NATIONAL ECONOMIC-POLICY VERSUS INTERNATIONAL COORDINATION

The increasing integration of the world economy leads to growing interdependencies of national economies and to a permanent erosion of the national autonomy of economic policy. A derivative of this situation is the repeated demand for stronger international coordination of economic policy. However, not only the desirability but also the practicability of this can be questioned. Above all, the fact that attempts at coordination should swear by a generally accepted theoretical structure implies a difficult task. But not only does the ,,how " in coordination present problems in this respect but also the ,,whether at all" can be placed in doubt.