Jonas Ljungberg
Professor emeritus
Discipline or international balance: the choice of monetary systems in Europe
Author
Summary, in English
In retrospect and erroneously the nineteenth century international gold standard was interpreted as a quest for monetary discipline. The discipline argument was introduced after WWI in support for a restoration of the gold standard. The interwar failure led to an emphasis on international balances, the argument which came to the fore in the preparations for the Bretton Woods system. The balance argument was central in the early discussions of monetary union in Europe, but with the criticism of Keynesianism the discipline argument became determinant in the design of the Economic and Monetary Union.
Department/s
- Growth, technological change, and inequality
- Department of Economic History
Publishing year
2022
Language
English
Pages
218-245
Publication/Series
European Journal of the History of Economic Thought
Volume
29
Issue
2
Document type
Journal article
Publisher
Routledge
Topic
- Economic History
Keywords
- Bretton Woods
- EMU
- Exchange rates
- Gold standard
- International monetary regimes
- B17
- B27
- F31
- N13
- N14
Status
Published
ISBN/ISSN/Other
- ISSN: 0967-2567