The Economic Conditions of Inter-State Federalism 1

Abstract

It is rightly regarded as one of the great advantages of interstate federation that it would do away with the impediments as to the movement of men, goods, and capital between the states and that it would render possible the creation of common rules of law, a uniform monetary system, and common control of communications. The material benefits that would spring from the creation of so large an economic area can hardly be overestimated, and it appears to be taken for granted that economic union and political union would be combined as a matter of course. The most compelling reasons for extending the union to the economic sphere are provided by the necessity to preserve the internal coherence of the Union. Planning, or central direction of economic activity, presupposes the existence of common ideals and common values.

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