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Judy Shelton
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Money Meltdown Hardcover – March 28, 1994

by Judy Shelton (Author)
4.1 4.1 out of 5 stars 34 ratings
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The author of The Coming Soviet Crash calls for a unified structure to restore stability to the current international monetary system, raising the needs of individual producers of wealth above those of governmental programs.
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  1. Print length
    399 pages
  2. Language
    English
  3. Publisher
    Free Press
  4. Publication date
    March 28, 1994
  5. Dimensions
    6.5 x 1.25 x 9.75 inches
  6. ISBN-10
    0029291127
  7. ISBN-13
    978-0029291122
  8. See all details
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Editorial Reviews

From Publishers Weekly

In the author's masterful treatment, monetary theories come alive. Starting with an overview of the work of John Maynard Keynes and Harry Dexter White, Shelton ( The Coming Soviet Crash ) examines the pivotal gold-based Bretton Woods agreement of 1944, which created a stable international monetary system. President Lyndon Johnson's inability to wage war abroad without properly financing it at home, she maintains, eroded Bretton Woods. Deficits and inflation became commonplace, undermining the dollar in international trade. By the late 1980s, monetary disorder, "rampant throughout the world," had become the norm. Shelton's solution: a gold standard operated by the government. She claims it would be "a tremendous contribution" not "just to free but also fair trade." Although she minimizes downside risks associated with this undertaking, her sterling prose and provocative observations should engender debate among central bankers and politicians.
Copyright 1994 Reed Business Information, Inc.

From Library Journal

Shelton (Hoover Inst., Stanford Univ.) examines the current disorder in international monetary relations and explains the far-reaching effects of the erratic and fluctuating exchange rates on world trade and international investments. She does a masterful job of analyzing the evolution of the international monetary system, from the preparations for the Bretton Woods conference in 1944 to the postwar currency stability to the current disorder of monetary relations. She then presents an "agenda" for a new fixed exchange rate-based monetary regime that would remedy the deficiencies of the current system and take into account the post-Cold War environment. This book will be of interest to academics, policy makers, politicians, and others who want to gain a better grasp of the implications of the disorderly flow of capital created by the behavior of the exchange market speculators. For academic libraries.
- Ali D. Abdulla, East Carolina Univ., Greenville, N.C.
Copyright 1994 Reed Business Information, Inc.

Product details

  • Publisher ‏ : ‎ Free Press; First Edition (March 28, 1994)
  • Language ‏ : ‎ English
  • Hardcover ‏ : ‎ 399 pages
  • ISBN-10 ‏ : ‎ 0029291127
  • ISBN-13 ‏ : ‎ 978-0029291122
  • Item Weight ‏ : ‎ 1.6 pounds
  • Dimensions ‏ : ‎ 6.5 x 1.25 x 9.75 inches
  • Customer Reviews:
    4.1 4.1 out of 5 stars 34 ratings

About the author

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Judy Shelton

Judy Shelton

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Judy Shelton is an economist with expertise in global finance and monetary issues. She is co-Director of the Sound Money Project at the Atlas Economic Research Foundation. Author of The Coming Soviet Crash (1989), Money Meltdown (1994), and Fixing the Dollar Now: Why US Money Lost Its Integrity and How We Can Restore It (2011), her international economics articles have been published by The Wall Street Journal, New York Times, Washington Post, Financial Times, Nihon Keizai Shimbun and El Economista. She has given expert testimony before the Joint Economic Committee, Senate Banking, Senate Foreign Relations, House Banking, and House Foreign Affairs committees. She is a former senior research fellow at the Hoover Institution (Stanford University) and was professor of international finance at DUXX Graduate School of Business in Monterrey, Mexico. She was a staff economist for the National Commission on Economic Growth and Tax Reform chaired by Jack Kemp (1995-96) and has served on the boards of Hilton Hotels and Atlantic Coast Airlines. In January 2010 she was named Vice Chairman of the Board of Directors of the National Endowment for Democracy, she is the Board’s regional expert on Russia, Ukraine and Belarus and also serves on the Budget and Audit Committee. Dr. Shelton holds a Ph.D. in business administration from the University of Utah.

Customer reviews

4.1 out of 5 stars
34 global ratings

Top reviews from the United States

Kindle Customer
5.0 out of 5 stars Gold!
Reviewed in the United States on December 7, 2022
Verified Purchase
This somewhat dated book reminds us of the dire impact of inflation on the lives of regular Americans. And it spares no blame for the causes of this misery.
One person found this helpful
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Karl Thompson
4.0 out of 5 stars More US citizens need to read this book
Reviewed in the United States on November 23, 2008
Verified Purchase
First, the only reason I did not give this 5 stars is because I think the book could have been more concise. I don't fault Ms Shelton for this as much as I do her editor.

That said, her points are well made. She starts off with the "Legacy of Bretton Woods". Then discusses (at length) both what conditions were like in many of the countries at the time as well as what went wrong and why Nixon finally removed this country from the modified gold standard of Bretton Woods (by the way, Paul Volker was heavily involved with this decision according to Shelton.) I for one appreciated the well documented, scholarly history lesson.

The 4th chapter titled "Theory vs Reality" discusses 4 currency theories: dirty float, pegged rates, hard currency and private currency. She discusses strengths and weaknesses of all the systems.

The book concludes with recommendations. She covers both what she thinks is the best monetary system and how to implement it. I won't tell you what she suggests. But I'll say this - the book was last updated in 1998, and given what has happened (I'm writing this in Nov. 2008) since that time, it's too bad the powers that be, didn't listen to this lady.
24 people found this helpful
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Amazon Customer
5.0 out of 5 stars A free trade system, before ww 1, based on a gold standard.
Reviewed in the United States on August 16, 2019
Verified Purchase
This book covered a lot of ups and downs in global economics, plus many individual countries, this took up about half the book, it was a good insight, the other half informed us about how a classical gold standard might be reintroduced.
8 people found this helpful
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Faith
5.0 out of 5 stars Excellent
Reviewed in the United States on February 12, 2022
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The book helps greatly to understand the causes of inflation
3 people found this helpful
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Roger
5.0 out of 5 stars Insightful and influential: a US policy blueprint?
Reviewed in the United States on April 28, 2017
Verified Purchase
An insightful view of global monetary economics that seems even more relevant now than when written. It is that, all the more, given the author's apparent influence in the new US administration (if not yet a formal role, beyond the Transition Team).
6 people found this helpful
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Freedom P.
5.0 out of 5 stars A book that needs to be on every bookshelf.
Reviewed in the United States on October 13, 2014
I read this book years ago. It was an "early adopter" on this topic and the author showed a lot of courage at the time to write what is only today hitting the mainstream media—and then it's propagandized when it does. There are more current reads on this topic, however, this book remains the only one I know of that directly speaks to how the major world governments get together each year to rig global currency floors and ceilings so that the term "floating" is a misnomer. True, the book is a bit of a scholarly read, but don't let that deter you. You woke up one morning to life as usual and ended the day with two major financial structures in NY on the ground (9/11). In the coming decade, you'll have a repeat of that with the exception that you'll find our economy severely in the toilet and go to bed at the beginning of the next Great Depression that will last 20-30 years. Pay attention to these scholarly reads. You won't see this stuff on Fox News or CNN. Blessings to all! (Just to qualify my comment let me add about myself: Degrees in engineering, business, and finance. A retired corporate CFO. It helps to know who's writing these things)
12 people found this helpful
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FTWJIM
4.0 out of 5 stars The Breton Woods Agreement 1944.
Reviewed in the United States on May 16, 2021
Verified Purchase
I lived this journey and can remember the effects on my lifetime. The inflation, recessions and general repercussions.
2 people found this helpful
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Amazon Customer
2.0 out of 5 stars Clichés
Reviewed in the United States on September 23, 2021
I saw this woman on CNBC in 2021. What a bunch of baloney came out of her mouth. Hasn't learned much since writing this book. No command of facts. Said we almost got to balancing the budget by 1994. Duh! Not only was it balanced but the Bush-Cheney administration were desperate to increase it again. Everything else was a cliché.
3 people found this helpful
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