ABSTRACT
The first Industrial Revolution in Britain gradually spread over the Continent, and the first important steps of a second industrial revolution led by Germany occurred in the middle of the nineteenth century. The United States took over the leading role; its average income level reached one-and-a-half times the income level of Western Europe. Postwar reconstruction and economic development were strongly influenced by integration though other factors, such as the extensive development model Europe used also played some role. Europe started to elevate again, into the leading group of the world’s most advanced regions. A great number of economists, using various methods, have analyzed the impact and advantages of European Union integration for economic development. The outcomes of the various calculations are understandably often rather different and contradictory, and there are unsolved questions. After the miraculous postwar reconstruction, Europe enjoyed a great boom period and became more than five times richer.
