The Power of Money

by Armand Dormael

Overview

The global marketplace is thriving; trillions of dollars trade hands each business day. And yet the way money works is shrouded in mystery for the majority of us. Who controls money? What governs the way money is handled?
In the 1950s, the nature of international banking changed through the creation of the Euromarket. The Power of Money tells the story of this development from the Bretton Woods system to the floating rates of the Euromarket.
In his explanation of the rise of the Eurodollar, Armand Van Dormael carefully considers the events of history during the twentieth century. The Treaty of Versailles, the Stock Market crash of 1929, America's growing role in European affairs, and the establishment of the European Monetary System are just a few of the issues addressed in this book. These events are presented from an economic perspective.
Van Dormael analyzes the current economic situation of the Eurodollar and its effect on the rest of the world, and discusses the history of the Euromarket in light of today's economic environment.

Product Details

ISBN-13:	9780814787915
Publisher:	New York University Press
Publication date:	02/01/1997
Pages:	176
Product dimensions:	6.00(w) x 9.00(h) x 0.84(d)

About the Author

Armand Van Dormael is the author of Bretton Woods: Birth of a Monetary System and has spent 25 years with Sears, Roebuck in the field of international trade.

Editorial Reviews

Explores who controls money, what governs how it is handled, and its role in the modern economic system. Begins with the first major of victory of credit over cash in the 16th century, then narrates such landmarks as John Morgan establishing the primacy of finance over industry, the failure of the 1944 UN Monetary Conference, the beginning of global banking in the 1960s, the rise of the Eurodollar, and what may be in store for the first generation that knows it will be less well off than their parents. Annotation c. by Book News, Inc., Portland, Or.

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