The invisible hand

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The economies of the European Union are highly integrated, with the euro serving as a unifying currency for most Member States within the euro-zone. To ensure prosperity and stability in line with the European Stability and Growth Pact, it is essential to monitor and coordinate economic policies across the Union and its Member States. This necessity is heightened by the enlargement process, which introduces diverse economic policy concepts and traditions. A comprehensive understanding of the economic and socio-political debates in individual Member States requires knowledge of their social and historical contexts. In economics, human norms and conflicts significantly influence outcomes, alongside logical relationships and empirical data. Thus, relying solely on economic formulas and empirical facts is insufficient. Many economic textbooks, particularly those from the Anglo-Saxon tradition, often focus on technical accuracy and model-based presentations, neglecting the socio-political dimensions. Given the importance of economic realities for all citizens in Europe, it is crucial to engage those without a university degree in economics, ensuring that the discourse is accessible and relevant to a broader audience.