Sometimes monetary policy and federalism
can interact in interesting ways. To grasp a particular relation, such as that
of Romania in the European Union, it is first necessary to keep in mind that
monetary policy is not federalism and vice versa. An anti-federalist, for
example, might have an incentive to conflate the two concepts out of a desire
to deny the existence of a federal system already underway.
The complete essay is at Essays on Two Federal Empires, available at Amazon.
The complete essay is at Essays on Two Federal Empires, available at Amazon.
Romanian currency. Source: banknotes.com