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Preface

The United States of Europe: European Union and the Euro Revolution, Revised Edition

ISBN: 978-1-78052-314-9, eISBN: 978-1-78052-315-6

Publication date: 7 December 2011

Abstract

In 1936, John Maynard Keynes taught us macroeconomics in the context of a sovereign nation state and the Keynesian Revolution successfully overwhelmed the critics. In the post-WWII decades, the concept of supranational macroeconomics became the core theme of the continental economic integration of Europe. The progression of the historic movement, anchored to the concept of one European family is an accomplishment of immense magnitude. Students of economics are now aggressively challenged to study the new paradigm of continental macroeconomics. One common economic unit with its well-specified micro- and macroeconomic parameters has been mapped onto one common geographic unit, the continent of Europe, a group of sovereign European nation states voluntarily surrendering their erstwhile sovereignty. Of course, each EU Member State has retained its authority to approve the EU decision, mostly by Treaties, before it can be functionally operational. The official inauguration of one common money, the euro, managed by one common supranational central bank, the European Central Bank (ECB), on January 1, 1999, has been an epochal event in the eventful history of the European Union (EU) from 1958 through the present.

Citation

Dutta, M. (2011), "Preface", Dutta, M. (Ed.) The United States of Europe: European Union and the Euro Revolution, Revised Edition (Contributions to Economic Analysis, Vol. 292), Emerald Group Publishing Limited, Leeds, pp. xxiii-xxviii. https://doi.org/10.1108/S0573-8555(2011)0000292005

Publisher

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Emerald Group Publishing Limited

Copyright © 2011, Emerald Group Publishing Limited