Globalizing Capital: A History of the International Monetary System

Globalizing Capital: A History of the International Monetary System

by Barry Eichengreen
     
 

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First published more than a decade ago, Globalizing Capital remains an indispensable part of the economic literature today. Written by renowned economist Barry Eichengreen, this classic book emphasizes the importance of the international monetary system for understanding the international economy. Brief and lucid, Globalizing Capital is intended not

Overview

First published more than a decade ago, Globalizing Capital remains an indispensable part of the economic literature today. Written by renowned economist Barry Eichengreen, this classic book emphasizes the importance of the international monetary system for understanding the international economy. Brief and lucid, Globalizing Capital is intended not only for economists, but also a general audience of historians, political scientists, professionals in government and business, and anyone with a broad interest in international relations. Eichengreen demonstrates that the international monetary system can be understood and effectively governed only if it is seen as a historical phenomenon extending from the period of the gold standard to today's world of fluctuating prices. This updated edition continues to document the effect of floating exchange rates and contains a new chapter on the Asian financial crisis, the advent of the euro, the future of the dollar, and related topics. Globalizing Capital shows how these and other recent developments can be put in perspective only once their political and historical contexts are understood.

Editorial Reviews

Library Journal
Eichengreen (Univ. of California-Berkeley), the author of Golden Fetters: The Gold Standard and the Great Depression, 1918-1939, uses a detailed history of exchange rate systems to support his theory that the democratization of political processes has presented competing goals to policymakers, making it more difficult for them to commit to fixed rates of exchange. His explanation for the movement toward floating exchange rates is controversial but well argued. The information he cites is current, and he incorporates a discussion of the European Monetary System and its future. Eichengreen's presentation of history is solid, with ample references. General readers will benefit from the glossary of his technical terms. -- A.J. Sobczak, formerly at California State University, Northridge
Journal of Economics
Barry Eichengreen...proves that good economics writing can be fascinating, exciting, illustrative, and still make a compelling point based on thorough analysis....Tightly interweaving economic theory, politico-economic analysis, and historical fact, he takes the reader on a grand tour through his view of the last 150 years of the international monetary system.
From the Publisher

"This book by a prominent economic historian is a succinct and well-written history of the international monetary system--the general framework in which financial transactions among residents of different countries take place--and its evolution.... [It] provides useful historical background for understanding current European efforts to create a monetary union."--Richard N. Cooper, Foreign Affairs

"Capital flows in the recent period, unlike those in the earlier one, proved to be incompatible with exchange rate stability. [Eichengreen's] reasons for the difference. . . constitute a unique insight and contribution. . . to the professional literature on a familiar topic."--Choice

Product Details

ISBN-13:
9781400828814
Publisher:
Princeton University Press
Publication date:
09/15/2008
Sold by:
Barnes & Noble
Format:
NOOK Book
Pages:
280
File size:
4 MB

What People are saying about this

Eichengreen's purpose is to provide a brief history of the international monetary system. In this, he succeeds magnificently. Globalizing Capital will become a classic.
Douglas Irwin
Eichengreen's purpose is to provide a brief history of the international monetary system. In this, he succeeds magnificently. Globalizing Capital will become a classic. -- University of Chicago

Meet the Author

Barry Eichengreen is the George C. Pardee and Helen N. Pardee Professor of Economics and Political Science at the University of California, Berkeley. His books include "Golden Fetters" and "The European Economy since 1945" (Princeton).

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