International Economic Relations of the Western World, 1959-1971, Volume 1: Politics and Trade; International Economic Relations of the Western World, 1959-1971, Volume 2: International Monetary Relations

In This Review

International Economic Relations of the Western World, 1959-1971, Volume 1: Politics and Trade

By Andrew Shonfield and Others
Oxford University Press (for the Royal Institute of International Affairs), 1976
459 pp. $28.75
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International Economic Relations of the Western World, 1959-1971, Volume 2: International Monetary Relations

By Susan Strange
Oxford University Press (for the Royal Institute of International Affairs), 1976
416 pp. $28.75
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". . . To explore a style of international behaviour associated with a particular epoch . . ." was the aim set out by Andrew Shonfield and his colleagues at Chatham House. The result is a major work, indispensable for an understanding of a period that saw some of the greatest achievements of the postwar system as well as the changes that created the crises of the 1970s. In Volume 1, Shonfield interprets the broad economic and political developments in a long essay, followed by close studies of trade problems by Gerard and Victoria Curzon and T. K. Warley. Susan Strange's analytical history of the monetary affairs of the period fills almost all the second volume. She concludes that the United States should propose a new political framework in which the world can deal with international money. Shorter essays discuss development financing and "the internationalization of economic analysis." Not only valuable but interesting.