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[Review] Globalizing Capital (Barry Eichengreen) Summarized.
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Globalizing Capital: A History of the International Monetary System is a concise historical and analytical study of how international monetary arrangements have evolved from the nineteenth-century gold standard to the more fluid exchange-rate world of the present. Written by economist Barry Eichengreen, the book is not a technical policy manual but a broad interpretive history of global monetary regimes, their political constraints, and their links to capital mobility. Its central purpose is to explain why fixed exchange-rate systems have repeatedly succeeded for a time, then broken down when domestic political pressures, capital flows, and international cooperation collided. The third edition updates the original framework with later developments such as the euro, Asian financial crises, and the growing debate over the dollar’s future. Because it combines economic history, political economy, and institutional analysis, the book serves both specialists and general readers who want to understand why international money is governed so unevenly across different eras.
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