Monetary regimes of the twentieth century
Author(s)
Bibliographic Information
Monetary regimes of the twentieth century
（Economic and social studies / National Institute of Economic and Social Research, 42）
Cambridge University Press, 2001
- : hbk
Available at / 50 libraries
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Research Institute for Economics & Business Administration (RIEB) Library , Kobe University図書
: hbk332.4-862081000095295
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Library, Institute of Developing Economies, Japan External Trade Organization図
: hbkG||332||M1214673149
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Note
Includes bibliographical references (p. 232-239) and index
Description and Table of Contents
Description
Abstract economic theory may be timeless and potentially universal in its application, but macroeconomics has to be seen in its historical context. The nature of the policy regime, the behaviour of the economy and the beliefs of professional economists all interact, and influence each other. This short historical account of monetary regimes since 1900 shows how the role of policy has changed, and how this has related to experience of inflation and the real economy, as well as to changes in political philosophies. The narrative concentrates on developments in America, Europe and Japan from the era of the classical gold standard, via the era of policy intervention and reduced faith in the market to the present 'neo-liberal' regimes. The 'grand narrative' of the century is a journey 'to Utopia and back'. It is argued that no school of macroeconomics is right for all time; different theoretical models may be appropriate, for different periods and regimes.
Table of Contents
- Introduction: economics and history
- 1. Before the First World War (1900-1914)
- 2. World War I and after
- 3. Crisis and depression (1925-1939)
- 4. World War II and after (1939-1950)
- 5. The Golden age (1950-1965)
- 6. Policy failure (1965-1980)
- 7. Liberalisation (1980-1990)
- 8. Back to the beginning? (1990-1999).
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