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Monetary Systems in an International Context

Episode Summary

Monetary policy in a globally connected world means policymaking in a single country has far-reaching ramifications. We discuss some of the nuances of monetary policy from a global perspective.

Episode Notes

With global commerce and finance continuing to digitize, the world’s borders are seemingly becoming more fluid, even as physical walls are built. How does this globalization affect the sovereignty of nation-states and their ability to democratically direct their own economic future?

In a panel moderated by Epicenter host, Sunny Aggarwal, we explore the interpretation of monetary policy from a global context, discuss the morality of impacting other nations, and the potential for new technologies to offer alternatives in a dollar-dominated world. The conversation includes Jae Kwon, CEO of Tendermint; John P Conley, Professor at Vanderbilt University; Steve Randy Waldman, Author of Interfluidity, and Baek Kim, Senior Associate at Hashed.

Topics covered in this episode:

• A moral perspective on making monetary policy that is beneficial to one nation, and detrimental to another
• Who matters when determining externalities in governmental policies
• The possibility of a fiscal union without a monetary one
• USD stablecoins promoting the notion that the US should control the world’s monetary policy
• Comparing the Libra to the Euro

Episode links:

• Dani Rodrik's Blog: The inescapable trilemma of the world economy
• Euro and Rodrik's Trilemma
• Interfluidity Blog - Steve Randy Waldman
• John Conley Macro WTF Talk
• Steve Randy Waldman Macro WTF Talk
• Jae Kwon | Twitter
• Steve Randy Waldman | Twitter
• John P Conley | Twitter
• John P. Conley Personal Website

Sponsors:

• Pepo: Meet the people shaping the crypto movement - https://pepo.com/epicenter

This episode is hosted by Sunny Aggarwal. Show notes and listening options: epicenter.tv/320