Economic Union
Economic Union
☑️ This element is an expansion of the content of Lawi's courses, guides, tools and other solutions. It offers facts, commentary, and analysis on this topic. Do you like what you read? Can I ask a favor from you? Like and share it with your family and friends so that others can discover it too. If you have been forwarded this element, please subscribe here.
Summary of Economic Union
Also known as an economic community, an advanced form of economic integration on the part of several states. The economic union incorporates the features of a Common market (read this and related legal terms for further details)—unrestricted free trade among the members, absence of duties or quantitative restrictions on intramarket commerce, and a common external tariff—but is expanded to embrace a centralized internal economic policy including taxation, interest rates, money supply, uniform social programs, and perhaps a common currency.
The formation of an economic union is a precursor to full political union of the members.
(Main Author: William J. Miller)
Economic Union and the GATT Policy Negotiations
In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Economic Union: The highest level of economic integration between sovereign countries, in which members proceed beyond the requirements of a common market to unify their fiscal, monetary, and socioeconomic policies. Belgium and Luxembourg, for example, have been joined in an economic union since 1921.
Economic Union
Meaning of Economic Union, according to the Dictionary of International Trade (Global Negotiator): An economic union is the last step in an economic integration process. The previous ones are: free trade area, customs union and common market
. In addition to free movement of goods, services and production factors, it also requires integration of economic policies, both monetary and fiscal. Under an economic union members harmonized monetary policies, taxation and government spending
. In addition, a common currency is used by members and this could involve a system of fixed exchange rates. Clearly the formation of a economic union requires the surrender of a large measure of national sovereignty to a supranational body. Such a union is the previous and last step to political unification. See economic integration.
Economic Union
Embracing mainstream international law, this section on economic union explores the context, history and effect of the area of the law covered here.
Economic Union and Europe
There is an entry on economic union in the European global legal platform (publication).
Resources
Professional Content and Learning Tools
Lawi offers educational solutions and professional insight, integrating content, tools, and practical technology to promote lifelong learning, personal and professional improvement, and human progress through knowledge. Our collections feature resources and solutions from a wide range of subject areas, from management and finance to law and cybersecurity. This text is only a brief introduction. If you would like us to expand on this content, please let us know in the comments. If you’re finding our platform and newsletters valuable, share it with a colleague or friend, leave a comment and consider subscribing if you haven’t already (thanks!). There are group discounts, gift options, and referral bonuses available.
See Also
Including similar content viewed by others, in case you missed it:
Resources
Professional Content and Learning Tools
Lawi offers educational solutions and professional insight, integrating content, tools, and practical technology to promote lifelong learning, personal and professional improvement, and human progress through knowledge. Our collections feature resources and solutions from a wide range of subject areas, from management and finance to law and cybersecurity. This text is only a brief introduction. If you would like us to expand on this content, please let us know in the comments. If you’re finding our platform and newsletters valuable, share it with a colleague or friend, leave a comment and consider subscribing if you haven’t already (thanks!). There are group discounts, gift options, and referral bonuses available.
See Also
Including similar content viewed by others, in case you missed it:
Further Reading
Entry "Economic Union" in the work "A Concise Encyclopedia of the European Union from Aachen to Zollverein", by Rodney Leach (Profile Books; London)
Resources
Professional Content and Learning Tools
Lawi offers educational solutions and professional insight, integrating content, tools, and practical technology to promote lifelong learning, personal and professional improvement, and human progress through knowledge. Our collections feature resources and solutions from a wide range of subject areas, from management and finance to law and cybersecurity. This text is only a brief introduction. If you would like us to expand on this content, please let us know in the comments. If you’re finding our platform and newsletters valuable, share it with a colleague or friend, leave a comment and consider subscribing if you haven’t already (thanks!). There are group discounts, gift options, and referral bonuses available.
Resources
Professional Content and Learning Tools
Lawi offers educational solutions and professional insight, integrating content, tools, and practical technology to promote lifelong learning, personal and professional improvement, and human progress through knowledge. Our collections feature resources and solutions from a wide range of subject areas, from management and finance to law and cybersecurity. This text is only a brief introduction. If you would like us to expand on this content, please let us know in the comments. If you’re finding our platform and newsletters valuable, share it with a colleague or friend, leave a comment and consider subscribing if you haven’t already (thanks!). There are group discounts, gift options, and referral bonuses available.
See Also
Including similar content viewed by others, in case you missed it:
Further Reading
The entry "economic union" in the Parry and Grant Encyclopaedic Dictionary of International Law (currently, the Encyclopaedic Dictionary of International Law, 2009), Oxford University Press
Hierarchical Display of Economic union
Economics > Economic structure > Economic system
Economics > Economic policy > Economic policy > Economic integration
Trade > Tariff policy > Tariff policy > Customs union
International Relations > International affairs > International affairs > Economic relations
Finance > Monetary relations > Monetary relations > Monetary union
Economic union
Concept of Economic union
See the dictionary definition of Economic union.
Characteristics of Economic union
Resources
Professional Content and Learning Tools
Lawi offers educational solutions and professional insight, integrating content, tools, and practical technology to promote lifelong learning, personal and professional improvement, and human progress through knowledge. Our collections feature resources and solutions from a wide range of subject areas, from management and finance to law and cybersecurity. This text is only a brief introduction. If you would like us to expand on this content, please let us know in the comments. If you’re finding our platform and newsletters valuable, share it with a colleague or friend, leave a comment and consider subscribing if you haven’t already (thanks!). There are group discounts, gift options, and referral bonuses available.
Translation of Economic union
Spanish: Unión económica
French: Union économique
German: Wirtschaftsunion
Italian: Unione economica
Portuguese: União económica
Polish: Unia gospodarcza
Thesaurus of Economic union
Economics > Economic structure > Economic system > Economic union
Economics > Economic policy > Economic policy > Economic integration > Economic union
Trade > Tariff policy > Tariff policy > Customs union > Economic union
International Relations > International affairs > International affairs > Economic relations > Economic union
Finance > Monetary relations > Monetary relations > Monetary union > Economic union
See Also
Including similar content viewed by others, in case you missed it: