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Rich Europe, Poor Europe

From its earliest days, the European Union has aimed for balanced economic development across its many regions. The Maastricht Treaty contains the striking phrase “overall harmonious development.” But, however admirable this sentiment may be, there is no “scientific truth” about the “right” level of disparities and the correct speed of convergence.

Nevertheless, it is useful to compare economic disparities in the EU with those in the United States to assess regional convergence in Europe – bearing in mind, of course, that the US has been a nation-state for more than two centuries, while the EU is best seen as a confederation of 27 states under a supra-national structure.