World Power And World Money

In This Review

World Power And World Money

By Andrew Walter
St. Martin's, 1991
273 pp. $55.00
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Drawing on both history and economic analysis, this excellent book presents a formidable challenge to the widely held idea that international monetary stability depends on the political hegemony of a country that manages the system. An Oxford don who recently worked for J. P. Morgan, Walker describes a "financial revolution" that has created a degree of international integration not allowed for in the Bretton Woods system but offering future possibilities of improved cooperation among a number of financial centers.