Nicholas Kaldor on the United States of Europe

20 Aug, 2012 at 11:30 | Posted in Economics, Politics & Society | 1 Comment

Foreseeing the future is difficult. But sometimes it seems as though someone gets it terribly right: 

Some day the nations of Europe may be ready to merge their national identities and create a new European Union – the United States of Europe. If and when they do, a European Government will take over all the functions which the Federal government now provides in the U.S., or in Canada or Australia. This will involve the creation of a “full economic and monetary union”. But it is a dangerous error to believe that monetary and economic union can precede a political union or that it will act (in the words of the Werner report) “as a leaven for the evolvement of a political union which in the long run it will in any case be unable to do without”. For if the creation of a monetary union and Community control over national budgets generates pressures which lead to a breakdown of the whole system it will prevent the development of a political union, not promote it.

Nicholas Kaldor 1971 (!)

1 Comment

  1. The main thing I find impressive about this prediction is that it comes from an Economist – who from my reading of them seem to have a cunning ability to abstract away just basic common sense from much of their thinking.

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