Monetary Nationalism and International Stability

Monetary Nationalism and International Stability PDF Author: Friedrich A. von Hayek
Publisher:
ISBN:
Category :
Languages : en
Pages :

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Monetary Nationalism and International Stability

Monetary Nationalism and International Stability PDF Author: Friedrich A. von Hayek
Publisher:
ISBN:
Category :
Languages : en
Pages :

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Book Description


Monetary Nationalism and International Stability

Monetary Nationalism and International Stability PDF Author: Friedrich August Hayek
Publisher: A. M. Kelley
ISBN:
Category : Business & Economics
Languages : en
Pages : 116

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Money, Markets, and Sovereignty

Money, Markets, and Sovereignty PDF Author: Benn Steil
Publisher: Yale University Press
ISBN: 0300156146
Category : Business & Economics
Languages : en
Pages : 301

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Book Description
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.

Rules for International Monetary Stability

Rules for International Monetary Stability PDF Author: Michael D. Bordo
Publisher: Hoover Press
ISBN: 0817920560
Category : Business & Economics
Languages : en
Pages : 381

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Book Description
Since the end of the Great Recession in 2009 the central banks of the advanced countries have taken unprecedented actions to reflate and stimulate their economies. There have been significant differences in the timing and pace of these actions. These independent monetary policy actions have had significant spillover effects on the economies and monetary policy strategies of other advanced countries. In addition the monetary policy actions and interventions of the advanced countries have had a significant impact on the emerging market economies leading to the charge of 'currency wars.' The perceived negative consequences of spillovers from the actions of national central banks has led to calls for international monetary policy coordination. The arguments for coordination based on game theory are the same today as back in the 1980s, which led to accords which required that participant countries follow policies to improve global welfare at the expense of domestic fundamentals. This led to disastrous consequences. An alternative approach to the international spillovers of national monetary policy actions is to view them as deviations from rules based monetary policy. In this view a return to rules based monetary policy and a rolling back of the " global great deviation" by each country's central bank would lead to a beneficial policy outcome without the need for explicit policy coordination. In this book we report the results from a recent conference which brought together academics, market participants, and policy makers to focus on these issues. The consensus of much of the conference was on the need for a classic rules based reform of the international monetary system.

Good Money, Part II

Good Money, Part II PDF Author: Stephen Kresge
Publisher: Routledge
ISBN: 0429637942
Category : Business & Economics
Languages : en
Pages : 294

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Book Description
Througout his life Hayek had a profound interest in money and its role within the economy. Money plays a critical part in his 1920s work on the trade cycle, which attempts to integrate capital theory and monetary theory. As late as the 1970s, Hayek was advocating radical reform of the monetary system, suggesting that the supply of money be turned over to private enterprise. This volume, together with Volume Six, Good Money, Part Two, collect all of Hayek's significant writings on money. Together they amply demonstrate both the significance of 'sound money' in Hayek's economic vision, and Hayek's importance as a monetary theorist.

Monetary Nationalism and International Stability

Monetary Nationalism and International Stability PDF Author: Friedrich August von Hayek
Publisher:
ISBN:
Category :
Languages : en
Pages : 108

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Prices and Production

Prices and Production PDF Author: Friedrich August Hayek
Publisher:
ISBN:
Category : Currency question
Languages : en
Pages : 162

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Choice in Currency

Choice in Currency PDF Author: F. A. Hayek
Publisher: Ludwig von Mises Institute
ISBN: 1610165101
Category : Keynesian economics
Languages : en
Pages : 51

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Tiger by the Tail, A

Tiger by the Tail, A PDF Author: Friedrich August Hayek
Publisher: Ludwig von Mises Institute
ISBN: 1610163192
Category : Keynesian economics
Languages : en
Pages : 194

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International Monetary Economics

International Monetary Economics PDF Author: Michael A. Heilperin
Publisher: Ludwig von Mises Institute
ISBN: 1610160282
Category :
Languages : en
Pages : 297

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Book Description
Michael Heilperin was a friend and colleague of Ludwig von Mises's in Geneva, and his specialization was the international monetary system. He applied the Austrian theory of the business cycle along with his knowledge of the balance of payments to warn against the rise of monetary nationalism. He wrote against the monetarist idea of floating fiat currencies and in favor of an international gold standard, and said that the debate was really between monetary chaos and international monetary stability. This 1939 work remains a definitive study of the author's times and our own.