Global Monetary Order and the Liberal Order Debate

Carla Norrlof, Paul Poast, Benjamin J. Cohen, Sabreena Croteau, Aashna Khanna, Daniel McDowell, Hongying Wang, W. Kindred Winecoff

Research output: Contribution to journalArticle

1 Scopus citations

Abstract

The recent "liberal international order" (LIO) debate has been vague about the institutions and issue areas that constitute the order. This is likely driven by competing views of "liberal" and, perhaps more importantly, by security scholars dominating the debate. From the perspective of scholars who explore the elements of the global monetary order (reserve currencies, international financial institutions, and central banks), the picture is different. Where security scholars point to a decline in US influence, scholars of global monetary politics see continued US dominance. Moreover, monetary prominence has been a precondition for the viability of great power projects of order building more generally. This symposium offers such a counter narrative. While the security challenges are real, the crises of the last decade have actually reinforced the centrality of the US dollar and American financial power in the international system.

Original languageEnglish (US)
Pages (from-to)109-153
Number of pages45
JournalInternational Studies Perspectives
Volume21
Issue number2
DOIs
StatePublished - May 1 2020

Keywords

  • hegemony
  • international political economy
  • liberal international order
  • politics of money

ASJC Scopus subject areas

  • Geography, Planning and Development
  • Political Science and International Relations

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    Norrlof, C., Poast, P., Cohen, B. J., Croteau, S., Khanna, A., McDowell, D., Wang, H., & Winecoff, W. K. (2020). Global Monetary Order and the Liberal Order Debate. International Studies Perspectives, 21(2), 109-153. https://doi.org/10.1093/isp/ekaa001