The Monetary Explanation of the Crisis and the Ongoing Threat to the Global Economy

Jane D'Arista and Korkut Erturk

Challenge, 2010, vol. 53, issue 2, 5-29

Abstract: Do we truly understand the sources of America's credit crisis? In a thorough telling of the history of foreign currency flows, these two economists persuasively assert that global imbalances, poorly managed, were the true source of the problem. If so, the solution is not merely guaranteeing bank credit and re-regulating Wall Street. It will require public management of the international monetary system. This bold piece is required reading.

Date: 2010
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DOI: 10.2753/0577-5132530201

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