TRADE BLOCS AND COMMON MARKETS

Though recent months have seen a spate of books on the European Economic Community, the broader trend toward common markets throughout the world has gone largely nremarked. The author's treatment of this aspect of international economic relations would alone make his book worthy of attention. But the author explores other frontiers. Recognizing that common markets have a history, Mr. Dell takes time off to explore the by-ways of common market development with a new feeling for the importance of detail. He examines the trade relationships of the past, comments on the fundamental realignment of the world's trading nations, and predicts how these shifts in the pattern of the world economy will affect relations between East and West, between developed and underdeveloped areas. The book is most successful when it is analysing the underlying forces that have brought common markets into being. Mr. Dell concludes that the European Economic Community is a creature of political strategy, and has serious doubts as to whether Western Europe has much to gain in the way of economics. He finds the case for integration of the underdeveloped areas simpler and much more impressive. Here economic motivations play the major role. Current interest in the subject and the author's fluid style combine to recommend this ably researched and well-written study to a wide audience. It will be useful for the student and invaluable for the intelligent layman.