In This Review
The Politics of International Monetary Reform-The Exchange Crisis

The Politics of International Monetary Reform-The Exchange Crisis

By Michael J. Brennan

Ballinger, 1976, 144 pp.
Floating Exchange Rates-The Lessons of Recent Experience

Floating Exchange Rates-The Lessons of Recent Experience

Edited by H. Fournier and J. E. Wadsworth

Sijthoff, 1976, 229 pp.

"How we got here" and "where we are" might be the titles for these helpful books. Brenner, a political scientist, deploys all the latest fashions in terms and catchwords but then settles down to a valuable analytic history of how government officials and central bankers coped with the troubles of the early 1970s. He stresses short-run views and partial approaches to what became a major change in the system. The largely European contributors to the other volume, many of them bankers and businessmen, discuss the results as of autumn 1974.