Left to Their Own Devices
Abstract
The European Union (“EU”) has among its most fundamental goals and principles a convergence of the economies of, and a weakening of internal frontiers between, its member states. Economic integration, so conventional wisdom would have it, will increase the efficiency and competition within the internal market, lowering consumer prices and contributing to a more effective allocation and utilisation of resources. At least that is the theory. Given the development over the past couple of decades, whether those goals have been achieved is to a degree dependent upon your political point of view, but there can be no denying the convergence or harmonisation of significant amounts of national legislation throughout the EU.
