Publisher:	The Association of Private Enterprise Education
ISSN:	0890-913X
Document Type:	Articles
Keywords:	fiscal and monetary policy, EU member states, economic integration

Citation:
Kolm, Barbara / 2024. "Following the ‘Science’ as the Road to Serfdom in the European Union." The Journal of Private Enterprise, 39(1): 45-58.