The Commonwealth and the Sterling Area
Strange, Susan. “The Commonwealth and the Sterling Area.” In Year Book of World Affairs 1959, edited by George W. Keeton, Georg Schwarzenberger, 24-44. London: Stevens, 1959.
Strange discusses the problem of sterling’s link with the politics of the Commonwealth, the interactions between the sterling area and the rest of the world economy and policy responses to national pressures. Interestingly she considers the reciprocal arrangements for dollar holding and settlement in London by the Commonwealth nations as approaching a ‘socialist’ ideal in attempting to provide funds, each to their need, from each as their ability warrants. In addition, Strange is critical of the separation of the national from the international in the analysis of international relations, a theme to which she would return repeatedly.
Keywords: Money and Finance; Monetary Policy; International Relations