Globalization without Global Money: The Double Role of the Dollar as National Currency and World Currency

@article{Schulmeister2000GlobalizationWG,
  title={Globalization without Global Money: The Double Role of the Dollar as National Currency and World Currency},
  author={S. Schulmeister},
  journal={Journal of Post Keynesian Economics},
  year={2000},
  volume={22},
  pages={365 - 395}
}
Globalization of markets and enterprises has characterized postwar economic development. As a consequence, national economies have become increasingly interdependent in a process toward a supranational closed system, the world economy. However, the globalization of markets and enterprises has not been paralleled by globalization of the monetary system - that is, by a transition from using national currencies to the creation of a supranational currency. 
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