Money, Markets, and Sovereignty

(Yale University Press, 2009)

Book Forum
May 19, 2009 12:00 PM to 2:00 PM EDT


Featuring Benn Steil, Co-author and Director of International Economics, Council on Foreign Relations; and Manuel Hinds, Co-author and Former Finance Minister of El Salvador. Moderated by Ian Vásquez, Director, Center for Global Liberty and Prosperity, Cato Institute.

The current state of international economic relations is unusual and precarious. Benn Steil and Manuel Hinds will explain how protectionism has historically coincided with monetary nationalism, whereas eras of liberal trade have been accompanied by a universal monetary standard. But the situation today is prone to crisis, because an unprecedentedly liberal global trade regime exists alongside monetary nationalism of an extreme kind. According to the authors, national monies and globalization don't mix. "If anything is likely to throw globalization into reverse, it is not trade itself, but the money that facilitates it." Please join us to hear their prescient analysis and their views on the future of the dollar and the emergence of a global monetary standard.