IF economists could measure the need for reserves, they might be able to agree on the right way to reform the international monetary system. Most of the economists who propose drastic reform do so because they anticipate a shortage of reserves; some even believe that the shortage is upon us. Those who advocate more gradual change believe that reserves are adequate now and for the next several years; some even believe that reserves are excessive. Unfortunately, there is no way to measure the adequacy of reservesnot even to make historical comparisons. Scitovsky's comments illustrate several of the problems involved in appraising the global stock of reserves: