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Author: Jonathan Kirshner Publisher: Cornell University Press ISBN: 0801454786 Category : Political Science Languages : en Pages : 201
Book Description
The global financial crisis of 2007–2008 was both an economic catastrophe and a watershed event in world politics. In American Power after the Financial Crisis, Jonathan Kirshner explains how the crisis altered the international balance of power, affecting the patterns and pulse of world politics. The crisis, Kirshner argues, brought about an end to what he identifies as the "second postwar American order" because it undermined the legitimacy of the economic ideas that underpinned that order—especially those that encouraged and even insisted upon uninhibited financial deregulation. The crisis also accelerated two existing trends: the relative erosion of the power and political influence of the United States and the increased political influence of other states, most notably, but not exclusively, China.Looking ahead, Kirshner anticipates a "New Heterogeneity" in thinking about how best to manage domestic and international money and finance. These divergences—such as varying assessments of and reactions to newly visible vulnerabilities in the American economy and changing attitudes about the long-term appeal of the dollar—will offer a bold challenge to the United States and its essentially unchanged disposition toward financial policy and regulation. This New Heterogeneity will contribute to greater discord among nations about how best to manage the global economy. A provocative look at how the 2007–2008 economic collapse diminished U.S. dominance in world politics, American Power after the Financial Crisis suggests that the most significant and lasting impact of the crisis and the Great Recession will be the inability of the United States to enforce its political and economic priorities on an increasingly recalcitrant world.
Author: Jonathan Kirshner Publisher: Cornell University Press ISBN: 0801454786 Category : Political Science Languages : en Pages : 201
Book Description
The global financial crisis of 2007–2008 was both an economic catastrophe and a watershed event in world politics. In American Power after the Financial Crisis, Jonathan Kirshner explains how the crisis altered the international balance of power, affecting the patterns and pulse of world politics. The crisis, Kirshner argues, brought about an end to what he identifies as the "second postwar American order" because it undermined the legitimacy of the economic ideas that underpinned that order—especially those that encouraged and even insisted upon uninhibited financial deregulation. The crisis also accelerated two existing trends: the relative erosion of the power and political influence of the United States and the increased political influence of other states, most notably, but not exclusively, China.Looking ahead, Kirshner anticipates a "New Heterogeneity" in thinking about how best to manage domestic and international money and finance. These divergences—such as varying assessments of and reactions to newly visible vulnerabilities in the American economy and changing attitudes about the long-term appeal of the dollar—will offer a bold challenge to the United States and its essentially unchanged disposition toward financial policy and regulation. This New Heterogeneity will contribute to greater discord among nations about how best to manage the global economy. A provocative look at how the 2007–2008 economic collapse diminished U.S. dominance in world politics, American Power after the Financial Crisis suggests that the most significant and lasting impact of the crisis and the Great Recession will be the inability of the United States to enforce its political and economic priorities on an increasingly recalcitrant world.
Author: Jesse Eisinger Publisher: Simon and Schuster ISBN: 1501121383 Category : Business & Economics Languages : en Pages : 434
Book Description
Winner of the 2018 Excellence in Financial Journalism Award From Pulitzer Prize–winning journalist Jesse Eisinger, “a fast moving, fly-on-the-wall, disheartening look at the deterioration of the Justice Department and the Securities and Exchange Commission…It is a book of superheroes” (San Francisco Review of Books). Why were no bankers put in prison after the financial crisis of 2008? Why do CEOs seem to commit wrongdoing with impunity? The problem goes beyond banks deemed “Too Big to Fail” to almost every large corporation in America—to pharmaceutical companies and auto manufacturers and beyond. The Chickenshit Club—an inside reference to prosecutors too scared of failure and too daunted by legal impediments to do their jobs—explains why in “an absorbing financial history, a monumental work of journalism…a first-rate study of the federal bureaucracy” (Bloomberg Businessweek). Jesse Eisinger begins the story in the 1970s, when the government pioneered the notion that top corporate executives, not just seedy crooks, could commit heinous crimes and go to prison. He brings us to trading desks on Wall Street, to corporate boardrooms and the offices of prosecutors and FBI agents. These revealing looks provide context for the evolution of the Justice Department’s approach to pursuing corporate criminals through the early 2000s and into the Justice Department of today, including the prosecutorial fiascos, corporate lobbying, trial losses, and culture shifts that have stripped the government of the will and ability to prosecute top corporate executives. “Brave and elegant…a fearless reporter…Eisinger’s important and profound book takes no prisoners” (The Washington Post). Exposing one of the most important scandals of our time, The Chickenshit Club provides a clear, detailed explanation as to how our Justice Department has come to avoid, bungle, and mismanage the fight to bring these alleged criminals to justice. “This book is a wakeup call…a chilling read, and a needed one” (NPR.org).
Author: Joseph J. Ellis Publisher: Vintage ISBN: 080417248X Category : History Languages : en Pages : 322
Book Description
NATIONAL BESTSELLER • The Pulitzer Prize–winning author of Founding Brothers tells the unexpected story of America’s second great founding and of the men most responsible—Alexander Hamilton, George Washington, John Jay, and James Madison. Ellis explains of why the thirteen colonies, having just fought off the imposition of a distant centralized governing power, would decide to subordinate themselves anew. These men, with the help of Robert Morris and Gouverneur Morris, shaped the contours of American history by diagnosing the systemic dysfunctions created by the Articles of Confederation, manipulating the political process to force the calling of the Constitutional Convention, conspiring to set the agenda in Philadelphia, orchestrating the debate in the state ratifying conventions, and, finally, drafting the Bill of Rights to assure state compliance with the constitutional settlement, created the new republic. Ellis gives us a dramatic portrait of one of the most crucial and misconstrued periods in American history: the years between the end of the Revolution and the formation of the federal government. The Quartet unmasks a myth, and in its place presents an even more compelling truth—one that lies at the heart of understanding the creation of the United States of America.
Author: Scheherazade S. Rehman Publisher: Springer Science & Business Media ISBN: 9401148643 Category : Business & Economics Languages : en Pages : 352
Book Description
Financial crises have occurred throughout history, resulting in the loss of national and international public and personal wealth, creating political uncertainty and shaking the foundations of the national, regional and international economic and social order. This book provides answers to the basic questions of what could have caused some of the more recent regional financial crises, what their key characteristics were, how they could have been prevented, what lessons national governments, central bankers and the International Monetary Fund (IMF) have learned and how such crises could be prevented in the future. The authors include current and former cabinet members of national governments, central bankers, IMF officials, scholars and practicing economists in both national and multilateral organizations, all of whom have either participated in the management of the various types of financial crises they analyze and discuss and/or have made major contributions to their understanding, including recommendations of how they could be avoided in the future.
Author: Jomo Kwame Sundaram Publisher: Columbia University Press ISBN: 0231527276 Category : Business & Economics Languages : en Pages : 561
Book Description
The 1944 Bretton Woods conference created new institutions for international economic governance. Though flawed, the system led to a golden age in postwar reconstruction, sustained economic growth, job creation, and postcolonial development. Yet financial liberalization since the 1970s has involved deregulation and globalization, which have exacerbated instability, rather than sustained growth. In addition, the failure of Bretton Woods to provide a reserve currency enabled the dollar to fill the void, which has contributed to periodic, massive U.S. trade deficits. Our latest global financial crisis, in which all these weaknesses played a part, underscores how urgently we must reform the international financial system. Prepared for the G24 research program, a consortium of developing countries focused on financial issues, this volume argues that such reforms must be developmental. Chapters review historical trends in global liquidity, financial flows to emerging markets, and the food crisis, identifying the systemic flaws that contributed to the recent downturn. They challenge the effectiveness of recent policy and suggest criteria for regulatory reform, keeping in mind the different circumstances, capacities, and capabilities of various economies. Essays follow ongoing revisions in international banking standards, the improved management of international capital flows, the critical role of the World Trade Organization in liberalizing and globalizing financial services, and the need for international tax cooperation. They also propose new global banking and reserve currency arrangements.
Author: Alfredo Saad-Filho Publisher: Springer Nature ISBN: 3030816087 Category : Business & Economics Languages : en Pages : 246
Book Description
This book offers an analysis of the causes, development, and likely consequences of the Covid-19 pandemic for global neoliberalism. The analysis will draw upon the author’s previous work on neoliberalism, and on its twin crises: the economic crisis (the Global Financial Crisis (GFC), ongoing since 2007) and, subsequently, the crisis of political democracy that has been associated with the rise of ‘spectacular’ authoritarian leaders in several countries. The approach is grounded on Marxist political economy. The book argues that the Covid-19 pandemic emerges out of this context of deep inequalities and crises in the economy and in politics, and it is likely to reinforce the exclusionary tendencies of neoliberalism, with detrimental implications both for economic prosperity and for democracy. In turn, the pandemic has revealed the limitations of neoliberalism like never before, with implications for the legitimacy of capitalism itself, and opening unprecedented spaces for the left. This book will be of interest to academics in economics, international relations, political science, political economy, sociology and development studies.
Author: Robert C. Feenstra Publisher: University of Chicago Press ISBN: 022603089X Category : Business & Economics Languages : en Pages : 433
Book Description
Along with its painful economic costs, the financial crisis of 2008 raised concerns over the future of international policy making. As in recessions past, new policy initiatives emerged, approaches that placed greater importance on protecting national interests than promoting international economic cooperation. Whether in fiscal or monetary policies, the control of currencies and capital flows, the regulation of finance, or the implementation of protectionist policies and barriers to trade, there has been an almost worldwide trend toward the prioritizing of national economic security. But what are the underlying economic causes of this trend, and what can economic research reveal about the possible consequences? Prompted by these questions, Robert C. Feenstra and Alan M. Taylor have brought together top researchers with policy makers and practitioners whose contributions consider the ways in which the global economic order might address the challenges of globalization that have arisen over the last two decades and that have been intensified by the recent crisis. Chapters in this volume consider the critical linkages between issues, including exchange rates, global imbalances, and financial regulation, and plumb the political and economic outcomes of past policies for what they might tell us about the future of the global economic cooperation.
Author: Patrick Honohan Publisher: World Bank Publications ISBN: 0821369105 Category : Business & Economics Languages : en Pages : 264
Book Description
Drawing on its extensive experience in helping restructure and reform financial systems, the World Bank examines the state of African domestic financial systems in a global comparison. It identifies promising trends as well as pinpointing the major shortcomings that are observed across sub-Saharan Africa. Policy recommendations distinguish between those designed to make finance a more effective driver of economic growth and those designed to give low income, small-scale and other excluded groups better access to financial services.
Author: Jonathan Kirshner
Author: Jonathan Kirshner
Author: Andrew Crockett
Author: Jesse Eisinger
Author: 
Author: Joseph J. Ellis
Author: Scheherazade S. Rehman
Author: Jomo Kwame Sundaram
Author: Alfredo Saad-Filho
Author: Robert C. Feenstra
Author: Patrick Honohan