In this chapter, I explore the imaginaries of prosperity underlying the European Union’s (EU) approach to industrial law and policy. Long considered a taboo in European politics, the EU began to rediscover industrial policy after the 2008 great financial crisis, gradually increasing its ambitions when it came to shaping the relations between the state and the market. Having reviewed an array of EU measures, starting with the 2010 industrial policy and including the more recent burst of legislative proposals (Chips Act, Batteries Act, Critical Minerals Act, and Net Zero Industry Act), this chapter aims to do two things. First, it identifies shifts in the background understanding of political economy, including the role and appropriate objectives of markets, politics, law, and government, that lie behind successive policy interventions. Second, this chapter sketches the contours of the new synthesis of prosperity that emerges from these recent proposals and measures, while at the same time, and in no ambiguous terms, drawing attention to its considerable limitations.

The chapter examines the relationship between the size and diversity of the expellee population and entrepreneurship and occupational change in West Germany. Using statistical data at the municipal and county levels, it documents a reversal of fortune: although expellee presence presented economic challenges in the immediate postwar period, in the long run, it increased entrepreneurship rates, education, and household incomes. The more regionally diverse the expellee population, the better the long-run economic performance in receiving communities.

This chapter presents a novel electoral strategy by which landowners have successfully influenced policymaking in democratic Brazil: a multiparty congressional caucus known as the Bancada Ruralista. It shows how agrarian elites finance the campaigns, encourage other producers to support, and subsidize the work of like-minded legislators independently of their partisan affiliation, as well as how legislators of agrarian origin collaborate across partisan lines. The chapter argues that Brazil’s Agrarian Caucus is the product of agrarian elites’ collective efforts to build a channel of electoral representation to protect their interests under democracy in a context of high political fragmentation. The threat of radical land reform during the democratic transition prompted landowners to engage in electoral politics. However, high political fragmentation among the agrarian elite rendered party-building unfeasible. The chapter discusses the advantages of an electoral, candidate-centered, multipartisan strategy over other strategies available to economic elites in democracies such as lobbying or party-building, and illustrates these advantages through the analysis of the Forest Code reform of 2012.

This chapter aims to analyse Karnataka's political economy in the postliberalisation phase. It explores the changes in policies, particularly on the agricultural sector, and the way these have affected class formation and consolidation. It examines the relationship between proprietary classes and the state to understand how the state allocates resources, such as land, water, and credit, and infers how the political settlement operates within the state. These questions have been addressed through a thorough literature review and fieldwork conducted in the state between February and July 2012. Although Karnataka has four agricultural universities that publish vast literature, these were of little pertinence to the study. This was primarily due to the technical nature, micro-view, and quantitative approach of these publications. Nonetheless, the information has been included whenever appropriate. Karnataka is a diverse state, and patterns vary between the northern and southern districts; therefore, evidence from fieldwork is juxtaposed with existing literature to present a comprehensive and nuanced picture. The north is less irrigated, has less capitalist agriculture, and has fewer commercial crops in comparison to the south.

In line with the other field-based chapters, this chapter opens with a brief description of the state, and a discussion on the economy, particularly sector growth rates, main sources of investment, and alignment of lobbies. It presents the trajectory of certain agrarian proprietary classes and links it to dominant castes, as the literature is mostly written along the parameter of caste. To make sense of proprietary classes after 1991, the scene prior, during the 1970s and 1980s, has been briefly discussed. This is followed by a brief discussion on three key features of Karnataka – corruption, farmer suicide, and decentralisation. These are relevant for explaining the field findings. Subsequently, political settlement and agrarian class formation and consolidation are reflected upon. Accumulation through diversification by fractions of rich farmers are highlighted along with that of the political leaders and state officials who have transformed into petty bourgeoisie. Field findings suggested that regional variations within the state exist, as demonstrated. Comparative assessment of these findings with Chhattisgarh and Gujarat is attempted. Finally, it is inferred that the nature of the regional state is clientelist, playing a major role side by side the market.

Europe is living its Weimar moment. The historic task of the European Union (EU) today, the book argues, is to articulate and institute a new imaginary of prosperity. Imaginaries of prosperity integrate societies around the shared pursuit of a prosperous future, while rendering “political-economic” questions the main preoccupation of politics. The new imaginary of prosperity today has to be both credible (able to provide answers to contemporary challenges) and appealing (conjuring a world in which people want to live). It has to include not only an alternative macroeconomic framework (a different role for tax, public spending, or welfare provision) but also a different set of microeconomic institutions (a new role for the corporation, technology, industry, finance, and consumption). It is exactly in this latter space that the EU has undertaken the first important steps towards reimagining prosperity. The book analyses several policy fields, showing that the EU has already made significant efforts to foster more caring consumption, circular products and technologies, sustainable industry, and fairer corporate activity. But the EU has to go further and faster – if it intends to respond effectively to the soaring problems, while halting another Europe’s slide into tribalism.

This chapter explores the relationship between natives and migrants in the territory transferred from Germany to Poland in 1945 using contemporaries’ memoirs. It shows that migration status and region of origin served as salient identity markers, structuring interpersonal relations and shaping collective action in the newly formed communities. Statistical analysis is used to demonstrate that indigenous villages and villages populated by a more homogeneous migrant population were more successful in organizing volunteer fire brigades than villages populated by migrants from different regions.

Chapter 6 discusses the attempts of the European institutions, especially the European Commission and the European Parliament, to change the way in which corporations are structured and operate. This chapter tracks the European Commission’s initial ambitions to transform corporations by simultaneously improving their administrative capacity (due diligence) and reforming certain corporate fundamentals (civil liability and the remuneration of directors). After pushback by its own internal body, the Regulatory Scrutiny Board, the Commission retreated from its more transformative plans, narrowing its focus mostly to due diligence. At the time of writing, however, even the resulting less ambitious proposal was facing intense (and to an extent even unexpected) resistance. Despite the drawbacks, there may be other avenues for the EU to transform corporations. In the last section, I discuss the possibilities for engaging more directly with the fundamentals of corporate activity – by legally facilitating those organisations consciously founded on different principles (ownership and governance), such as social enterprises, which are more distributive and inclusive by design.

Chapter 3 surveys enterprise reforms in China since the late 1970s to highlight evolving constraints and space for leadership in SOEs. It examines five periods: emergence and decline of “dual track” economic reform (1978–91), establishment of a socialist market economy (1992–94), retrenchment of state ownership in the “commanding heights” (1995–2001), internationalization and consolidation of the state sector (2002–12), and combination of limited economic liberalization with increased political control (2013 to present). Since the late 1970s, SOE leaders have transitioned from managing production to determining how to restructure their firms, managing state-owned capital, and expanding in both domestic and international markets. Although the overall trend has been toward expanded space for leadership, the current Xi Jinping administration has tightened political and commercial control.

This chapter first describes the dependent variable – agrarian elites’ strategies of political influence – and its three categories (nonelectoral, party-building, and candidate-centered) in terms of their reliability and costs. Then, it introduces a new theory to explain the variation in agrarian elites’ strategies of political influence under democracy. It highlights the role of two independent variables – perception of an existential threat and intragroup fragmentation – to explain when and how agrarian elites will organize in the electoral arena. It argues that agrarian elites will enter the electoral arena only when they perceive an existential threat. In turn, landowners’ level of intragroup fragmentation conditions the way they organize their electoral representation. Where landed elites are cohesive, they will engage in party-building. In contrast, highly fragmented elites will prefer a nonpartisan, candidate-centered strategy of representation, supporting individual like-minded politicians across partisan lines. Lastly, the chapter assesses three main alternative explanations, previous history of electoral organization, electoral rules, and the relevance of congress as a policymaking arena.

This chapter presents a case of nonelectoral strategies of political influence by agrarian elites in Argentina and the limitations of such strategies. Until 2008, Argentine landowners influenced politics through lobbying and, when this failed, through protests. The chapter presents evidence of how Argentine agrarian elites did not invest in electoral representation prior to 2008 because they did not experience an existential threat. It also shows how landowners decided to enter the electoral arena with the rise of an existential threat in the form of confiscatory taxes in 2008. Given Argentine agrarian elites fragmentation, they deployed a candidate-centered strategy, sponsoring the candidacies of a dozen agricultural producers for Congress under diverse party affiliations. However, institutional features and ideological differences among producers’ associations blunted the effectiveness of the strategy and led to its abandonment. Later on, with the consolidation of Propuesta Republicana (PRO) as a viable electoral alternative and the continuity of hostile polices, part of the Argentine agrarian elite has engaged in party-building. However, economic cleavages within Argentine agricultural producers continue to undermine the kind of sector-wide party-building effort that we saw in Chile during the democratic transition.

This chapter examines the generalizability of the book’s main argument. It synthesizes the conclusions of other studies on the consequences of three similar episodes of forced migration in the twentieth century: the Greek-Turkish population exchange, the Partition of India, and the repatriation of Pied-Noirs to France. It then considers ways in which the argument can be extended to other cases of forced and voluntary migration.