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  Contradictions and Dynamics of Global Quasi-State Money: Triffin Reloaded

Schwartz, H. M. (2023). Contradictions and Dynamics of Global Quasi-State Money: Triffin Reloaded. Talk presented at Scholar in Residence Lecture. Köln. 2023-06-20.

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Item Permalink: https://hdl.handle.net/21.11116/0000-000D-7FCB-1 Version Permalink: https://hdl.handle.net/21.11116/0000-000D-7FCC-0
Genre: Talk

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https://vimeo.com/846936326 (Supplementary material)
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Complete lecture recording
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 Creators:
Schwartz, Herman Mark1, 2, Author           
Affiliations:
1Projekte von Gastwissenschaftlern und Postdoc-Stipendiaten, MPI for the Study of Societies, Max Planck Society, ou_1214554              
2University of Virginia, Charlottesville, USA, ou_persistent22              

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 Abstract: Monetary systems are inherently unstable because the nominal value of assets fluctuates but the nominal value of debt does not and banks have an incentive to expand credit past the point where debtors can service their debt. The global monetary system is even more unstable because global use of a national currency for denominating credit/debt generates additional contradictions. This lecture walks through six contradictions or antinomies, expanding on and updating the original contradiction Robert Triffin identified between adequate trade liquidity and confidence in the redemption of dollars for gold. This lecture also contains a brief contrast of how these contradictions operated differently in the sterling and dollar eras.
Scholar in Residence Lecture Part 2

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Language(s): eng - English
 Dates: 2023-06-20
 Publication Status: Published online
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Title: Scholar in Residence Lecture
Place of Event: Köln
Start-/End Date: 2023-06-20

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Title: Scholar in Residence Lecture Series
Source Genre: Series
 Creator(s):
MPI for the Study of Societies, Max Planck Society, Editor              
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