I had better begin by making clear the intentions and limitations of this lecture. The subject which has been assigned to me is The Meaning of Economic Integration, and I intend to discuss this in terms of the widest possible generality. I shall try to explain to you how I define economic integration and what measures I regard as necessary to bring it about. The discussion, therefore, is a discussion of a general conception: it is not a discussion of a particular project. In framing my observations, I shall naturally endeavour to keep an eye on their possible practical applications. The background of my thought is constituted by the possibilities of integration on this, the so-called Western part of the planet, at this point in the twentieth century, rather than integration on Mars or Saturn, at some indeterminate period. But the actual treatment will be theoretical. I shall try to stand back from the contemporary picture and to discern general principles rather than particular instances.
KeywordsFree Trade Money Supply Economic Integration Custom Union Sovereign State
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