I have no serious quarrel with Fritz Machlup’s various definitions and descriptions of the general concept of ‘economic integration’. In fact, his distinctions are both thoughtful and clarifying. As I do not really feel qualified to elaborate upon these concepts, I can probably make more of a contribution by discussing various problems connected with one specific type of economic integration, namely integration across national borders, which I will call internationalisation. This type of integration is, of course, particularly interesting from the point of view of economic policy, as the targets, instruments and design of economic policy are still largely attached to national states.
KeywordsTrade Liberalisation Economic Integration Financial Capital Capital Movement Positive Economic
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