Synthesizing Research on the European Union

https://vladimirribakov.com

The economic principle I am researching is ¨“Institutions are the ‘rules of the game’ that influence choices”

The EU, although it contains some negative aspects, is completely necessary, for economic, cultural, and political reasons.


First, the EU is important to continue the economic prosperity of many countries in the EU. This is evidenced by a report from the Royal Economic Society which states that ¨big positive effect on average incomes in all but one of its member countries.” This coupled with the economic benefits provided by the Schengen Zone, including free movement of peoples and goods, or a free trade market, means that the EU is bringing benefits to its member countries. Although some of these economic benefits might come with other detrimental side effects, the overall effect is that of economic prosperity. The EU has become an economic powerhouse, and that is why it is necessary- in order to keep the flow of money up and to increase the economic prosperity of, not only the EU itself and its member countries, but also to the entire world.


The EU is also necessary because of the cultural benefit it provides, which comes in the shape of the free movement of people and goods created by the Schengen Zone. The Schengen Zone allows people to move freely across borders without necessitating a passport or visa. An article published in the Economist titled ¨Putting up Barriers¨ states that it ¨takes less time and effort to visit other countries, and even to work in other countries, in the case of some people.¨ The benefits of this free movement come in an ability to share culture and language, allowing the people of the EU to form a more cohesive, worldly community that centers around creating a better life for all people in the EU and around the globe. The Schengen Zone is a necessary and useful component of membership to the EU and one of the reasons that the EU is necessary.


Finally, the EU is necessary because it provides political stability and growth. This is something that is often overlooked in the EU, because many people see it as a primarily economic agreement. However, this agreement is also a political one, and allows political players in the EU to work together more effectively, accomplishing more in the long run. The EU is currently in a crumbling state as it gets closer and closer to disrepair after Brexit, however, according to Business Insider, in an article titled ¨Political Instability in Europe Rising,¨ it is described that as the EU begins to crumble, the political instability is increasing. This shows us a positive correlation between a strong EU and strong political stability- which is why the EU needs to be strengthened, and is a necessary institution. The EU provides so much to the member countries and is important and necessary throughout the world.