Kindleberger argued that for a global economy to remain stable, there must be a single "stabilizer" or leader that maintains open markets for goods and provides counter-cyclical lending as a lender of last resort.
Mehrling highlights Kindleberger’s belief that the world is an "optimal currency area" where trade works best under a single currency—the U.S. dollar—rather than through international agreements or flexible exchange rates.
According to reviewers at Cambridge University Press , the book captures three distinct phases of Kindleberger's career:
His tenure at MIT, where he wrote the standard textbook on international economics and fought intellectual battles against both Monetarists and Keynesians.
Kindleberger argued that for a global economy to remain stable, there must be a single "stabilizer" or leader that maintains open markets for goods and provides counter-cyclical lending as a lender of last resort.
Mehrling highlights Kindleberger’s belief that the world is an "optimal currency area" where trade works best under a single currency—the U.S. dollar—rather than through international agreements or flexible exchange rates. Money and Empire: Charles P. Kindleberger and t...
According to reviewers at Cambridge University Press , the book captures three distinct phases of Kindleberger's career: Kindleberger argued that for a global economy to
His tenure at MIT, where he wrote the standard textbook on international economics and fought intellectual battles against both Monetarists and Keynesians. Money and Empire: Charles P. Kindleberger and t...