Reform of the international monetary system the Palais royal initiative (SAGE Publications, 2011)
Includes bibliographical references and index
September 2008 saw the United States financial system at the edge of collapse, with the tightly integrated global financial system following close behind. But that was only a symptom of the problems that generated the ensuing crisis. The more fundamental cause lay in some of the practices that had developed in many of the major financial institutions. The emergence of perverse incentives helped create a credit bubble that eventually burst. But even these failures of the financial system, by themselves, would have been unlikely to cause a crisis of the scale that the world confronted. The crisi