Money and the Nation State

by Dowd, Kevin; Timberlake, Richard H., Jr.

• ISBN13: 9781560009306
• ISBN10: 1560009306
• Format: Paperback
• Copyright: 1997-12-01
• Publisher: Transaction Pub

Summary

This book examines the history of modern monetary and banking arrangements, some of the major monetary and banking problems, and options for meaningful reform. The common theme of all the essays is that current arrangements result less from the accomplishments of great men than man-made institutions that society has inherited -- central banks and the legal and regulatory frameworks that accompany them. The contributors emphasize the impact of political interference on the workings of monetary and financial institutions. Not surprisingly, they find many problems arise because politically generated structures are inappropriate to the real needs of the individuals and groups they are meant to serve. Money and the Nation State provides an essential framework for those willing to return to first principles in thinking about the role of monetary institutions in economic life.

Table of Contents

Foreword
Introduction	p. 1
An Evolutionary Theory of the State Monopoly over Money	p. 21
National Sovereignty and International Monetary Regimes	p. 47
From Gold to the Ecu: The International Monetary System in Retrospect	p. 77
The Gold-Exchange Standard in the Interwar Years	p. 105
Gold Standard Policy and Limited Government	p. 167
U.S. Financial Policy in the Post-Bretton Woods Period	p. 193
Bank Deposit Guarantees: Why Not Trust the Market?	p. 213
The IMF's Destructive Recipe: Rising Tax Rates and Falling Currencies	p. 247
Global Economic Integration: Trends and Alternative Policy Responses	p. 305
The Political Economy of Discretionary Monetary Policy: A Public Choice Analysis of Proposals for Reform	p. 331
The Misguided Drive toward European Monetary Union	p. 351
Monetary Nationalism Reconsidered	p. 377
Currency Boards and Free Banking	p. 403
About the Editors and Contributors	p. 423
Index	p. 431
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