What Do Markets Have in Common? Toward a Fast Train Policy in the European Community

One of the original hopes for European unity was that a huge frontierless economic region could replicate the economic dynamism of America's post-war economy. In the past dccade thc common "market" took on another meaning as Europe became disillusioned with interventionist public policies and explicitly turned to privatization and markets to promote growth. Europeification has come to mean not only efforts to break down trade barriers, but a shift away from national-level interventionism toward the sort of the market organization of economic life associated with Adam Smith. The European Community is increasingly seen as a structure for imposing discipline on governments that might otherwise mcddle with industry -as a referee in an enormous free market