Chapter 11

Near the end of chapter eleven Wheelan states that "the goal of global economic policy should be to make it easier for nations to cooperate with one another." This seems straightforward yet the rest of the chapter covers how complex state of the global economy. It has become evident that the gold standard is a bad idea as it proved disastrous during the Great Depression. Before reading this chapter I did not have a good grasp of what the effects of a currencies strength are; it seems counterintuitive at first but a stronger currency doesn't necessarily mean the economy is strong, as was seen in Argentina when the peso, tied to the dollar, remained strong while the Argentinian economy languished. We don't have a perfect global economic policy that works to make cooperation seamless, but we can keep working to improve the state of global economic relations.