Building Trust in the International Monetary System: The Different Cases of Commodity Money and Fiat Money, Pittaluga Giovanni Battista, Seghezza Elena
Описание: In this volume, Kuruma analyses Marx`s approach to the commodity and money in the first two chapters of Capital, vol I., including a discussion of the theory of the value-form and other important theoretical questions posed by Marx.
Описание: Since the 2008 global financial crisis, the debate on the reform of the international monetary system (IMS) has gained new momentum. It questioned the desirability of the current system's excessive reliance on the US dollar despite the fact that the US financial system has proven to be less than perfect, and US monetary policy stance has not been in tune with the business cycle of the rest of the world. However, attempts to reform the IMF or strengthen regional safety nets have not produced material results. With the challenges in the euro area persisting, the dollar is very likely to stay as the main reserve currency for the foreseeable future.Against this background, this book prescribes concrete steps on how to shape an alternative monetary system that will be a win-win solution to all without having to strike an international agreement on a new global governance structure. It proposes to use the RMB — already in motion to become an international currency — to become the third pillar without the need for China to open its capital account prematurely.For policy makers, this book will help them rethink how they can approach the problems facing the IMS. For the general readers, it will offer them a comprehensive view on what the international monetary system is about, what the problems are, and how these problems can be addressed. In particular, it will equip them with a better sense of what currencies they will need to carry when traveling around the world, or in what currencies they should hold their wealth in the coming decades.
Описание: This book argues that only by reforming the international monetary system can we prevent financial crises in the future and the internationalization of the Renminbi, China`s national currency, will be an important step in the process.
Описание: Based on extensive research in previously unavailable sources, A Search for Solvency relates intriguing and often complicated issues of economic analysis and diplomatic history.
Описание: Shows how money and banks emerge to address problems of trust between economic agents. This book offers a different approach for integrating monetary theory, banking theory, and standard economic theory in a game theoretical framework. This book emphasizes the importance of trust, supported by credible institutional structures in the industry.
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