Must-Read: (1971): On The Common Market: “Some day the nations of Europe may be ready to merge their national identities…
…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…
http://www.concertedaction.com/2012/08/16/nicholas-kaldor-on-the-common-market/
