J RG BIBOW is Assistant Professor of Economics at Skidmore College, New York, USA. He holds a PhD in Economics from the University of Cambridge, UK. Previously he held lecturing positions at the University of Cambridge, Hamburg University, and at Franklin College Switzerland. He is a Research Associate at the Levy Economics Institute, New York. He is the author of numerous articles and co-authored volumes published in Europe and the US on European integration, central banking, financial systems, and the history of economic thought. ANDREA TERZI is Professor of Economics, Franklin Colleg