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United States as a Monetary Union: A Lesson for Europę?

100%
Dadak K.
Krakowskie Studia Międzynarodowe
|
2008
|
issue 1
279-294
EN
The United States had not introduced a single currency until 1879, and had not established the central bank before 1913. At that time, both wages and prices were highly flexible, and therefore there was no need for resorting to currency exchange rates and monetary policy for dampening demand-side asymmetric shocks. On the other hand, the European Monetary Union (EMU) was set up at the moment when the situation was just the opposite, with rigid wages and prices, and liquid currency exchange rates and flexible monetary policy provide the main weapon in fighting recession. Moreover, economic research has proved that the Eurozone fails to meet the requirements necessary to accept a single currency (optimum currency area), and is therefore susceptible to demand-side asymmetric shocks(affecting only selected areas). For that reason, establishment of a single currency for a large group of countries and transferring control over monetary policy to a supra-national institution deprived all members of the group of efficient tools for combating asymmetric economic shocks. It is not a coincidence therefore that since the Treaty of Maastricht, the pace of economic growth in the Eurozone remained markedly below the American GNP growth dynamics. This in turn caused a significant growth of unemployment in Europe, while in the US the number of the unemployed dropped considerably. Unfortunately, the long-term forecasts bring no grounds for optimism: a reason why the success of the EMU remains an open question.
2
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Donald Trump and the China Challenge

100%
Dadak K.
Krakowskie Studia Międzynarodowe
|
2019
|
issue 3
75-93
EN
Donald Trump, as a presidential candidate, made public what many observers thought in private – since the collapse of the Soviet Union, China has become the biggest threat to the unipolar world, the one dominated by the United States. This paper analyses factors that may determine the outcome of this battle, in particular their relative economic strength. This element is vital during times of peaceful competition and, as such, determines current politics and most likely will define the current struggle for world dominance. We also review the protagonists’ defense spending and their relative positions in the military sphere..
PL
Donald Trump jako kandydat na prezydenta publicznie głosił to, o czym wielu obserwatorów myślało po cichu: od czasu upadku Związku Radzieckiego Chiny stały się największym zagrożeniem dla jednobiegunowego świata zdominowanego przez Stany Zjednoczone. Niniejszy artykuł analizuje czynniki, które mogą mieć decydujący wpływ na wynik tych zmagań, szczególnie na względną potęgę gospodarczą adwersarzy. W czasach pokoju jest to niesłychanie istotny czynnik i jako taki ma wielki wpływ na bieżące posunięcia w dziedzinie polityki. Jest wielce prawdopodobne, że będzie on równie ważny w obecnych zmaganiach o dominację na świecie. Opracowanie dokonuje przeglądu poziomu wydatków na zbrojenia i względnej siły wojskowej obu państw.
3
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The United States at a Crossroads

63%
Dadak C. S., Dadak K.
Krakowskie Studia Międzynarodowe
|
2013
|
issue 1
153-165
PL
Analiza współczesnego kryzysu ekonomicznego w kontekście szeroko pojętej wojny kultur. Autorzy ukazują, w jaki sposób procesy ekonomiczne są zależne od głębokich zjawisk kulturowych.
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