WASHINGTON -- Europe: We love to vacation there, if we can afford it. It's the cultural mecca many of us flock to, to awaken our senses and feed our souls. But Europe as a political entity?

Toss out that image of Europe as relic. On Oct. 29, the heads of the 25 member nations of the European Union signed the European Constitution, to be ratified over the next two years by each state. These "United States of Europe" represent the rise of a new ideal that could eclipse the United States as the focus of the world's yearnings for well-being and prosperity. Yet our country is largely unaware of and unprepared for the vast changes that are quickly transforming the Old World and giving birth to what I call the new European Dream.

The old dream, the American Dream that made the individual the master of his fate and emphasized the personal accumulation of wealth, is faltering. A national survey taken in 2001 showed that one-third of all Americans no longer believe in the American Dream. In today's world, the European Dream, with its emphasis on inclusivity, diversity, sustainable development and interconnectedness, is the world's first attempt at creating a global consciousness. And it deserves our close attention.