For over half a century, European Union has been a promising endeavor of cooperative institutionalism. It has shown that even nation states with a long history of conflict are capable of collaborating with one another to serve their own interests. However, the EU project has also made visible that there is no one-size-fits-all policy in economics that can be applied to all countries with success. Economics starts and ends with the society. Common culture determines the outcomes of economic policies, and ordinary people pick up the bill when policies turn out to be failures. This book presents...