A Survival Test for ECM

by Reed Moyer



The article presents a survival test for European Common Market. It represents modern man's boldest attempt to integrate economies of several nations. More than a customs union, it governs numerous areas of economic activity in that it provides for the free movement of capital and labor among the member nations, establishes a framework to support common transport market, puts a damper on the member nations merger and cartel activities, seeks to equalize social security benefits and cost among member countries and arranges for the training of workers losing employment from the adverse impact of Common Market policies. Despite the significance of the foregoing features of the Common Market, its main impact stems from the tariff-cutting provisions that seek to convert the European Economic Community into a free trade region by the end of this decade. There are some similarities between conditions today and those of one hundred years ago. The tariff treaties of the mid-nineteenth century and the Common Market had in common the objectives of reducing trade barriers, and in each instance there was some underlying industry opposition.

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