As will be apparent, the style is that not of an ‘introduction’, but of a semi-philological, semi-philosophical discussion
The key role played by this new international central bank – the ICU – would be to manage flows of money between states, and to use a new currency, bancor, as the relevant currency. (In other words, a neutral currency, not the currency of one imperial power.)
Capital controls are taxes, and differ from exchange controls. The latter place limits on the amount of a nation’s currency that can be taken abroad. Instead, the financial transaction tax or Tobin tax is a form of capital control, a tax on and ‘sand in the wheels’ of capital flows.
idk if she adequately clarified the diff tbh (seems like it's a case of limits vs taxes, which is not what the italicizing implies)
Somewhat belatedly, the IMF in 2016 echoed the views of Professors Rey and Bhagwati outlined above, and issued a partial mea culpa in a paper titled ‘Neoliberalism: Oversold?’ [...]
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None of this is news to the victims of neoliberal economic policies in many poor, heavily indebted countr…
Keynes’s great contribution to monetary theory, and to the policies of his time, was based on his refutation of an important element of classical economic theory. He argued that the rate of interest was the cause, not as orthodox economists argued the passive consequence, of the level of econom…
