This paper attempts a normative assessment of the input and output-oriented legitimacy of the present euro-rescuing regime on the basis of policy analyses examining the causes of present crises, the available policy options, and the impact of the policies actually chosen. Concluding that the...

The Graz Scumpeter lectures are given on an annual basis by leading scholars that transcend a single disciplinary discourse. This new book based on the lectures given by Alan Milward is an eagerly awaited volume in this series