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World markets, national models / The Role of the Monetary Monopoly

Anno XXXIII, n. 146, settembre-ottobre 1998
Centro Einaudi


Testo disponibile solo in lingua inglese.
There are rules and rules. The problem is not to force states to respect the new rules decreed by politics (taxis) to preserve an impossible economic equilibrium which no one is capable of defining in concrete terms anyway. It is simply to make sure that the people entrusted with the management of states discover and respect the implicit rules of functioning (nomos) of the present financial system. In a world in which goods and capitals circulate freely, only the de-politicisation of the issue of currencies (that is to say, competition between private currencies) can prevent recurrent financial crisis. The present crisis is a step forward in this direction.