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Global imbalances, monetary disorder, and shrinking policy space: Keynes's legacy for our troubled world

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  • Anna M. Carabelli

    (Università del Piemonte Orientale, Italy)

  • Mario A. Cedrini

    ()
    (Università del Piemonte Orientale, Italy)

Abstract

The paper aims at showing that revisiting Keynes's early writings on international economic relations and some less well-known episodes of his economic diplomacy, with special attention being paid to the methodological issues involved, may disclose useful insights in understanding the features of his desired new global order. We contrast the three main pillars of Keynes's vision as detected in this revisitation (coordinated multilateral responses to global imbalances, a rational international monetary regime, and enhanced policy space) with the major shortcomings of the current non-system, and show the continuing relevance not only of Keynes's specific proposals for global reform, but also, and most importantly, the legacy of his way of reasoning about international economic relations.

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Bibliographic Info

Article provided by Edward Elgar in its journal Intervention.

Volume (Year): 7 (2010)
Issue (Month): 2 ()
Pages: 303-323

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Handle: RePEc:elg:ejeepi:v:7:y:2010:i:2:p303-323

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Web page: http://www.elgaronline.com/ejeep

Related research

Keywords: John Maynard Keynes; international economic order; Bretton Woods II;

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Cited by:
  1. Cedrini, Mario Aldo & Marchionatti, Roberto, 2013. "On the Theoretical and Practical Relevance of the Concept of Gift to the Development of a Non-Imperialist Economics," Department of Economics and Statistics Cognetti de Martiis. Working Papers, University of Turin 201348, University of Turin.
  2. Anna M. Carabelli & Mario A. Cedrini, 2010. "“Veiling The Controversies with Dubious Moral Attitudes”? Creditors and Debtors in Keynes’s Ethics of International Economic Relations," Working Papers, SEMEQ Department - Faculty of Economics - University of Eastern Piedmont 127, SEMEQ Department - Faculty of Economics - University of Eastern Piedmont.

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