Resumen:
aOngoing processes in the European Union and South American Mercosur enforce politicaland institutionalreforms. Economists and piliticians must be able to understand these processes to formulate strategic scenarios, to design and implement interventions which contribute favorably to the future. Under four headings the discussion is organized: regional economic integration with respect to financial markets (and the consequencesfor Basel II), commercial and competitive policy, and the role of foreign direct investments. Internationaltrade and growth related to agricultural products, natural gas, and labor. Institutionalcomparisons and methodologicalproblems with respect to pharmaceutical price policies, teachers´salaries, income distribution, and critical realism. Fundamental changes of ICT affect governance structures, the value chain, and academic teaching and learning.