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Federalism

A Political Theory for Our Time

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Lucio Levi, Giampiero Bordino and Antonio Mosconi

This volume is a collection of essays published between 1999 and 2015 in the review The Federalist Debate. The book highlights the issue of federalism intended as a theoretical paradigm to interpret the major problems of our age, and in particular the issues of peace and war in a world characterized by an uncontrolled globalization.

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The World Supremacy of the Dollar at the Rendering (1917-2008)

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Antonio MOSCONI

The “double entry” accounting system by Luca Pacioli1, that of the “patrimonial system”, (before the “revenue accounting system” began to give to the most talented accountants, to the most refined mathematicians and to the most clever financiers the possibility to let the destruction of assets pass for creation of profits), has finally rendered its arithmetic verdict on the end of the world supremacy of the dollar, which lasted for ninety years. Committed for trial for fraudulent bankruptcy. Waiting for the markets and the Courts to emit their respective judgements, it can be useful to go back over this currency in its two lives: currency of a creditor powerful country from the Twenties to the Sixties, currency of an “empire of debt”2 from the Seventies up to now.

Three different Keynes allowed us to preview its evolution: the young officer of the English Treasury, who in 1919 resigned from the financial delegation at the peace table in protest against the reparations imposed on Germany3; the aged professor who, in 1936, introduced in the economic science expressions as animal spirits, state of expectations, liquidity traps and other strange things corresponding to observable real behaviours and able to give theoretical explanations to the experience of massive and long lasting unemployment4; finally, the plenipotentiary who at Bretton Woods in 1944, old and sick, was defeated, together with the British Empire, in his extreme attempt to avoid, with his bancor, the predominance of the dollar5. In...

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