A New World Monetary System: Keynes' view revisited

Shehu Mohammed

MPRA Paper from University Library of Munich, Germany

Abstract: This essay critically examines the view of Keynes on the reform of the international monetary system. We then apply modern monetary and banking theory, where money is redefined as a pure numerical vehicle in contrast to money being defined as a net asset, to appraise those elements that are required for a functioning and efficient international monetary system. It is suggested that Keynes’ view are still very much relevant today if the world is to move from the present non-system of international monetary arrangements to a system where currencies would no longer be perceived as net assets and countries would no longer be grouped as key and non-key currency countries.

Keywords: Monetary System; Bank Money; Absolute Exchange Rate (search for similar items in EconPapers)
JEL-codes: F33 (search for similar items in EconPapers)
Date: 2009-11-07
New Economics Papers: this item is included in nep-hpe, nep-mac and nep-mon
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:18453

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