LEADER 05112nam 22006375 450 001 9910523737703321 005 20240313111902.0 010 $a9783030882471 010 $a3030882470 024 7 $a10.1007/978-3-030-88247-1 035 $a(CKB)5100000000152608 035 $a(MiAaPQ)EBC6871185 035 $a(Au-PeEL)EBL6871185 035 $a(DE-He213)978-3-030-88247-1 035 $a(EXLCZ)995100000000152608 100 $a20211203d2022 u| 0 101 0 $aeng 135 $aurcnu|||||||| 181 $ctxt$2rdacontent 182 $cc$2rdamedia 183 $acr$2rdacarrier 200 10$aMulti-Polar Capitalism $eThe End of the Dollar Standard /$fby Robert Guttmann 205 $a1st ed. 2022. 210 1$aCham :$cSpringer International Publishing :$cImprint: Palgrave Macmillan,$d2022. 215 $a1 online resource (322 pages) 311 08$a9783030882464 311 08$a3030882462 320 $aIncludes bibliographical references and index. 327 $aChapter 1. International Money in Motion -- Chapter 2. Long Waves and Accumulation Regimes -- Chapter 3. A Short History of the Dollar Standard -- Chapter 4. The New Deflation - From Great Recession to Global Pandemic -- Chapter 5. The Great Interruption -- Chapter 6. Transition and Triad -- Chapter 7. Cooperation vs. Competition in a World of Adversarial Power Centers -- Index. 330 $aHistory teaches us important lessons, provided we can discern its patterns. Multi-Polar Capitalism applies this insight to the crucial, yet often underappreciated issue of international monetary relations. When international monetary systems get first put into place successfully, such as the "classic" gold standard in 1879, Bretton Woods in 1945, or the dollar standard in 1982, they structure relations between the system's centre and the rest of the world so that others can catch up to the leader. But this growth-promoting constellation, a vector for accelerating globalization, runs its course eventually amidst mounting overproduction conditions in key sectors and spreading financial instability. Such periods of global crisis, from the Great Depression of the 1930s to stagflation in the 1970s and creeping deflation during much of the 2010s, force restructuring andpolicy reforms until conditions are ripe for a renewed phase of sustained expansion. We are facing such a turning point now. As we are moving from a US-dominated world economy towards a multi-polar configuration, we will also see the longstanding dollar standard give way to a multi-currency system. Three currency blocs rooted in the dollar, euro, and yuan will be dominated respectively by the United States, the European Union, and China, each a power centre representing a distinct variant of capitalism. Their complex mix of competition and cooperation necessitates new "rules of the game" promoting the shared pursuit of global public goods, in particular the impending zero-carbon transition, lest we allow fragmentation and conflict shape this next chapter of our history. Multi-Polar Capitalism adds to a century of research and debate on long waves, those roughly half-century cycles first identified by the great Soviet economist Nikolai Kondratiev in the early 1920s, by highlighting the role of the international monetary system in this distinct boom-and-bust pattern. Robert Guttmann is Professor of Economics at Hofstra University, USA, and he is also affiliated with the Centre d'Économie Paris Nord (CEPN) of the Université Paris XIII in France. He studied in Vienna and at the University of Wisconsin-Madison, USA, before obtaining his PhD at the University of Greenwich, UK. He won "Distinguished Teacher of the Year" awards at Hofstra in 1989, 2004, and 2012. Professor Guttmann teaches international economics, monetary economics, financial regulation, and economic integration in the European Union. An expert in money and banking, international finance, and monetary theory, he has published numerous books and journal articles, including his best-selling books How Credit-Money Shapes the Economy (1994), Cybercash (2003), Finance-Led Capitalism (2016) and Eco-Capitalism (2018). 606 $aMacroeconomics 606 $aInternational economic relations 606 $aInternational finance 606 $aEconomics 606 $aMacroeconomics and Monetary Economics 606 $aInternational Economics 606 $aInternational Finance 606 $aPolitical Economy and Economic Systems 615 0$aMacroeconomics. 615 0$aInternational economic relations. 615 0$aInternational finance. 615 0$aEconomics. 615 14$aMacroeconomics and Monetary Economics. 615 24$aInternational Economics. 615 24$aInternational Finance. 615 24$aPolitical Economy and Economic Systems. 676 $a332.042 676 $a332.042 700 $aGuttmann$b Robert$f1951-$0123568 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910523737703321 996 $aMulti-Polar Capitalism$92591846 997 $aUNINA