The Economics of the European Union and the Economies of Europe

The George Washington Journal of International Law and Economics, January 1, 1997 | Go to article overview

The Economics of the European Union and the Economies of Europe


The Economics of the European Union and the Economies of Europe, by Larry Neal and Daniel Barbezat. New York: Oxford University Press, 1998. Pp. 396. $ 29.95 (softcover).

As an introductory text to the economies of Europe, The Economics of the European Union and the Economies of Europe provides a strong basic analysis of both the differences and commonalities among the various economies in Europe. Larry Neal, a professor of economics at the University of Illinois, Urbana-Champaign, and Daniel Barbezat, an associate professor of economics at Amherst College, divide their treatment of the economic study of Europe into two parts. The first analyzes the economic history and policies of the European Union (EU) as a whole. The second examines each of the constituent parts of the EU in greater detail, emphasizing the unique experiences, goals and policies of each country or group.

The text begins with a brief history of the move to a more integrated European economy after World War II-from the establishment of the European Coal and Steel Community to the Treaty of Rome establishing the European Economic Community to the developments in the 1980s leading to the European Union of today. Throughout the period the goal-with some dissent at various points-has been the increase of free trade among the states that make up the EU.

The Common Agricultural Policy (CAP) is one of the most important parts of the EU, and it is correspondingly given much space by Neal and Barbezat. …

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