Once a staple, plans for international monetary reform have become rather scarce. To produce his, Professor Cohen gets right down to fundamentals, defines his aims in political as well as economic terms, rejects as inadequate every basic principle on which other people have founded systems, and refuses to go along with the weighty analysts who think that informal understandings are better than new rules. The result is a set of clear prescriptions and a stimulating book that is now essential reading.
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