Introduction: Open Markets versus Welfare Citizenship: Conflicting Approaches to Policy Convergence in Europe

Few would have predicted the rapid progress of the EU in developing common economic institutions 20 or 30 years ago, although many commentators might have foreseen the relatively slow development of convergent social policies. This paper sets the European debate in the context of the path‐breaking work of Polanyi and Schumpeter at the end of the Second World War. It argues that the economic institutions of the EU are at least as important as the social policy institutions in understanding current developments, and suggests that a commitment to a broadly liberal market agenda at the economic level constrains and moulds social policies.