Money, Markets, and Sovereignty (Council on Foreign Relations Books) - Hardcover

Steil, Benn; Hinds, Manuel

Hardcover

ISBN 10: 0300149247 ISBN 13: 9780300149241

Publisher: Yale University Press, 2009

Synopsis

Winner of the 2010 Hayek Book Prize given by the Manhattan Institute

"Money, Markets and Sovereignty is a surprisingly easy read, given the complicated issues covered. In it, Mr. Steil and Mr. Hinds consistently challenge today's statist nostrums."—Doug Bandow, The Washington Times

In this keenly argued book, Benn Steil and Manuel Hinds offer the most powerful defense of economic liberalism since F. A. Hayek published The Road to Serfdom more than sixty years ago. The authors present a fascinating intellectual history of monetary nationalism from the ancient world to the present and explore why, in its modern incarnation, it represents the single greatest threat to globalization.

Steil and Hinds describe the current state of international economic relations as both unusual and precarious. Eras of economic protectionism have historically coincided with monetary nationalism, while eras of liberal trade have been accompanied by a universal monetary standard. But today, the authors show, an unprecedentedly liberal global trade regime operates side by side with the most extreme doctrine of monetary nationalism ever contrived—a situation bound to trigger periodic crises. Steil and Hinds call for a revival of the political and economic thinking that underlay earlier great periods of globalization, thinking that is increasingly under threat by more recent ideas about what sovereignty means.

About this title

About the Author:

Benn Steil is senior fellow and director of international economics, Council on Foreign Relations, and founding editor of the journal International Finance. Manuel Hinds is a business and government consultant and former fellow, Council on Foreign Relations. He has twice served as minister of finance in El Salvador.

Review:

“[I]mpossibly good.”—Brian Domitrovich, Forbes (Brian Domitrovich Forbes)

About this edition

• Publisher: Yale University Press
• Publication date: 2009
• ISBN 10: 0300149247
• ISBN 13: 9780300149241
• Binding: Hardcover
• Number of pages: 304