New Books In National Security

“Economics is the long-run driver” in the history of Europe’s monetary union, writes Richard Pomfret in the first of a new Cambridge Elements series on the Economics of European Integration: The Road to Monetary Union (Cambridge University Press, 2021). “Politics often determined the timing of the next step ... but it has not determined the direction of change”. In this "Element" – intended to be “longer than standard journal articles yet shorter than normal-length book manuscripts”, according to series editor Nauro Campos – Pomfret runs through the 50-year history of the project but with that core theme. While decisive political moments like German reunification are acknowledged, it is the economic drivers – the development of common policies, the single market and global value chains – that assume a central role in the process. Richard Pomfret is professor of economics at the University of Adelaide and was, until 2020, the Jean Monnet Chair in the Economics of European Integration. Before moving to Australi