European Coal and Steel Community (ECSC)
Definition
The ECSC was an organization established by six European countries in 1951 to regulate their industrial production under a centralized authority. It was a major step towards economic integration which led eventually towards establishing the EU.
Analogy
Consider ECSC as six friends deciding to pool their money together for buying video games so everyone can play without individually owning them all - it’s about sharing resources for mutual benefit.
Related terms
Treaty of Paris (1951): This treaty established ECSC; it’s like signing an agreement among friends about pooling money for video games.
Schuman Declaration: Named after French foreign minister Robert Schuman, this declaration proposed the creation of ECSC. It's like one friend coming up with the idea of pooling money for video games.
Supranationalism: This is a type of multinational political union where negotiated power is delegated to an authority by governments of member states. It’s like friends agreeing to let one person manage their pooled money and decide which video games to buy.
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