In 1957 the signing of the Treaty of Rome by six European nations1 was probably the most important single economic event in the period spanned by this book. It marked a new stage in international co-operation. It redistributed economic power and influence, giving to the group a total industrial output matching that of the United States and exceeding that of the Soviet Union, and a foreign trade with other countries greater than any other power. It gave potential for growth to an area already registering at that time, in its constituent countries, the fastest economic growth in the world. It held remote but exciting promise of a single European super-power which would replace the national mercantilism of four centuries.
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- 2.See R. G. Lipsey, ‘The Theory of Customs Unions: A General Survey’, Economic Journal (Sep 1960) pp. 498–513.Google Scholar
- 8.A huge literature already exists on this subject. Readers seeking a point of entry to this literature might consult: F. B.Jensen and I. Walter, The Common Market: Economic Integration in Europe (Philadelphia: Lippincott, 1965);Google Scholar
- L. B. Krause (ed.), The Common Market: Progress and Controversy (Englewood Cliffs, N.J.: Prentice-Hall, 1964);Google Scholar
- Treaty Establishing the European Atomic Energy Community [Euratom] and the Common Market (Brussels: Interior Committee for the Common Market and Euratom, 1957);Google Scholar
- and Political and Economic Planning (PEP), European Organisations (London: Allen & Unwin, 1959).Google Scholar
- A good general and up-to-date book is Dennis Swann’s The Economics of the Common Market (London: Penguin Books, 4th ed., 1978).Google Scholar