Prof Harold James examines the historical contexts of debates about whether the creation of money depended on a state, the arguments presented by both the intellectual giants of the mid-twentieth century - Keynes and Hayek - for a non-state money, as well as the problems for the European Union in implementing the idea of a non-state money.
Harold James is Claude and Lore Kelly Professor of European Studies and Professor of History and International Affairs; Director of Program in Contemporary European Politics and Society at Princeton University.
Paul de Grauwe is John Paulson Chair in European Political Economy at the LSE European Institute.
The LSE European Institute (@LSEEI) was established in 1991 as a dedicated centre for the interdisciplinary study of processes of integration and fragmentation within Europe. In the most recent national Research Excellence Framework (REF 2014) the Institute was ranked first for research in its sector. The LSE European Institute has been a Jean Monnet Centre of Excellence since 2009.