Towards a more stable monetary world order
In memoriam: Jean Guyot, a champion of global currency reform.
Today’s global monetary and financial system is often compared unfavourably with the Bretton Woods regime that prevailed from the post-World War II period to the early 1970s.1 Since the end of the Bretton Woods system, there have been four waves of large-scale international crises, each of which has been preceded by a credit bubble involving mispricing of financial and capital assets.2 Financial instability has undermined economic
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