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Shades of Sovereignty - Money and the Making of the State (Hardcover)
Loot Price: R2,831
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Shades of Sovereignty - Money and the Making of the State (Hardcover)
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This comprehensive book traces the role of money in the creation of
the state. Starting in the early modern era, Paul Wilson explores
the monetary systems of empires and new states in the age of
nation-building in the eighteenth and nineteenth century. Spanning
a wide geographical and historical range from the creation of the
United States of America to the establishment of the European Union
and the breakup of the Soviet Union and beyond, the author examines
changing attitudes toward monetary sovereignty as dozens of new
states created new currencies since the end of the Second World
War. Wilson analyzes the decision-making of newly independent
states in their choice of an appropriate currency, considering the
complex factors involved-ranging from the purely economic to
questions of security, international recognition, and outright
nationalism that have played a part. The author challenges the
notion that each country must necessarily have its own currency and
explains why some newly independent countries have chosen to adopt
the currency of another state. Citing the examples of international
currency unions of the nineteenth century and the present day, he
contends that sharing a currency does not represent a surrender of
political sovereignty. Instead, Wilson argues for a more rational
attitude toward money as a facilitator of transactions rather than
as a symbol of national identity.
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