Money and the Coming World Order - Softcover

Lewis E. Lehrman; Harold Van B. Cleveland; Charles P. Kindleberger; David P. Calleo

9780984017812: Money and the Coming World Order

Softcover

ISBN 10: 098401781X ISBN 13: 9780984017812

Publisher: The Lehrman Institute, 2012

Today, national economic policy making is largely concerned with the problems of unemployment and inflation. More precisely, it is their simultaneous combination in nearly all Western economies which preoccupies policy makers. As these problems grow worse, the stakes rise higher. We know that either severe unemployment or sustained inflation, let alone both together, can be expected to have the most serious consequences for liberal democracy.

Almost four decades ago, during America s worst economic period since the Great Depression, I wrote the words above in the first edition of this book (1976). Now, in 2012, one is tempted to quote the inimitable Yogi Berra: this is deja vu all over again.

Thus, the questions arise: Will the perennial global monetary crisis and the century-old age of inflation be underway forty years from now? Will the global economy have succumbed to national rivalries, mercantilism, currency wars, financial disorder and entropy? Or, will monetary order have been restored by the leading nations of the world in their own self-interest? The passage of almost forty years has not changed my mind; there is a necessary and sufficient solution to the problem of financial disorder. My conviction has only grown deeper that American and world prosperity depend on monetary reform, Federal Reserve reform, and restoration of international monetary order. American public and private finances have been sustained during the past generation by running down the immense capital laid up for us by centuries of frugal, enterprising forbearers. This liquidation of national capital for current, unrestrained, consumption may have a long, but finite life. The endgame is financial reform or national bankruptcy. National bankruptcy or its equivalent (systemic currency depreciation) is not inevitable. Monetary reform, led by America, is still plausible, especially because monetary reform has again become a national political issue.

Lewis E. Lehrman, 2012

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About the Author:

LEWIS E. LEHRMAN has written widely about economic and monetary policy in publications such as Harper s, The Washington Post, The Wall Street Journal, Weekly Standard, Policy Review, Crisis, New York Post, Greenwich Times, The American Spectator, Washington Times, Washington Examiner, National Review and The New York Times. His writings about monetary economics earned him an appointment by President Ronald Reagan to the Presidential Gold Commission in 1981. Along with Congressman Ron Paul, Lewis Lehrman collaborated on a minority report of the commission, which was published as The Case for Gold (1982). He is also the author of The True Gold Standard (2011) and Lincoln at Peoria: The Turning Point (2008).

In April of 1987, Lehrman joined Morgan Stanley & Company, investment bankers, as a Senior Advisor and a Director of Morgan Stanley Asset Management. In 1988, he became a Managing Director of the firm. He is presently Senior Partner of L. E. Lehrman & Co., an investment firm he established.

Lehrman has been named to the advisory board of the American Principles Project s Gold Standard 2012 initiative. He heads The Gold Standard Now a project of The Lehrman Institute. Established in 1972, The Lehrman Institute is a public policy foundation focused on history, economic and foreign policy, education, and local communities. He has been a trustee of the American Enterprise Institute, the Morgan Library, the Manhattan Institute, the Heritage Foundation and New-York Historical Society. He is a former Chairman of the Committee on Humanities of the Yale University Council.

Lehrman received the National Humanities Medal at the White House in 2005 for his teaching and studies of American history. In 2010, he was awarded the William E. Simon Prize for Lifetime Achievement in Social Entrepreneurship.

Lehrman earned his B.A. from Yale where he became a Carnegie Teaching Fellow on the Yale faculty and an M.A. from Harvard where he was a Woodrow Wilson Fellow. Lehrman has been awarded honorary degrees from Babson College (Babson Park, MA) where he was made a member of its Entrepreneurial Hall of Fame; Gettysburg College (Gettysburg, PA); Marymount University (Arlington, VA); and Thomas Aquinas College (Santa Paula, CA). DAVID P. CALLEO, Ph.D., has authored, among other works, Follies of Power: America s Unipolar Fantasy (2009); Rethinking Europe s Future (2001); The Bankrupting of America: How the Federal Deficit Is Impoverishing the Nation (1992); Beyond American Hegemony: The Future of the Western Alliance (1987); The Imperious Economy (1982); The German Problem Reconsidered (1978); America and the World Political Economy (1973); The Atlantic Fantasy (1970); Britain s Future (1968); The American Political System (1968); Coleridge and the Idea of a Modern Nation State (1966); and Europe s Future (1965).

Calleo earned his Ph.D. in political science (Yale University), and is currently the Dean Acheson Professor, Director of the European Studies Program and University Professor at The Johns Hopkins University. He was twice a project director for the Twentieth Century Fund; served as a consultant to the U.S. undersecretary of State for Political Affairs; and was the former Vice-Chairman for Academic Affairs at the Lehrman Institute.

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