The world economy is caught in a money trap. Existing monetary arrangements meet the needs neither of the ageing societies of the West nor of younger emerging economies. This in-depth analysis explains how the world got into the grip of global finance - and how it can escape, with a growing demand for reform.
Robert Pringle, the chairman and founder of Central Banking journal, is a financial commentator, economics editor and entrepreneur. He has devoted his career to reporting and analysing developments in the international money and capital markets and the international monetary system. His experience gives him a unique perspective on the dramatic changes that have occurred in global economics and finance and the problems that face the world economy now. He has held senior positions on The Economist, The Banker (as editor), the Group of 30 (a well-known think tank of which he was the first director), and at the WIDER Institute of the United Nations University. He has also served as a consultant to leading commercial banks and to governments on economic policy issues. He founded Central Banking Publications in 1990 and has built it into a leading source of independent information and commentary on the activities of central banks around the world. He has interviewed numerous central bank governors and has commissioned and published original work by many leading international economists.
PART I: IN THE TRAP Into the Danger Zone Why Players Need a New Rulebook How Monetary Systems are Born World Money without an Anchor PART II: SEARCHING FOR WAYS OUT Improving National Policies A Solution for the Eurozone Money International PART III: FOUR KEY ISSUES Those Global Imbalances The Reserve Currency Overhang Can Banks Be Made Safe? Markets, States and Bubbles PART IV: HARNESSING THE POWER OF GLOBAL FINANCE 100 Years of Currency Plans The Choice of the Standard Towards a Real Global Currency The Emerging Global Financial System