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Cooperation or Conflict? The European Union in a Liberal Global Economy

Martin Wolf
International Affairs (Royal Institute of International Affairs 1944-)
Vol. 71, No. 2 (Apr., 1995), pp. 325-337
Published by: Wiley on behalf of the Royal Institute of International Affairs
DOI: 10.2307/2623437
Stable URL: http://www.jstor.org/stable/2623437
Page Count: 13
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Cooperation or Conflict? The European Union in a Liberal Global Economy
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Abstract

The author contests the orthodox view that conflicts between the narrow interests of individual states, on the one hand, and an orderly global trading system, on the other, are bound to arise frequently. He identifies the roots of this view in the mercantilist approach to economic interaction among states that has dominated the classic international relations perspective on trade, and shows how the justification for the mercantilist stance is founded on a false equivalence of the interests of the state with the interests of individuals. Contrasting mercantilism with liberalism, he argues that the EU's international liberalism, as evidenced by its development of the single market, is in sharp contrast to its mercantilist policy towards all beyond its borders.

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