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Chapter 2 The European Union – An Economic Overview: A Paradigm of Unity in Diversity

In: The United States of Europe: European Union and the Euro Revolution, Revised Edition

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  • Manoranjan Dutta

Abstract

To begin, we must understand Jean Monnet's vision of the Europeanization of Europe. As early as the 1940s, when Europe still struggled to recover and rebuild from the devastation of WWII, he forcefully argued: “The countries of Europe are not strong enoughindividuallyto be able to guarantee prosperity and social development for their peoples.” Indeed, in terms of economic magnitudes, the individual sovereign nation states of Europe were marginal entities (see Chapter 1). “The States of Europe must therefore form a federation or a European entity that would make them into a common economic unit” (Monnet, 1978; see also http://www.historiasiglo20.org/europe/monnet.htm).

Suggested Citation

  • Manoranjan Dutta, 2011. "Chapter 2 The European Union – An Economic Overview: A Paradigm of Unity in Diversity," Contributions to Economic Analysis, in: The United States of Europe: European Union and the Euro Revolution, Revised Edition, pages 13-28, Emerald Group Publishing Limited.
    • Handle: RePEc:eme:ceazzz:s0573-8555(2011)0000292009
    DOI: 10.1108/S0573-8555(2011)0000292009
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