This paper considers Kaldor's 1964 proposal for a commodity reserve currency (CRC) as a serious alternative to the current system, which has the US dollar as the world reserve currency. It argues that the reserve-currency status of the US dollar helped to create global imbalances and financial...

In 1949 Nicholas Kaldor co-authored a report whose recommendations, if implemented, would have revolutionized international economic policy-making. National and International Measures for Full Employment (NIFE) had been commissioned by the United Nations (UN). A capstone to efforts throughout...