Monetary Nationalism and Floating Exchange Rates
Monetary Nationalism and Floating Exchange Rates
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货币民族主义和浮动汇率
DOI：
10.1007/978-1-349-04527-3_3
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发表时间：
1980
期刊：
影响因子：
--
通讯作者：
R. Mundell
中科院分区：
文献类型：
--
作者：
R. Mundell
过去十年，国际经济体系发生了很大变化。为了理解它，我们必须不断更新我们对其演变的评估。我们必须找到过去和现在之间的相似之处，以便预测未来的世界--如果我们足够乐观地认为我们可以对未来说些什么。我们必须在认识到差异的同时，寻求现在和过去之间的相似之处。在某些情况下，差异是明显的，而相似之处是隐藏的。这就是动荡的20世纪货币领域的经历。在其他情况下，很难找到不同之处，而相似之处是显而易见的。这发生在世界货币体系更加统一的时候，就像有序的19世纪那样。十九世纪和十三世纪一样，是一个相对有序的世纪。20世纪和14世纪一样，是一个无序的世纪，这种无序是表面上的。它在一次又一次改变其形式的货币体系中表现得最为戏剧性。然而，在这些变化的背后，有一些不变。自1971年以来，我们经历了三四个不同的国际经济体系。在8年的时间里，我们在国际货币体系方面的经验比阿尔弗雷德·马歇尔一生的经验都多。马歇尔在1912年说过，他从来没有厌倦过重复这样一个事实：关于货币，人们能说的最重要的事情就是它不重要！他强调了货币的不重要性，因为在他的可兑换货币世界中，黄金集团扮演着单一货币单位的角色。尽管他对货币事件有广泛的了解，
The international economic system has changed a great deal over the past decade. To und erstand it we have to keep renewing our evaluation of its evolution. We must find the similarities between the past and the present in order to predict the world of the futureif we are optimistic enough to think we can say something about the future. We must seek the similarities between the present and the past while recognising the differences. In some cases, the differences are obvious while the similarities are concealed. That has been the experience of the turbulent twentieth century in the monetary area. In other cases, the differences are very hard to find and the similarities are obvious. That happens when the world has a more unified monetary system, as in the ordered nineteenth century. The nineteenth century, like the thirteenth century, was a century of relative order. The twentieth century, like the fourteenth century, is a century of disorder, and this disorder appears on the surface. It is revealed most dramatically in the monetary system which has been changing its form over and over again. Yet underneath these changes are some invariants.Since 1971, we have moved through three or four different international economic systems. In eight years we have had more experience with international monetary systems than Alfred Marshall had in his whole lifetime. Marshall said in 1912 that he ne ver tired of repeating the fact that the most important thing one could say about currency was that it is unimportant! He stressed the unimportance of currency because in his world of convertible currencies the gold bloc acted as a single monetary unit. Notwithstanding his extensive knowledge of monetary events,