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International Monetary Reform |
An international monetary system in the strict sense of the world does not presently exist. Every country has it own system. Most people do not
understand how unusual the system is.
The present international monetary system neither manages the interdependence of currencies nor stabilizes prices. Instead of relying on the equilibrium produced by automaticity, the superpower has to resort to "bashing" its trading partners which it treats as enemies
For thousands of years countries have anchored their currencies to one of the precious metals or to another currency. But in the quarter century since the international monetary system broke down, countries have been on their own, a phenomenon that has no historical precedent in the cooperative game known as the international monetary system. RAM |
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"My main concern today is with a permanent improvement in the international monetary system. There is no financial architecture today, and the problem of reform is to create it" RAM
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Presentation at the Capital University of Economics and Business in Beijing, September 6, 2006 (Note: this is a powerpoint presentation in Adobe PDF format) |
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Journal of Policy Modeling
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▪ October
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Robbins Lecture delivered at the “Bologna-Claremont” Conference on Monetary Stability and Economic Growth, San Miguel de Allende, Mexico, October 2, 1999. |
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The International Monetary System: The Missing Factor
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The Journal of Policy Modeling
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▪ 1979
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World Money and the Optimal Policy Mix
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The Dollar Glut and the Tariff War
▪ September
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Economic Notes
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The International Monetary Fund
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Joint Economic Committee HearingsWashington, D.C
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