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Indian Currency and Beyond. The Legacy of the Early Economics of Keynes in the Times of Bretton Woods II

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  • Anna M. Carabelli
  • Mario A. Cedrini

    (SEMEQ Department - Faculty of Economics - University of Eastern Piedmont)

Abstract

In the paper, we revisit the focus and method of “Indian Currency and Finance” (1913) and the rationale of Keynes's proposal for an international monetary system combining cheapness with stability. In particular, we centre on the management of exchange reserve and the pattern of relationships between creditor and debtor countries, to suggest that Keynes's fresh look at Asia in the first years of the twentieth century may provide useful hints for an overall rethinking of the major faults of today's Bretton Woods II system as well as the rationale for a global monetary reform.

Suggested Citation

  • Anna M. Carabelli & Mario A. Cedrini, 2009. "Indian Currency and Beyond. The Legacy of the Early Economics of Keynes in the Times of Bretton Woods II," Working Papers 121, SEMEQ Department - Faculty of Economics - University of Eastern Piedmont.
    • Handle: RePEc:upo:upopwp:122
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    Cited by:

    1. Anna M. Carabelli & Mario A. Cedrini, 2014. "Keynes's General Theory , Treatise on Money and Tract on Monetary Reform : different theories, same methodological approach?," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 21(6), pages 1060-1084, December.
    2. Anna Carabelli, 2012. "A new methodological approach to economic theory: what I have learnt from 30 years of research on Keynes," Chapters, in: Jesper Jespersen & Mogens Ove Madsen (ed.), Keynes’s General Theory for Today, chapter 5, pages 79-97, Edward Elgar Publishing.
    3. Carabelli, Anna M. & Cedrini, Mario, 2013. "Globalization and Keynes’s Ideal of a “Sounder Political Economy between all Nations," Department of Economics and Statistics Cognetti de Martiis. Working Papers 201349, University of Turin.
    4. Jörg Bibow, 2010. "Global imbalances, the US dollar, and how the crisis at the core of global finance spread to "self-insuring" emerging market economies," European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing, vol. 7(2), pages 325-359.

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    More about this item

    Keywords

    John Maynard Keynes; Indian Currency and Finance; international economic order; exchange reserves;
    All these keywords.

    JEL classification:

    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • B40 - Schools of Economic Thought and Methodology - - Economic Methodology - - - General
    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F31 - International Economics - - International Finance - - - Foreign Exchange

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