Defizite und der Dollar: die Weltwirtschaft in Gefahr
In: Veröffentlichungen des HWWA-Institut für Wirtschaftsforschung, Hamburg
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In: Veröffentlichungen des HWWA-Institut für Wirtschaftsforschung, Hamburg
World Affairs Online
In: Current history: a journal of contemporary world affairs, Band 76, Heft 447, S. 197-200,229-230
ISSN: 0011-3530
World Affairs Online
In: American studies in Austria 9
History teaches us important lessons, provided we can discern its patterns. Multi-Polar Capitalism applies this insight to the crucial, yet often underappreciated issue of international monetary relations. When international monetary systems get first put into place successfully, such as the "classic" gold standard in 1879, Bretton Woods in 1945, or the dollar standard in 1982, they structure relations between the system's centre and the rest of the world so that others can catch up to the leader. But this growth-promoting constellation, a vector for accelerating globalization, runs its course eventually amidst mounting overproduction conditions in key sectors and spreading financial instability. Such periods of global crisis, from the Great Depression of the 1930s to stagflation in the 1970s and creeping deflation during much of the 2010s, force restructuring and policy reforms until conditions are ripe for a renewed phase of sustained expansion. We are facing such a turning point now. As we are moving from a US-dominated world economy towards a multi-polar configuration, we will also see the longstanding dollar standard give way to a multi-currency system. Three currency blocs rooted in the dollar, euro, and yuan will be dominated respectively by the United States, the European Union, and China, each a power centre representing a distinct variant of capitalism. Their complex mix of competition and cooperation necessitates new "rules of the game" promoting the shared pursuit of global public goods, in particular the impending zero-carbon transition, lest we allow fragmentation and conflict shape this next chapter of our history. Multi-Polar Capitalism adds to a century of research and debate on long waves,
In: Asian survey, Band 6, Heft 8, S. 434-447
ISSN: 1533-838X
In: Europäische Hochschulschriften
In: Reihe 5, Volks- und Betriebswirtschaft 3302
In: [United States]. Bureau of Foreign and Domestic Commerce. Trade information bulletin no. 632
In: Economica, Band 1, Heft 2, S. 121
"This text explores the social, cultural and historical contexts of paper money. Predicated on the assumption that paper bills speak to us through the use of symbols--letters, verbal and visual elements, as well as symbols of civic values--this book examines what has been conveyed to Americans via their currency from Colonial times through the present day"--Provided by publisher
In: Current history: a journal of contemporary world affairs, Band 76, Heft 447, S. 197-200
ISSN: 1944-785X
In: Routledge frontiers of political economy
In: Foreign affairs: an American quarterly review, Band 56, Heft 4, S. 879
ISSN: 2327-7793