(AGENPARL) - Roma, 21 Febbraio 2023 - (AGENPARL) – mar 21 febbraio 2023 An almost-forgotten 19th century episode shows that international cooperation can be essential for a stable global monetary system []
(CREDIT: ADOBE STOCK/ BJÖRN WYLEZICH)
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Dear Colleague,
Bimetallism operated smoothly as long as the financial environment was stable and only one country needed to sustain it. When the going got tougher, maintaining bimetallism would have been beneficial, but it would have required international cooperation—and cooperation failed miserably, he writes.
“While today’s monetary system operates very differently from that of the 19th century, monetary stability remains a global public good, which requires international cooperation.”
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Nick Owen
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F&D Magazine
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