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01772pab a2200181 454500 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION |
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180718b2003 xxu||||| |||| 00| 0 eng d |
| 100 ## - MAIN ENTRY--PERSONAL NAME |
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| Personal name |
Kelsey, Jane |
| 245 ## - TITLE STATEMENT |
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| Title |
The denationalization of money: embedded neo-liberalism and the risks of implosion |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. |
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| Date of publication, distribution, etc. |
2003 |
| 300 ## - PHYSICAL DESCRIPTION |
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| Extent |
p.155-76. |
| 362 ## - DATES OF PUBLICATION AND/OR SEQUENTIAL DESIGNATION |
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| Dates of publication and/or sequential designation |
Jun |
| 520 ## - SUMMARY, ETC. |
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| Summary, etc. |
Currencies, exchange rate mechanisms and monetary policy are intrinsically political. Throughout the 20th century they have been constantly renegotiated in response to periodic economic, social and political crises. Those who advocate the depolitization of monetary policy through central bank independence, and the more radical denationalization of currencies through dollarization and monetary union, aim to bring that history to an end and quarantine money from the control of governments, permanently. Critical theorists tend to treat these three techniques separately. This article seeks to understand their common ideological premises through the writings of three prominent advocates: Kurt Schuler, Robert Mundell and F.A. Hayek. When all three monetary regimes are re-embedded in the social, economic and political context in which they operate, deep contradictions emerge. These manifest in different ways in different national contexts, reflected in examples as diverse as `convertibility' in Argentina and European Monetary Union. The article concludes that such regimes are ultimately unsustainable, and challenges the belief that global capitalism can thrive in a social, cultural and political void that attempts to quarantine itself permanently from the contradictions it creates. - Reproduced. |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM |
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| Topical term or geographic name entry element |
Money |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM |
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| Topical term or geographic name entry element |
Currencies |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM |
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| Topical term or geographic name entry element |
Monetary policy |
| 773 ## - HOST ITEM ENTRY |
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| Main entry heading |
Social and Legal studies |
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