"An nescis, mi fili, quantilla prudentia mundus regatur" (Do you not know, my son, with how little wisdom the world is governed?). Axel Ostenstierna, 1684. "The purpose of studying economics is to learn how not to be deceived by economists" Joan Robinson (Professor of Economics at Cambridge University) Economics and Politics are not just academic subjects; they are the realisation of man's ideologies, concepts and dreams. It is passionate, important and flexible, and it shapes our lives. Knowledge of political and economic history and an understanding of the current economic structure in a globalised economy, help us understand the choices we have when building tomorrow's world. At this critical time in the European Union's young history, there is much to be understood and perhaps much to change if we are to fulfil the dreams of its founding fathers.