The Reserve-Currency Curse

Since 1971 the world has suffered two great inflations and three recessions. Hopes for a world-wide economic expansion have been interrupted once again, by an economic slowdown and the threat of a trade war. Will the world ever settle down to sustained noninflationary growth?

Unfortunately, no-not unless a basic flaw in the world monetary system is corrected. Each succeeding crisis is a different symptom of the same disorder. Each succeeding crisis is a different symptom of the same disorder.

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Kathleen M. Packard, Publisher
Ralph J. Benko, Editor

In Memoriam
Professor Jacques Rueff
(1896-1978)

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