A hegemon-by-committee, or a group of nations playing the role of a dominant financial power, is necessary for the international financial system to withstand crises arising from drastic shifts of funds among national currencies, accompanied by large movements of exchange rates. These wide...

The goals of multilateral trade negotiations under the auspices of the General Agreement on Tariffs and Trade (the GATT) have been developed in the context of the orthodox theory of commercial policy. An analysis is offered that shows why the GATT ideal may not be a flexible medium-term goal...

The goals of multilateral trade negotiations under the auspices of the General Agreement on Tariffs and Trade (the GATT) have been developed in the context of the orthodox theory of commercial policy. An analysis is offered that shows why the GATT ideal may not be a flexible medium-term goal...

A hegemon-by-committee, or a group of nations playing the role of a dominant financial power, is necessary for the international financial system to withstand crises arising from drastic shifts of funds among national currencies, accompanied by large movements of exchange rates. These wide...