How America's global financial power was created and shaped through its special relationship with Britain
The rise of global finance in the latter half of the twentieth century has long been understood as one chapter in a larger story about the postwar growth of the United States. The Political Economy of the Special Relationship challenges this popular narrative. Revealing the Anglo-American origins of financial globalization, Jeremy Green sheds new light on Britain's hugely significant, but often overlooked, role in remaking international capitalism alongside America.
Drawing from new archival research, Green questions the conventional view of international economic history as a series of cyclical transitions among hegemonic powers. Instead, he explores the longstanding interactive role of private and public financial institutions in Britain and the United States--most notably the close links between their financial markets, central banks, and monetary and fiscal policies. He shows that America's unparalleled post-WWII financial power was facilitated, and in important ways constrained, by British capitalism, as the United States often had to work with and through British politicians, officials, and bankers to achieve its vision of a liberal economic order. Transatlantic integration and competition spurred the rise of the financial sector, an increased reliance on debt, a global easing of regulation, the ascendance of monetarism, and the transition to neoliberalism.
From the gold standard to the recent global financial crisis and beyond, The Political Economy of the Special Relationship recasts the history of global finance through the prism of Anglo-American development.
Автор: Kassel, Gustav Название: Downfall of the gold standard ISBN: 1138569054 ISBN-13(EAN): 9781138569058 Издательство: Taylor&Francis Рейтинг: Цена: 5205.00 р. Наличие на складе: Поставка под заказ.
Описание: In this book, originally published in 1936, the author charts the sequence of events which converted him from an advocate of the restoration of the gold standard to a convinced opponent. His indictment of the gold standard is comprehensive and he attributes it as the chief cause of the economic difficulties of the 1920s. An invaluable commentary on the monetary instability of these crucial years, this book was written not only for economists and bankers but also for those interested in following the narrative of the most tumultuous events in the history of money.
Автор: Richard T. Griffiths Название: The Netherlands and the Gold Standard, 1931–1936 ISBN: 9071617041 ISBN-13(EAN): 9789071617041 Издательство: Springer Рейтинг: Цена: 12157.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: On 26 September 1936, deep in the night, the Dutch cabinet took the decision to cut the guilder`s link with gold and to devalue its currency.
Описание: Drawing on a wide range of archival sources, this work analyses colonial policies against the background of Anglo-American efforts to reconstruct the interwar international financial system and Britain`s struggle to restore sterling and the City of London to their former pre-eminence.
Описание: Originally published in 1994. This work investigates seasonal fluctuations of US and British short term nominal interest rates, the dollar-sterling exchange rate and short term interest rate differentials between the US and Britain during the period 1883-1913.
Описание: The Making of Modern Finance is a path-breaking study of the construction of liberal financial governance and demonstrates how complex forms of control by the state profoundly transformed the nature of modern finance.
Автор: Puxley, H. L. Название: Critique of the gold standard ISBN: 0815367155 ISBN-13(EAN): 9780815367154 Издательство: Taylor&Francis Рейтинг: Цена: 5358.00 р. Наличие на складе: Поставка под заказ.
Описание: Originally published in 1933 this book discusses the inadequacy of `orthodox Gold Standard theory` in the light of post-war monetary phenomena. The book explains that the Quantity Theory of Money is an inaccurate explanation and that the determining factor in the rise or fall of prices is the Velocity of Circulation.
The American economy is strong in large part because nobody believes that America would ever default on its debt. Yet in 1933, Franklin D. Roosevelt did just that when, in a bid to pull the country out of depression and get people back to work, he depreciated the U.S. dollar in relation to gold and annulled debt contracts retroactively. American Default is the story of this forgotten chapter in America's history.
Sebastian Edwards provides a masterful account of the economic and legal drama that embroiled a nation already reeling from global financial collapse. It began on April 5, 1933, when FDR ordered Americans to sell all their gold holdings to the government. This was followed by the removal of the country from the gold standard, the unilateral and retroactive rewriting of contracts, and the devaluation of the dollar. Anyone who held public and private debt suddenly saw its value reduced by nearly half, and debtors--including the U.S. government--suddenly owed their creditors far less. Revaluing the dollar imposed a hefty loss on investors and savers, many of them middle-class American families. The banks fought back, and a bitter battle for gold ensued. In early 1935, the case went to the Supreme Court. Edwards describes FDR's rancorous clashes with conservative Chief Justice Charles Evans Hughes, a confrontation that threatened to finish the New Deal for good--and that led to FDR's attempt to pack the court in 1937.
At a time when several major economies are on the brink of default or devaluing or recalling currencies, American Default is a timely account of a little-known yet drastic experiment with these policies, the inevitable backlash, and the ultimate result.
