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Who benefits and who loses when a common market for labour is extended to more countries? Explain your answer with reference to economic theory and to EU experience. Comment also on the future implications of the 2004 enlargement.
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Who benefits and who loses when a common market for labour is extended to more countries? Explain your answer with reference to economic theory and to EU experience. Comment also on the future implications of the 2004 enlargement. Many people talk about the 'common market', by which they meant the European Economic Community in its early decades. Ths is a group of geographically close European nations among which there is free trade and a common external tariff with free movement of capital, labour and enterprise as well as goods. Under the Treaty of Rome (1957) the member states agreed not only to form a customs union but also to form a common market. It had envisaged that there would be a fully free common market in the EEC within 12 years, but intra EEC economic activity evolved in a highly imperfect way with significant trade barriers remaining in many sectors. Policy makers...
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