Economic Theory and Western European Integration

PrefaceI. The Probable Effects of Economic Integration In Western EuropeA) Economic Organization and Relations within the Union1. The Effect of Union on Employment2. The Effect of Union on Productivitya. The Effect of Union on Methods of Productionb. The Effect of Union on the Allocation of Outputc. The Effect of Union on Investment3. The Distribution of Gains among Member CountriesB) Economic Relations with the Outside World4. The Orthodox Argument5. An Illustration6. The Effect of Increased Productivity on the Terms of TradeII. The Theory Of The Balance Of Payments And The Problem Of A Common European CurrencyA) The Theory of the Balance of Payments1. The Classical Theory2. The Income Theory3. Migration4. The Role of the Capital Market5. The Role of Employment PolicyB) The Problems of Currency Union6. The Problem of an all-European Capital Market7. The Problem of an Integrated Employment Policy8. The Adequacy of ReservesC) A Note on the Concept of Adequate External ReservesIII. Economies of Scale, Competition, And European Integration1. The Choice of a Method of Production2. Determinants of the Choicea. The Size of the Firmb. The Rate of Accretion of Demandc. The Degree of Competition3. Effects on Economic Development4. Some Likely Consequences of IntegrationIV. The Doctrine of Comparative Advantage And The European Coal And Steel Community1. The Case of Factor Immobility2. The Case of Factor Mobility3. The Problem of Integration by Sectors