International Finance and National Power

Abstract

International finance strikes most people as a realm of mystery. When even specialists are unable to unravel the tangled web of international money and banking, it is hardly surprising that the rest of us throw up our hands at trying to penetrate these knotty and puzzling subjects. The technical aspects of the international money market are indeed complex, but getting bogged down in the day-to-day details only adds to the confusion. For the basic issues in this area are not so much technical as political: it is crucial to understand that international finance veils a struggle for power and wealth. In the realm of international relations, wealth enhances a nation's power, and power is a means of expanding a nation's wealth.

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