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The Cultures of MarketsThe Political Economy of Climate Governance$
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Janelle Knox-Hayes

Print publication date: 2016

Print ISBN-13: 9780198718451

Published to Oxford Scholarship Online: August 2016

DOI: 10.1093/acprof:oso/9780198718451.001.0001

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Europe and the United States

Europe and the United States

Market Coordination through Contrasting Discourses of Security, Leadership, and Economic Opportunity

(p.71) 4 Europe and the United States
The Cultures of Markets

Janelle Knox-Hayes

Oxford University Press

Chapter 4 examines early adaptations of the markets in Europe and the United States. In the case of the United States, analysis focuses on the federal level and on California as a large state that has taken substantial action on climate change. Both the US and the EU are large multi-jurisdictional polities that have leveraged markets to try to build common frameworks for governance. They are also advanced economies that allow markets to operate relatively unfettered from government intervention. Nevertheless, markets are built through different sources of authority and leverage different social values. In the United States logics of security are used to try to centralize authority, while structural differences in the EU lead to an emphasis on discourses of leadership and economic opportunity.

Keywords:   coordination, technocratic governance, climate policy, emissions markets, EU, US, security, economic opportunity, leadership, cultural logics

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