Money, Markets, and Sovereignty

Money, Markets, and Sovereignty

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by Benn Steil, Manuel Hinds
     
 

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Winner of the 2010 Hayek Book Prize given by the Manhattan Institute

"Money, Markets and Sovereignty is a surprisingly easy read, given the complicated issues covered. In it, Mr. Steil and Mr. Hinds consistently challenge today's statist nostrums."—Doug Bandow, The Washington Times

In this keenly argued book, Benn Steil and

Overview

Winner of the 2010 Hayek Book Prize given by the Manhattan Institute

"Money, Markets and Sovereignty is a surprisingly easy read, given the complicated issues covered. In it, Mr. Steil and Mr. Hinds consistently challenge today's statist nostrums."—Doug Bandow, The Washington Times

In this keenly argued book, Benn Steil and Manuel Hinds offer the most powerful defense of economic liberalism since F. A. Hayek published The Road to Serfdom more than sixty years ago. The authors present a fascinating intellectual history of monetary nationalism from the ancient world to the present and explore why, in its modern incarnation, it represents the single greatest threat to globalization.

Steil and Hinds describe the current state of international economic relations as both unusual and precarious. Eras of economic protectionism have historically coincided with monetary nationalism, while eras of liberal trade have been accompanied by a universal monetary standard. But today, the authors show, an unprecedentedly liberal global trade regime operates side by side with the most extreme doctrine of monetary nationalism ever contrived—a situation bound to trigger periodic crises. Steil and Hinds call for a revival of the political and economic thinking that underlay earlier great periods of globalization, thinking that is increasingly under threat by more recent ideas about what sovereignty means.

Product Details

ISBN-13:
9780300164589
Publisher:
Yale University Press
Publication date:
03/30/2010
Series:
Council on Foreign Relations Books
Pages:
304
Sales rank:
1,076,079
Product dimensions:
5.80(w) x 8.90(h) x 0.80(d)

Meet the Author


Benn Steil is senior fellow and director of international economics, Council on Foreign Relations, and founding editor of the journal International Finance. Manuel Hinds is a business and government consultant and former fellow, Council on Foreign Relations. He has twice served as minister of finance in El Salvador.

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Money, Markets, and Sovereignty 4 out of 5 based on 0 ratings. 1 reviews.
RolfDobelli More than 1 year ago
Globalization remains always controversial, especially during a severe recession. Its philosophical, political and economic history is a complex tangle, but globalism's current expression is even more complicated, weaving in everything from gold to monetary policy to nationalism. Council on Foreign Relations experts Benn Steil and Manuel Hinds have written a high-level, dense, but ultimately rewarding book for dedicated students of globalization. They contend that the U.S. Federal Reserve Bank faces a tough challenge managing the U.S. dollar as both a national and a global reserve currency. This book outweighs other popular texts on globalism in its scholarship, topic range and intellectual arguments. The authors make such a formidable case that critics will have to ratchet up their rebuttals dramatically. getAbstract highly recommends this work to policy makers and executives involved in globalization, but note: The book presumes more than a passing acquaintance with economic theory.