This book deals with the economic consequences of monetary integration, which has long been dominated by the Optimal Currency Area (OCA) paradigm. In this model, money is perceived as having developed from a private sector cost minimization process to facilitate transactions. Not surprisingly,...

The horizontalist perspective is an extension of the post-Keynesian approach, that has hitherto focused on a theory of credit and money. This book extends horizontalism beyond its traditional boundaries and makes it consistent with the post-Keynesian theories of output and the open economy. The...

"Dollar hegemony [use of the US dollar as the benchmark currency under the Bretton Woods system] is a feature of modern international financial order, and it confers significant economic and political privileges on the US. This book explores the political economic foundations of and prospects...