A Social Dimension for Transatlantic Economic Relations
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Compa, Lance A.; Meyer, Henning
Transatlantic Economic Relations (TER) was neglected by politi¬cians for much of the twentieth century as international security issues took priority. Since the end of the Cold War, however, and as economic issues have come to prominence TER has assumed increasing importance and yet is largely overlooked in academic discussion. This report places TER in its historical context and demonstrates how the political agenda and institutional setup are both largely dysfunctional. Viewed through the prism of industrial relations and drawing on some real life examples from both sides of the Atlantic, it argues that the social dimension is a challenge central to the future development of the relationship and proposes institutional innovations which could also be replicated in other areas: for instance in support of environmental concerns. Presenting some guiding principles for transatlantic trade, this paper recommends the creation of a new secretariat to act as a permanent contact point and providing a variety of practical functions essential to making TER work.
The Global Policy Institute was created in August 2006 as a Research Institute of London Metropolitan University. It brings together academics from the social sciences and business disciplines to analyse the dynamics of globalization and formulate policy solutions. The Institute’s research and consultancy will be of direct practical use to decisionmakers, policy formation, business users and civil society groups, and it will offer partnerships within and beyond the academic community.
Transatlantic Economic Relations; TER; industrial relations; trade
Required Publisher Statement: Reprinted with permission of the Global Policy Institute.