“The Shifts and the Shocks” by Martin Wolf

Book review from Warren Coats, CFR Editorial Board member, ex IMF and specialist adviser to central banks of "The Shifts and the Shocks" from Martin Wolf, generally considered one of the most influential writers in his field.

 

Money, Markets & Sovereignty

A central theme of this book is that such a dramatic expansion of trade could not have occurred without an international currency with which to pay for it. The gold standard – national currencies convertible into gold at fixed prices – provided such a world currency and other virtues as well.

The Money Trap:

Robert Pringle’s The Money Trap should be very high on the list of books for anyone wanting to understand the weaknesses and flaws in the existing approaches to national monetary and banking policies and the international arrangements that link them.   

 

“Hedge Fund Governance – Evaluating oversight,

At the end of the first chapter I was frustrated, as I was looking for a theoretical analysis and conclusion regarding corporate governance in hedge funds.
 

 

Capital Ideas: The IMF and the Rise of Financial Liberalisation

Jeffrey M. Chwieroth(Princeton University Press 2010) ISBN 978-0-691-14232-6, 311 pp. One of the most important economic changes in the post-World War II period was...

Getting it Wrong – by William Barnett

In Getting it Wrong1 William Barnett, an aggregation and index number theorist, makes a few important points about monetary policy in the United States, along with a few questionable claims for how to fix it, and some fairly bazaar speculations about why his proposals have received so little traction. 

 

 

David Stockman’s The Great Deformation: The Corruption of Capitalism in America

For six years I’ve told audiences (and even more than a few social acquaintances who would listen) that the 2008-09 Global Financial Crisis was not “The Big One.” In time, people will look back on that episode as relatively minor and fairly short-lived compared to the one we are building toward. Don’t believe me? 

 

Inside the Nixon Administration:

 

 On 15 August, 1971, President Richard Nixon unilaterally ended the international system of rules that had governed the financing of international trade and investment since the end of World War II.

Reading capital flows

The literature on capital flows is, unfortunately, not particularly gripping reading. It is not something to take to the beach without a strong sunscreen, for the danger of dozing off and burning to a crisp if the sun is high. Nonetheless, there are some useful works.

 

Reading Ireland

The Irish boom was real, up to a point, but the Irish crash is real too. Like her boom, Ireland’s subsequent problems have spawned a substantial literature – here we provide a guide to some of the more interesting.

Europe’s Unfinished Currency – by Thomas Mayer

In his “Europe’s Unfinished Currency”, Thomas Mayer gives us a highly readable account of the political origins of the European Union and its currency and its current weaknesses and promise. 

 

‘Fault Lines’ by Raghuram G. Rajan

Read our article in the Cayman Financial Review Magazine, eversion Much has already been written about the causes and cures of the financial crisis of...

From Georgetown to George Town – by Bill Walker

William Stuart Walker was one of the pivotal figures in the creation of Cayman as an offshore financial center and its subsequent development. Among...

“Government versus Markets: The Changing Economic Role of the State”

by Vito Tanzi, Cambridge University PressRead our article in the Cayman Financial Review Magazine, eversion If one has an interest in political economy, yet only...

Dollars, Euros, and Debt:

Vito Tanzi has again given us a solid economic explanation of what went wrong and why, and what can be done about it. Governments have grown too large, have spent way too much money, and have tried to get out of the mess through the inappropriate use of monetary policy rather than by drastically cutting spending. 

 

Regulating Criminal Finance in the Global Economy

Sharman’s book is a most interesting contribution to the discourse on the current measures to control money laundering and, to a lesser extent, terrorist financing.

 

The Monetary Conservative:

Inflation is the work of the devil, because it respects appearances without destroying anything but the realities.  Jacques Rueff

 

Good fences? Cross-border bankruptcy law

“Annual income twenty pounds, annual expenditure nineteen pounds, nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds, nought and six, result misery.”

 

How the government monopoly on money imperils the global economy

Detlev Schlichter says that “Today’s mainstream view on money is logically incoherent because it is in fundamental conflict with essential aspects of money and money’s role in a market economy.” 

 

The Law Market

In England, a motorcyclist was recently sentenced to six months in jail for riding at speeds of up to 122 mph on a half-mile...
- Advertisement -