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Jonas Ljungberg. Photo.

Jonas Ljungberg

Professor emeritus

Jonas Ljungberg. Photo.

Discipline or international balance: the choice of monetary systems in Europe

Author

  • Jonas Ljungberg

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