Steven Kettell analyzes the development of exchange rate
policymaking from a Marxist perspective. He examines and provides a
new means of understanding three key policymaking episodes in
Britain - the return to the gold standard in 1925, membership of
the European Exchange Rate Mechanism from 1990-1992 and the
possibility of joining the Single European Currency. The
alternative means of understanding these policy episodes provides a
basis for making wider generalizations about the political economy
of exchange rate policymaking.
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