Political economists have gradually begun to question the assumption that globalization and international capital mobility are forcing a convergence of international monetary policies. ""Monetary Divergence"" analyzes fiscal, monetary and exchange rate policy, demonstrating why the convergence thesis is overstated and misleading, and explaining how the evidence actually contradicts it. This important new book explains partisan economic differences in the capitalist global economy, and offers a novel explanation for the observed gap between governments' exchange rates.