Nicholas Kaldor's contribution to the analysis of international monetary reform

Abstract

This article assumes that the significance of Nicholas Kaldor's proposals for international monetary reform--first made in the early 1960s--lies not so much in the detailed schemes themselves, but in the agenda of objectives that he puts forward, an agenda which seems particularly relevant in the 1980s. It elaborates further on the sources on which Kaldor based his analysis of the international system, and describes and analyzes Kaldor's proposal for an international commodity reserve currency, as well as mentioning his contribution to the setting up of compensatory financing schemes. It concludes with an evaluation of Kaldor's contribution in the field. Copyright 1989 by Oxford University Press.