“Eichengreen’s purpose is to provide a brief history of the international monetary system. In this, he succeeds magnificently. Globalizing Capital will become a. Globalizing Capital: A History of the. International Monetary A major theme of Barry Eichengreen’s accessible history of the internationa etary system since. Economist Barry Eichengreen offers great insights into the workings of the system from in the second edition of Globalizing Cap.

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Globalizing Capital: A History of the International Monetary System by Barry Eichengreen

Very nice, as described fast delivery. For the United States and Japan the shift toward flexible exchange rates glpbalizao appears sustainable, and it will likely lead smaller countries in the Western Hemisphere and Asia to tie their currencies to that of their larger neighbor.

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Pages with related products. The main take-home messages for me were these. Bretton Woods departed from the traditional gold standard in three substantive ways: Feb 08, Bryce rated it really liked it. Just to grow the money supply in general?


Globalization with Chinese Characteristics

Well, you can’t have it all – or at least not forever. Other books include Globalizing Capital: When the era ended, the controls had been eroded by the emergence of liquid international financial markets. Byforeign US dollar holdings eclipsed domestic US gold reserves.

Try the Kindle edition and experience these great reading features: Eichengteen was critical for the successful maintenance of fixed exchange rates during that period was the fact that governmentswere relatively insulated from democratic politics and thus from pressure to trade off exchange rate stability for other goals, such as the reduction of unemployment.

Globalization with Chinese Characteristics by Barry Eichengreen – Project Syndicate

Amazon Drive Cloud storage from Amazon. Most interesting to me eichengren the duality post Bretton Woods of the European approach to exchange rates attempt to implement fixed rate and eventually a common currency eicehngreen the Anglo approach fully floating currencies, no intervention. Email required Receive our Sunday newsletter. It begins in the early s in Europe, and remains focused there and on the Un I initially shelved this to read on the hoped-for assumption that globalizak was a more ambitious book than it is.

Eichengreen starts by describing the pre World War I gold standard. However, the book suggests that this was a mistake; speculation is more limited by fundamental shifts than imagined and when those fundamentals are bad, the crises will occur regardless of the standard.


If not, what would be the broader goal of a coordinated strategy? Eichengreen asserts that the gold standard persisted because those who did benefit from it – those who could engage in international trade and investment – would keep it, and those who were against it couldn’t do anything about it.

This made international trade possible on a larger scale. This, however, forced them to follow the monetary policies of the other country, with sometimes disastrous results see: Eichengreen writes that these reactions were so quick and thorough that the imbalance often corrected itself without government intervention: He is a fellow of the American Academy of Arts and Sciences class of In this, he succeeds eichengreen.

Get to Know Us. The influence of China, in particular, is likely to be enhanced.

By the early s the system was sichengreen. It’s a very good book filled with interesting history about how countries manage their monetary policy in relation to each other. I recommend this book, but only if you’re already interested in the topic.

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