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The dreams of "leaving it up to the market" or of returning to a politically neutral gold standard cannot succeed because the nature of the monetary … - Robert Gilpin
" "The dreams of "leaving it up to the market" or of returning to a politically neutral gold standard cannot succeed because the nature of the monetary system has a profound impact on the interests of powerful groups and states. Affected groups and states will always try to intervene in the operation of the system to make it serve their interests.
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About Robert Gilpin
Robert Gilpin (July 2, 1930 – June 20, 2018) was an American economist, and Professor Emeritus of Politics and International Affairs at the at , known for his contribution in the field of political economy and international relations, especially the effect of multinational corporations on state autonomy.
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Additional quotes by Robert Gilpin
Powerful groups set constraints on and may even determine the actions of state authority. They constitute the society that is protected by the state; their particular concept of justice reigns. The definition and functioning of property rights tend to advance their interest and welfare. ...the basic domestic function of the state is to define and protect property rights of individuals and groups. ...The primary external function of the state is to protect the property rights and personal security of its members vis-à-vis the citizens and actions of other states.
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