Charles Kindleberger, an economic historian, argued that monetary stability needed a hegemon to set the rules. His “hegemonic stability theory” has subsequently been applied to a broader economic canvas and even beyond economics.
It has been argued, for instance, that the instability of the period between the two World Wars was because Britain was in decline and an isolationist America not willing to step forward as the new global boss. Since then, Americans have told themselves and others that the rules-bound global order of the past 75 years was largely their creation. That view ...
TO READ THE FULL STORY, SUBSCRIBE NOW NOW AT JUST Rs
Key stories on business-standard.com are available to premium subscribers only.
Already a premium subscriber? LOGIN NOW
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
Copyrights © 2021 Business Standard Private Ltd. All rights reserved.
RECOMMENDED FOR YOU