The International Monetary Fund [antikvár]

FOREWORD by SIR ROY HARROD It is with great pleasure that I write a foreword to this book by my friend, Mr. Shigeo Horie, President of the Bank of Tokyo, a man of great experience and learning, and of subtle intelligence. From a purely utilitarian point of view I believe that this book will have an important part to play. As a tutor, I have found difficulty in advising adequate and up-to-date reading on the subject of the International Monetary Fund. I am sure that this volume will be welcomed on that account in many universities. Mr. Horie opens with a retrospect of monetary history. There is much originality in his definition and analysis of the nature of the old gold standard system, which was centred upon London, and in the way in which he traces the stages in the decline of that system. He gives a very clear account of the genesis and development of the International Monetary Fund. Japan has now been drawn into closer monetary relations with the western world by its membership of the 'Paris Club' and of the OECD; but until quite recently a Japanese observer necessarily viewed developments in these parts of the world with a certain detachment. This adds substantially to the value of Mr. Horie's work. He is well equipped with a scholarly knowledge of the progress of events. When assessing motives and in giving weight to various happenings, he sometimes makes points that will be novel to many English-speaking readers. Their interest in the book will thereby be kept lively. At the time of writing, intensive study is being made of possibilities of reform in the world's monetary system. It is of interest that Mr. Horie, bringing his finely attuned mind to bear upon the present situation, is of the opinion that what I would describe as a rather far-reaching reform is needed. Thus his book is very timely, ix