Interdependence in the International Monetary System
Strange, Susan. In The Euro-American System: Economic and Political Relations Between North America and Western Europe, edited by Ernst-Otto Czempiel and Dankwar A. Rustow, 31-49. Frankfurt: Westview Press, 1976.
Strange briefly outlines the character of the international monetary system, noting that while it has become at least partially transnational, posited solutions are still conceived at a national level. This leads her to argue that there needs to be a better attempt made to fit the response to crisis to the level at which it is manifest. Having suggested that the central country in the monetary system (the U.S.) could either try to co-ordinate activities, or by its very dominance alleviate the crisis by putting its own house in order, she suggests the best (though least likely) solution would be some form of global central bank. This leads her to conclude by stressing the political issues at the centre of the international financial system and the need to included justice as well as order or security in the academic assessment of the crisis.
Keywords: Hegemony; Money and Finance
Contributor(s): Susan Strange, Editor: Ernst-Otto Czempiel and Editor: Dankwart A. Rustow Keywords: Hegemony, Money and Finance, 1970's Source and Medium: Book Chapter
Year of Publication: 1976