By John Gillingham
Mr. Gillingham is the main educated and erudite American student about the ecu. good performed.
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Extra resources for European Integration, 1950-2003: Superstate or New Market Economy?
S. public – along with its elected representatives – was wary of such involvement as a costly waste, an attitude that could be changed only over time or by an abrupt shift of circumstance. 4 In light of conditions prevailing in continental Europe, the lack of pressure for market-based solutions should come as no surprise. Intellectual entrepreneurship was in this respect conspicuously pianissimo; approval of the governmentinspired and -directed Marshall Plan was overwhelming even at Mont Pèlerin.
According to the inevitably hyped-up blurb on a recent biography, “many of his ideas have been vindicated . . ”5 The findings of the present study, an investigation of a subject that cuts across only a portion of his life’s work, adds to the weight and measure of his reputation. An ambition to develop a universal science of society drove Hayek’s intellectual inquiry, as it had done that of Max Weber, to whom the Austrian is often compared and with whom he had at one time hoped to study. Hayek’s thinking also had important antecedents in the special traditions of the Austrian school of economics, in which he and Ludwig von Mises were recognized as leading figures.
Monnet plowed the money into high-visibility projects like worker housing. In a somewhat more exotic area, the HA organized a crisis cartel in scrap, which alleviated immediate shortages. The High Authority also administered an expensive scheme of income transfers from the productive collieries of the Ruhr, where pay was low and levels of investment high, to the worn-out producing districts of Belgium, where wages were high and investment low – a bad precedent and the kind of inequitable measure that would have a sequel in the Common Agricultural Policy (CAP).