Organizing the World's Money: The Political Economy of International Monetary Relations, Bretton Woods: Birth of a Monetary System and Inflation, Exchange Rates and the World Economy: Lecture on International Monetary Economics

1979 ◽  
Vol 55 (1) ◽  
pp. 107-109
Author(s):  
Susan Strange
Keyword(s):  
Political Economy ◽  
Exchange Rates ◽  
World Economy ◽  
Monetary Economics ◽  
The Political ◽  
Bretton Woods ◽  
Monetary System ◽  
The World ◽  
Monetary Relations ◽  
International Monetary Economics

Conclusions

1998 ◽  
Author(s):  
W. W. Rostow
Keyword(s):  
United States ◽  
Political Economy ◽  
21St Century ◽  
World Economy ◽  
Industrial Revolution ◽  
The United States ◽  
Population Increase ◽  
The Political ◽  
The World ◽  
The Government

I have tried in this book to summarize where the world economy has come from in the past three centuries and to set out the core of the agenda that lies before us as we face the century ahead. This century, for the first time since the mid-18th century, will come to be dominated by stagnant or falling populations. The conclusions at which I have arrived can usefully be divided in two parts: one relates to what can be called the political economy of the 21st century; the other relates to the links between the problem of the United States playing steadily the role of critical margin on the world scene and moving at home toward a solution to the multiple facets of the urban problem. As for the political economy of the 21st century, the following points relate both to U.S. domestic policy and U.S. policy within the OECD, APEC, OAS, and other relevant international organizations. There is a good chance that the economic rise of China and Asia as well as Latin America, plus the convergence of economic stagnation and population increase in Africa, will raise for a time the relative prices of food and industrial materials, as well as lead to an increase in expen ditures in support of the environment. This should occur in the early part of the next century, If corrective action is taken in the private markets and the political process, these strains on the supply side should diminish with the passage of time, the advance of science and innovation, and the progressively reduced rate of population increase. The government, the universities, the private sector, and the professions might soon place on their common agenda the delicate balance of maintaining full employment with stagnant or falling populations. The existing literature, which largely stems from the 1930s, is quite illuminating but inadequate. And the experience with stagnant or falling population in the the world economy during post-Industrial Revolution times is extremely limited. This is a subject best approached in the United States on a bipartisan basis, abroad as an international problem. It is much too serious to be dealt with, as it is at present, as a domestic political football.

The Political Economy of Resources: Africa's Future in the Global Environment

1978 ◽  
Vol 16 (1) ◽  
pp. 1-32 ◽  
Author(s):  
Timothy M. Shaw ◽  
Malcolm J. Grieve
Keyword(s):  
Political Economy ◽  
World Economy ◽  
Raw Materials ◽  
Global Environment ◽  
The Political ◽  
Foreign Markets ◽  
Absolute Increase ◽  
Primary Products ◽  
The World ◽  
Relative Decline

Africa has become more reliant – not less – on exports of primary products and raw materials and on imports of finished and semifinished goods since independence… the fact that Africa's role in the world economy has undergone a relative decline at the same time as dependence on foreign markets, goods and capital has experienced an absolute increase is evidence that the gap between Africa and the industrialised world is growing, despite the ambitious efforts of African states to close it.1

The Principles and Operation of the Bretton Woods International Monetary System in the Years 1944–1971. The Reasons for Its Collapse

2016 ◽  
Vol 8 (2) ◽  
pp. 0-0
Author(s):  
Zbigniew Klimiuk
Keyword(s):  
International Trade ◽  
World Economy ◽  
International Monetary System ◽  
The United States ◽  
International Liquidity ◽  
Bretton Woods ◽  
Monetary System ◽  
The Us ◽  
The World ◽  
The Stability

The subject of the article is an analysis of the role of the US dollar in the development of international trade and the world economy during the period of the Bretton Woods monetary system (1944–1971). The international monetary system existing at that time was, in principle, a gold exchange standard based mainly on the national currency of the United States. However, a relatively small role was also played by other currencies including, in particular, the pound sterling. It should be noted that the Bretton Woods rules did not match the conditions in the world economy which emerged after World War II. The main areas of criticism concerned such assumptions as the maintenance of an official fixed price for gold, or a too narrowly interpreter postulate for the stability of the exchange rate. On the other hand, it should be noted that the introduction of the stability of exchange rates and the abolition of restrictions on payments were fundamentally sound decisions. They led in fact to the minimisation of a risk inherent in international trade and its rapid growth. One should also emphasise the fact that from the very beginning, in the international gold based monetary system there was an internal contradiction (paradox), which eventually led to its collapse. This was namely the fact that the growth in world trade created a growing demand for international liquidity. This was tantamount to a necessity to maintain a permanent balance of payments deficit in respect of the country whose currency was considered the key currency. At the same time, the growing volume of the US currency resulted in an increasing crisis of confidence in the dollar.

The Political Economy of Exchange-Rate Policy: U.S. and Japanese Intervention Policies, 1977–90

1993 ◽  
Vol 13 (4) ◽  
pp. 327-349 ◽  
Author(s):  
Keisuke Iida
Keyword(s):  
Political Economy ◽  
Exchange Rate ◽  
Exchange Rate Policy ◽  
The Other ◽  
Strong Tendency ◽  
The Political ◽  
Bretton Woods ◽  
Rate Policy ◽  
Monetary Relations ◽  
Intervention Policy

ABSTRACTSince day-to-day implementation of exchange-rate policy has been neglected in the literature on international monetary relations, U.S. and Japanese intervention policies in the post-Bretton Woods period are analyzed. The determinants of Japanese intervention policy are clearly identified: international coordination and U.S. intervention increase the amount of Japanese intervention. A strong tendency to ‘lean against the wind’ and some indication of ‘beggar-thy-neighbour’ policy exist as well. On the other hand, U.S. intervention policy is more elusive. There is some evidence, however, that Japanese and German intervention as well as the Louvre Accord and Democratic administrations led to larger amounts of U.S. intervention. Some interpretations are offered as to why it is difficult to unravel U.S. policy.

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