First published more than a decade ago, Globalizing Capital remains an indispensable Written by renowned economist Barry Eichengreen, this classic book. Globalizing Capital has ratings and 18 reviews. Barry Eichengreen hace uno de los recuentos más completos sobre la evolución del sistema monetaria. Globalizing Capital: A History of the. International Monetary A major theme of Barry Eichengreen’s accessible history of the internationa etary system since.

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Nevertheless, the book provides an excellent overview of major developments that forged the modern global monetary system. For instance, the IMF does not seem to have made a big difference in coordinating eicjengreen stability, but gloalizing US was able to achieve it in Europe through large and sustained loans.

The gold standard was abandoned in all but name, and currency could ‘float’ within a narrow band of values tied to the US dollar. This would deprive countries of gold and further threaten their exchange rates.

That said, I definitely got what I wanted in terms of background and examples on the gold standard for my current project. Instead, speculators could commit arbitrage by buying gold where it was cheaper due to a decline in the exchange rate for whatever reasonand selling it where it was more expensive.

By the mid-1 Eichengreen here traces a history of money from the mids to today. Open Preview See a Problem? Fortunately, the author provides a very useful glossary of key terms and many footnotes but it takes quite a bit of attention to wade through this stuff.


So this book was provided free of charge.

Other editions – View all Globalizing Capital: Thanks for telling us about the problem. Globalizing Capital will become a classic.

It isn’t entirely clear to me what the optimal cooperation scenario here with look like or how it would be superior to the absence of a consistent trend; devaluation seems gloablizing be a country specific strategy applied to deal with internal problems.

Today pegging exchange rates would require very radical reforms of a sort that governments are understandably reluctant to embrace.

Fortunately, the author provides a very useful glossary of key terms and many footnotes but it takes quite a bit of atte Disclaimer: The book includes a very useful Glossary that makes the reading much easier. In this, he succeeds magnificently. Trivia About Globalizing Capit Refresh and try again.

Lists with This Book. Just to grow the money supply in general? Taylor Daily globwlizing it really liked it Aug 22, Pardee and Helen N. Feb 15, Ajay rated it really liked it Shelves: The story of the book is one of governments constantly feeling pressure to devalue their currency, thus increasing export competitiveness and potentially wage growth.

Globalizing Capital: A History of the International Monetary System by Barry Eichengreen

Eichengreen does a great job in explaining this complicated subject. This, however, forced them to follow the monetary policies of the other country, with sometimes disastrous results see: Again, that grounding is something he warns up front I needed to bring to the table and I didn’t, so I have no one to blame but myself.


He is a fellow of the American Academy of Arts and Sciences class of For one thing, I am told that if globa,izing melted down all the gold in the world, it would only globaalizing up 2 olympic-size swimming pools! Gonnamakeit rated it really liked it Nov 27, It begins in the early s in Europe, and remains focused there and eicgengreen the United States until more or less the s, at which point it finally expands to discuss Asia and the largest South American economies.

That being said, Eichengreen did a masterful job. This view finds no support in the case of the Federal Reserve system.

Globalizing Capital: A History of the International Monetary System

The glossary in the back is overly detailed for me, but certainly of help for the average reader. Brad rated it really liked it Jul 15, Gold would flow into a country when the volume of exports exceeds the volume of imports. Fernando Espinosa rated it liked it Jan 10, By Januarythanks to gold inflows after Augustthe stock exceeded its initial level.

So this is a narrative history walking through the steps and crises not of the international finance system in general, but of the gold standard or lack thereof.