The World Economy in Transition brings together thoughts, arguments and analyses by some of the world's leading economists on domestic and international monetary issues of foremost current concern.This major book features contributions from outstanding scholars including three Nobel laureates in economics - Paul Samuelson, Robert Solow and James Tobin. The topics discussed include international and monetary aspects of unemployment, economic policy dilemmas in the United States, the economic downturn in Japan, European monetary union, the former communist countries, and a fresh look at the international monetary system. This volume is based on a lightly edited tape recording of their lively and active debate over a two day period. The editor's introduction has been written to provide useful background for all readers.Although of particular interest to specialists in international monetary economics, The World Economy in Transition is intended for a wide readership including non-specialists, undergraduates and graduate students who will find it an accessible and thought-provoking contribution to their understanding of real-world problems in economics.