Monetary Theory and Bretton Woods: The Construction of an International Monetary Order (Historical Perspectives on Modern Economics) [Hardcover]

Filippo Cesarano (Author)

Book Description

ISBN-10: 0521867592 | ISBN-13: 978-0521867597 | Publication Date: September 4, 2006 | Edition: 1

Over the twentieth century monetary theory played a crucial role in the evolution of the international monetary system. The severe shocks and monetary gyrations of the interwar years interacted with theoretical developments that superseded the rigid rules of commodity standards and led to the full-fledged conception of monetary policy. The definitive demise of the gold standard then paved the way for monetary reconstruction. Monetary theory was a decisive factor in the design of the reform proposals, in the Bretton Woods negotiations, and in forging the new monetary order. The Bretton Woods system - successful but nevertheless short-lived - suffered from latent inconsistencies, both analytical and institutional, which fatally undermined the foundations of the postwar monetary architecture and brought about the epochal transition from commodity money to fiat money.

Editorial Reviews

Review

"In this remarkable synthesis of the history of economic thought and the history of the international monetary system, Ceserano tells how the world made the transition from the gold standard in 1914 to fiat money in 1971....Highly recommended." -- Choice

"This is a timely thought-provoking account by a central banker (the head of the Historical Research Office of the Bank of Italy) of the long and often uncertain transition from the classical gold standard to the unprecendented fiat monetary system prevailing at the end of the twentieth century...I recommend it as an efficient account of the relevant theories and policies during the transition from the classical gold standard." - John H. Wood, Wake Forest University EH.NET

"This book is an excellent description of the evolution of monetary theory and history and gives an excellent account of the interaction of theory and events over time."
Kristen Wandschneider, Journal of Economic History

Book Description

The momentous transformations of the international monetary system after World War I culminated in the epochal transition from gold-based money to inconvertible paper money half century later. This book argues that advances in monetary theory played a decisive role in these major events and, particularly, in the Bretton Woods Agreements of July 1944.

See all Editorial Reviews

Product Details

• Hardcover: 262 pages
• Publisher: Cambridge University Press; 1 edition (September 4, 2006)
• Language: English
• ISBN-10: 0521867592
• ISBN-13: 978-0521867597
• Product Dimensions: 9.2 x 6.3 x 0.8 inches
• Shipping Weight: 1.2 pounds (View shipping rates and policies)
• Average Customer Review: 4.0 out of 5 stars  See all reviews (1 customer review)
• Amazon Best Sellers Rank: #3,617,539 in Books (See Top 100 in Books)

More About the Author

Discover books, learn about writers, read author blogs, and more.

Customer Reviews

Most Helpful Customer Reviews

4.0 out of 5 stars Does a good job of describing Bretton Woods, it's history and its effects, September 5, 2009

By 

1000Books "1000Books" (NY,NY) - See all my reviews

This review is from: Monetary Theory and Bretton Woods: The Construction of an International Monetary Order (Historical Perspectives on Modern Economics) (Paperback)

I wanted to review Bretton Woods as it is one of the most massive changes in financial history. It is probably necessary to also review the time period and decisions leading to the fiat monetary system in conjunction with this book. This book follows through on its promises, describing in detail the uniqueness of this recent change, the decisions and conditions that allowed for Bretton Woods and the ramifications on the financial system, leverage, and international transaction.