Problems of economic union

This book is based upon three lectures on problems con Tnected with the formation of economic unions between sovereign states in the conditions of the modern world. They were delivered in the summer of 1952 at the Univer sity of Chicago under the auspices of the Charles R. Walgreen Foundation for the Study of American Institu tions.

The three chapters consider the possibility of raising standards of living by the formation of a single, integrated market for the products of the members of the economic union; and they are largely concerned with the implica tions of such action for the domestic economic policies of the countries involved. That is to day, they are concerned with the "economics of welfare" rather than with the "economics of defense." But in the modern world the latter set of problems is, of course, of special if not of greater importance in considering the problems of the formation of any international union.