Book about the loonie wins $35,000 Donner Prize

Eric Helleiner of Waterloo, Ont., has won the $35,000 Donner Prize for his book about why Canada is unlikely ever to abandon the loonie.

Eric Helleiner of Waterloo, Ont.,has won the $35,000 Donner Prize for his book about why Canada is unlikely ever to abandon the loonie.

Towards North American Monetary Union? The Politics and History of Canada's Exchange Rate Regime was awarded the Donner Prize forthe best book of the year on Canadian public policy.

Helleiner was presented with the prize by the Donner Canadian Foundation at an awards dinner Wednesday at the Carlu in Toronto.

The book examines Canada's monetary policy since 1850, and analyses why Canada has always found it advantageous to have its own currency. Helleiner also considers political factors that would prevent the U.S. from moving towards monetary union with Canada.

"Helleiner successfully combines a clear understanding of the issues, with a strong analytical ability that illuminates the political and historical context of the time," said jury chair Grant Reuber.

"He brings to his subject an unusual degree of understanding of both economics and politics."

Helleiner is chair of international public policy at the Centre for International Governance Innovation at the University of Waterloo and author of States and the Re-emergence of Global Finance.

The other finalists for the annual award were:

  • Dreamland: How Canada's Pretend Foreign Policy Has Undermined Sovereignty by Roy Rempel.
  • Visiting Grandchildren: Economic Development in the Maritimes by Donald J. Savoie.