Interdependence And Capabilities For European Cooperation

It is a commonplace that the world has grown more interdependent during the twentieth century. One can point to revolutions in transportation, communication, and weapons capabilities, or to the financial interdependencies of Eurodollars and foreign exchange sensitivities. It is not generally appreciated, however, that many of the international capabilities for dealing with problems that arise from these interdependencies have suffered a decline during the same period, at least relative to the burdens of interdependence that must be borne and often relative even to the level of capabilities that existed several decades ago. Western Europe nevertheless constitutes a substantial exception to the general trend, an island of cohesion in an increasingly disorganized world. A historical and contemporary comparative perspective may help to point out the peculiarly favorable opportunities now open to Western Europe.