Globalizing Capital: A History of the. International Monetary A major theme of Barry Eichengreen’s accessible history of the internationa etary system since. Eichengreen, B.: Globalizing Capital: a. System. IX, pp. Princeton Univer. US $ Barry Eichengreen at his best: his lat international monetary system. “Eichengreen’s purpose is to provide a brief history of the international monetary system. In this, he succeeds magnificently. Globalizing Capital will become a.

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Globalizing Capital: A History of the International Monetary System by Barry Eichengreen

A monetary regime that requires international cooperation for it to be viable will not survive. Fortunately, the author provides a very useful glossary of key terms and many footnotes but it takes quite a bit of atte Disclaimer: Big economies could tolerate changes in the exchange rate, like the United States.

Eichengreen makes frequent allusion to the fact that countries could easily devalue their currency without setting off the spiral of exchange rate drops if they just did it together, but apparently that has essentially never happened. Now Barry Eichengreen presents a brief, lucid book that tells the story of the international financial system over the past years.

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Barry Eichengreen, Globalizing Capital

I’ll certainly admit that if I had taken the time to review the macroeconomic concepts eichengreeb here, which I have learned at least twice before, I probably would’ve gotten more out of the book.


By the mid-1 Eichengreen here traces a history of money from the mids to today. So this book was provided free of charge.

If not, what would be the broader goal of a coordinated strategy? My library Help Advanced Globalkzing Search. The book also convinced me that the arguments of the ‘gold bugs’ — as to why we need to go back to a currency that is backed by gold — are fundamentalistic and spurious.

There’s just so much to unpack in this book. An excellent, clearly-written history of 20th century international finance and introduction to international finance for the novice reader. LDCs have tried to reduce high inflation rates by unilaterally pegging the nominal exchange rate as a nominal anchor in a stabilization program.

Globalizing Capital: A History of the International Monetary System

Brad rated it really liked it Jul 15, Eichengreen Limited preview – Now Barry Eichengreen presents a brief, lucid book that tells the story of the international financial system over the past years. Volker RittbergerBernhard Zangl No preview available – No trivia or quizzes yet. The Euro experiment and how we don’t know yet if it’s going to work is also an interesting case study, but the author also points out the advantages of globalizinng European currency and why it became an alternative to the Dollar so fast.

And on a few occasions, Eichengreen provides “rational” explanations for investor behavior that conventional wisdom suggests is something like a collective punishment for a lack of fiscal discipline.

Its writting is clear, precise and consider the historical aspects of the Monetary Economy pretty well. After the war, nobody was willing to agree with the system not even the British and Frenchand the United States was hiding in isolationism.


Because banks had little encouragement eichngreen borrow from the Reserve banks, there was a shortage of eligible bills.

Globalizing Capital

The last section of the book discusses the current, free-floating and uncoordinated system of free trade and fast finance. Feb 08, Bryce rated it really liked it. Eichengeen here traces a history of money from the mids to today. Prices of currencies were influenced by the principles of supply and demand of the usage of those currencies.

Still, eidhengreen seems a bit odd to me that the preface frames the ups and downs the narrative describes as more or less the outcome of a globalziing class struggle.

However, he shows that capital mobility was also high prior to World War I, yet this did not prevent the maintenance of fixed exchange rates. It has become increasingly apparent that one cannot understand the international economy without knowing how its monetary system operates.

He is a fellow of the American Academy of Arts and Sciences class of How much more so, it follows, will lack of consensus exist at the international level. A lot of details, very thorough.