The Future of the International Financial System

Paul Davidson

Chapter 12 in John Kenneth Galbraith and the Future of Economics, 2005, pp 165-179 from Palgrave Macmillan

Abstract: Abstract Despite the continuing support for the ‘Washington Consensus’ within the IMF, the World Bank and the US Treasury, most astute observers of the international financial system recognize that there is something seriously wrong with the existing system. Although many recognize the symptoms of a severe malady in the system, few realize what the fundamental flaws of the system are. Accordingly, few can prescribe the correct medicine to cure the illness or a vaccine to protect the international financial system from relapse.

Keywords: Exchange Rate; International Monetary Fund; Nominal Exchange Rate; Debt Service; Efficiency Wage (search for similar items in EconPapers)
Date: 2005
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Chapter: The Future of the International Financial System (2007)
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DOI: 10.1057/9780230523708_13

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