150 word discussion reply post

Question Description

Economics play an important role in International Relations. Traditionally regulation and control of industries is in the hands of individual countries. The United States may be the free-market economy. According to Roskin, Cord, Medeiros and Jones (2014), “The Europeans construct large and expensive welfare states whose controls and taxes work against starting new enterprises.” British Prime Minister, Margaret Thatcher was a promoter of capitalism and attacked the welfare state. Her ideals, which stretched to other countries became known as “Thatcherism” and led to freer markets (Roskin et al., 2014). Some countries had major objections from domestic interest groups and refused to go along with advancement of free markets. For these countries quotas and tariffs were a good place to hide behind. Other countries simply prohibited imports from abroad (Roskin et al., 2014).

The first half of the 20th Century brought two World Wars. After World War II there was a desperate need for peace and resolution. The forward thinking leaders searched for a way to bring about peace and resolution to the continent. In 1950 the French Foreign Minister, Robert Shuman, made a proposal. According to the Central Intelligence Agency (2018), “French Foreign Minister Robert Schuman proposed pooling the production of coal and steel in Western Europe and setting up an organization for that purpose that would bring France and the Federal Republic of Germany together and would be open to other countries as well.” In 1951 the Treaty of Paris was signed and the European Coal and Steel Community (ECSC) was formed. Belgium, France, West Germany, Italy, Luxembourg and the Netherlands signed the treaty. The ECSC was a success.

Shortly after The European Coal and Steel Community’s success further rudiments of the countries economies were integrated, ( 2018). Various treaties followed which in turn brought the union closer. These treaties included, the European Economic Community, the European Atomic Energy Community and trade barriers were eliminated and a common market was formed. Eventually the European Community was formed. Through this merger a single Commission, single Council of Ministries and the European Parliament were created. Members of the European Parliament have been elected every five years since 1979 ( 2018). According to (2018),

“The goals of the European Union are: promote peace, its values and the well-being of its citizens, offer freedom, security and justice without internal borders, sustainable development based on balanced economic growth and price stability, a highly competitive market economy with full employment and social progress, and environmental protection, combat social exclusion and discrimination and promote scientific and technological progress, enhance economic, social and territorial cohesion and solidarity among EU countries, respect its rich cultural and linguistic diversity and establish and economic and monetary union whose currency is the euro.”

Roskin, M. G., Cord, R. L., & Medeiros, J. A., Jones, W. S., (2014). Political Science: An Introduction (13th ed.). Pearson. Boston. (2018). Retrieved from (Links to an external site.)Links to an external site. (2018). Retrieved from

Final Answer




Economics Response
Thatcherism is credited for changing Britain by promoting free markets and a smaller
state that doesn’t interfere with people’s lives b...

PROF_HARRY (17050)
Boston College

The tutor was pretty knowledgeable, efficient and polite. Great service!

Heard about Studypool for a while and finally tried it. Glad I did caus this was really helpful.

Just what I needed… fantastic!

Similar Questions
Related Tags

Brown University

1271 Tutors

California Institute of Technology

2131 Tutors

Carnegie Mellon University

982 Tutors

Columbia University

1256 Tutors

Dartmouth University

2113 Tutors

Emory University

2279 Tutors

Harvard University

599 Tutors

Massachusetts Institute of Technology

2319 Tutors

New York University

1645 Tutors

Notre Dam University

1911 Tutors

Oklahoma University

2122 Tutors

Pennsylvania State University

932 Tutors

Princeton University

1211 Tutors

Stanford University

983 Tutors

University of California

1282 Tutors

Oxford University

123 Tutors

Yale University

2325 Tutors