Sterling in Decline: The Devaluations of 1931, 1949 and 1967

This is a new edition of Sterling in Decline with a new introduction by Barry Eichengreen. The book traces the decline of sterling from the world’s pre-eminent currency alongside the dollar’s rise to prominence. There are parallels to be drawn with the euro’s emergence as a full-fledged competitor to the dollar for international currency status. The new introduction will bring sterling’s story up to date and draw out the implications for the dollar and the euro.

SIR ALEC CAIRNCROSS was Master of St. Peter’s College, Oxford and held a variety of high positions in postwar Labour Governments.

BARRY EICHENGREEN is George C. Pardee and Helen N. Pardee Professor of Economics and Political Science at the University of California, Berkeley, Research Associate of the National Bureau of Economic Research, and Research Fellow of the Centre for Economic Policy Research.