Political Economy of Money : Emerging Fiat Monetary Regime

Since 1971, when the Bretton Woods gold exchange standard ended, the world has been on a fiat monetary regime, with various fiat currencies managed according to the discretion of the issuing country.

Inherent in this regime is a basic problem—the ease with which the system lends itself to political manipulation.

This study examines the emerging fiat regime in a world of nation states determined to preserve their sovereignty from erosion by the global economy and places this process in its economic, historical, and political perspective.