Ethics of the International Monetary Systems

Ethics of the International Monetary Systems follows the attempts to establish a form of control over international monetary systems from the Gold Standard system to the floating exchange rates of today. Since the inception of these systems, economists have criticized them as fundamentally unfair to countries that have not adopted the strict market rigors of Western-style capitalism. Samuel Sarri presents an ethical approach to evaluating the history of economic theory. Then he puts forth a new approach to international monetary systems that involves grouping similar countries and cultures in trading blocs called "regional competitive cooperatives" that fairly compete with one another, while boosting global development and respecting heterogeneous, regional value-systems and axiologies. He uses the successes of International Free Trade Agreements and the monetary union of Europe as a guide. Sarri's system aspires to achieve the classical ideals of global financial and monetary harmony. It takes into account the idea of multipolar power sharing, the economic outlooks, the diverse ethical views, the metaphysical and religious systems, histories, and cultures of the parts that compose the economic and political planetary whole.