Money Meltdown: Restoring Order to the Global Currency SystemDespite worldwide rhetoric about free trade and the global economy, the leading economic powers have done little to address the most insidious form of protectionism - the inherently unstable international monetary system. In this analysis, Judy Shelton calls for a unified international monetary regime - a new Bretton Woods, to lay the foundation for worldwide stability and prosperity in the post-Cold War era. In outlining steps toward a new world monetary structure, this text elevates the needs of individual producers - who actually create wealth in the global economy - over the programmes of governments. |
Contents
Losing the Dream | 1 |
Retreat to Protectionism | 8 |
The Legacy of Bretton Woods | 15 |
Copyright | |
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achieve American anchor assets bankers billion Bretton Woods system budget deficit Bundesbank capital citizens Clinton commodity competition countries currency markets demand deutsche mark devaluation domestic economic economic policy Economist ernment Europe Europe's European monetary exchange markets exports Federal Reserve finance ministers fiscal fixed exchange rates fixed rate floating rates foreign exchange France free market free trade Friedman Germany Germany's global economy global gold standard global monetary gold convertibility gold standard Hayek Ibid individual industrial inflation interest rates International Monetary Fund intervention investment issue Japan Japanese Keynes manipulating ment mone monetary authorities monetary policy monetary relations monetary stability monetary union money supply nations nomic officials Paul Volcker percent political protectionism purchasing power rency role sound money Soviet spending target tion tional trade partners Treasury U.S. dollar U.S. government United Volcker Wall Street Journal White