Appeasing Bankers

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Appeasing Bankers

Author : Jonathan Kirshner
Publisher : Princeton University Press
Page : 246 pages
File Size : 49,8 Mb
Release : 2018-06-05
Category : Political Science
ISBN : 9780691186252

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Appeasing Bankers by Jonathan Kirshner Pdf

In Appeasing Bankers, Jonathan Kirshner shows that bankers dread war--an aversion rooted in pragmatism, not idealism. "Sound money, not war" is hardly a pacifist rallying cry. The financial world values economic stability above all else, and crises and war threaten that stability. States that pursue appeasement when assertiveness--or even conflict--is warranted, Kirshner demonstrates, are often appeasing their own bankers. And these realities are increasingly shaping state strategy in a world of global financial markets. Yet the role of these financial preferences in world politics has been widely misunderstood and underappreciated. Liberal scholars have tended to lump finance together with other commercial groups; theorists of imperialism (including, most famously, Lenin) have misunderstood the preferences of finance; and realist scholars have failed to appreciate how the national interest, and proposals to advance it, are debated and contested by actors within societies. Finance's interest in peace is both pronounced and predictable, regardless of time or place. Bankers, Kirshner shows, have even opposed assertive foreign policies when caution seems to go against their nation's interest (as in interwar France) or their own long-term political interest (as during the Falklands crisis, when British bankers failed to support their ally Margaret Thatcher). Examining these and other cases, including the Spanish-American War, interwar Japan, and the United States during the Cold War, Appeasing Bankers shows that, when faced with the prospect of war or international political crisis, national financial communities favor caution and demonstrate a marked aversion to war.

Defeat and Division

Author : Douglas Porch
Publisher : Cambridge University Press
Page : 745 pages
File Size : 52,8 Mb
Release : 2022-08-25
Category : History
ISBN : 9781107047464

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Defeat and Division by Douglas Porch Pdf

A definitive new history of the France at war from the war's outbreak to the invasion of North Africa in late 1942.

Trade Wars

Author : Nils Ole Oermann,Hans-Jürgen Wolff
Publisher : Oxford University Press
Page : 337 pages
File Size : 54,7 Mb
Release : 2022-11-03
Category : Political Science
ISBN : 9780192665331

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Trade Wars by Nils Ole Oermann,Hans-Jürgen Wolff Pdf

This book explores the causes and instruments of 500 years of armed and non-armed international trade conflicts. Nils Ole Oermann and Hans-Jürgen Wolff draw on decades of experience to examine trade wars, economic sanctions, and different types of economic warfare, investigating their history, ethics, economic driving forces, and legality under current rules. They provide a clear and accessible account of the economics of trade, of trade and financial policy since the nineteenth century, and of the effectiveness of sanctions and the 'winnability' of trade wars. The book also describes the transformation of economic warfare since 1989, namely in cyberspace and in the world financial system, and shows how China's rise challenges the Western model of democracy and free market economies. The authors conclude with a plea for improved economic statecraft and an overhaul of the current trading regime.

Austerity

Author : Mark Blyth
Publisher : Oxford University Press
Page : 305 pages
File Size : 54,6 Mb
Release : 2015
Category : Business & Economics
ISBN : 9780199389445

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Austerity by Mark Blyth Pdf

Selected as a Financial Times Best Book of 2013 Governments today in both Europe and the United States have succeeded in casting government spending as reckless wastefulness that has made the economy worse. In contrast, they have advanced a policy of draconian budget cuts--austerity--to solve the financial crisis. We are told that we have all lived beyond our means and now need to tighten our belts. This view conveniently forgets where all that debt came from. Not from an orgy of government spending, but as the direct result of bailing out, recapitalizing, and adding liquidity to the broken banking system. Through these actions private debt was rechristened as government debt while those responsible for generating it walked away scot free, placing the blame on the state, and the burden on the taxpayer. That burden now takes the form of a global turn to austerity, the policy of reducing domestic wages and prices to restore competitiveness and balance the budget. The problem, according to political economist Mark Blyth, is that austerity is a very dangerous idea. First of all, it doesn't work. As the past four years and countless historical examples from the last 100 years show, while it makes sense for any one state to try and cut its way to growth, it simply cannot work when all states try it simultaneously: all we do is shrink the economy. In the worst case, austerity policies worsened the Great Depression and created the conditions for seizures of power by the forces responsible for the Second World War: the Nazis and the Japanese military establishment. As Blyth amply demonstrates, the arguments for austerity are tenuous and the evidence thin. Rather than expanding growth and opportunity, the repeated revival of this dead economic idea has almost always led to low growth along with increases in wealth and income inequality. Austerity demolishes the conventional wisdom, marshaling an army of facts to demand that we austerity for what it is, and what it costs us.

Central Banking, Monetary Policy and Social Responsibility

Author : Vallet, Guillaume,Kappes, Sylvio,Rochon, Louis-Philippe
Publisher : Edward Elgar Publishing
Page : 243 pages
File Size : 43,6 Mb
Release : 2022-08-18
Category : Business & Economics
ISBN : 9781800372238

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Central Banking, Monetary Policy and Social Responsibility by Vallet, Guillaume,Kappes, Sylvio,Rochon, Louis-Philippe Pdf

Part of The Elgar Series on Central Banking and Monetary Policy, this book explores the relationship between central banking, monetary policy and the economy at large. It focuses on the specific relationship between central banking, monetary policy and social responsibility as central banks wake up to new realities

Central Banking in a Democracy

Author : John H. Wood
Publisher : Routledge
Page : 288 pages
File Size : 52,9 Mb
Release : 2014-10-17
Category : Business & Economics
ISBN : 9781317704317

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Central Banking in a Democracy by John H. Wood Pdf

The Federal Reserve System, which has been Congress’s agent for the control of money since 1913, has a mixed reputation. Its errors have been huge. It was the principal cause of the Great Depression of the 1930s and the inflation of the 1970s, and participated in the massive bailouts of financial institutions at taxpayers' expense during the recent Great Recession. This book is a study of the causes of the Fed’s errors, with lessons for an improved monetary authority, beginning with an examination of the history of central banks, in which it is found that their performance depended on their incentives, as is to be expected of economic agents. An implication of these findings is that the Fed’s failings must be traced to its institutional independence, particularly of the public welfare. Consequently, its policies have been dictated by special interests: financial institutions who desire public support without meaningful regulation, as well as presidents and those portions of Congress desiring growing government financed by inflation. Monetary stability (which used to be thought the primary purpose of central banks) requires responsibility, meaning punishment for failure, instead of a remote and irresponsible (to the public) agency such as the Fed. It requires either private money motivated by profit or Congress disciplined by the electoral system as before 1913. Change involving the least disturbance to the system suggests the latter.

Banking on Markets

Author : Rachel A. Epstein
Publisher : Oxford University Press
Page : 231 pages
File Size : 50,8 Mb
Release : 2017
Category : Business & Economics
ISBN : 9780198809968

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Banking on Markets by Rachel A. Epstein Pdf

States and banks have traditionally maintained close ties. At various points in time, states have used banks to manage their economies and soak up government debt, while banks enjoyed regulatory forbearance, restricted competition, and implicit or explicit guarantees from their home markets. The political foundations of banks have thus been powerful and enduring, with actors on both sides of the aisle reluctant to sever relations. The central argument of this book, however, is that in the world's largest integrated market, Europe, the traditional political ties between states and banks have been transformed. Specifically, through a combination of post-communist transition, monetary union, and economic crisis, states in Europe no longer wield preponderant influence over their banks. Banking on Markets explains why we have witnessed the radical denationalization of this politically vital sector, as well as the consequences for economic volatility and policy autonomy. The findings in Europe have implications for other world regions, which, to varying degrees, have also experienced intensified pressure on their traditional models of domestic political control over finance. Through an investigation of foreign bank behavior in economic crises, the developmental consequences of political control over banks and the emergence of European Banking Union in the Eurozone, the book advances three main findings. First is that foreign bank ownership need not necessarily lead to economic vulnerability of host states. Second is that marketized bank-state ties do, however, limit pathways to catching up in the global economy. And third is that European Banking Union has strengthened the euro's credibility while cutting down substantially on Eurozone member states' economic policy discretion. This book details the intense political struggles that have underpinned all three outcomes.

Research Handbook on Central Banking

Author : Peter Conti-Brown,Rosa Maria Lastra
Publisher : Edward Elgar Publishing
Page : 592 pages
File Size : 40,5 Mb
Release : 2018
Category : Electronic
ISBN : 9781784719227

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Research Handbook on Central Banking by Peter Conti-Brown,Rosa Maria Lastra Pdf

Central banks occupy a unique space in their national governments and in the global economy. The study of central banking however, has too often been dominated by an abstract theoretical approach that fails to grasp central banks’ institutional nuances. This comprehensive and insightful Handbook, takes a wider angle on central banks and central banking, focusing on the institutions of central banking. By 'institutions', Peter Conti-Brown and Rosa Lastra refer to the laws, traditions, norms, and rules used to structure central bank organisations. The Research Handbook on Central Banking’s institutional approach is one of the most interdisciplinary efforts to consider its topic, and includes chapters from leading and rising central bankers, economists, lawyers, legal scholars, political scientists, historians, and others.

An Unwritten Future

Author : Jonathan Kirshner
Publisher : Princeton University Press
Page : 336 pages
File Size : 45,6 Mb
Release : 2024-08-20
Category : Political Science
ISBN : 9780691239217

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An Unwritten Future by Jonathan Kirshner Pdf

An argument for the classical realist approach to world politics An Unwritten Future offers a fresh reassessment of classical realism, an enduring approach to understanding crucial events in the international political arena. Jonathan Kirshner identifies the fundamental flaws of classical realism’s would-be successors and shows how this older, more nuanced and sophisticated method for studying world politics better explains the formative events of the past. Kirshner also reveals how this approach is ideally equipped to comprehend the vital questions of the present—such as the implications of China’s rise, the ways that social and economic change alter the balance of power and the nature of international conflict, and the consequences of the end of the US-led postwar order for the future of world politics. Laying out realism’s core principles, Kirshner discusses the contributions of the perspective’s key thinkers, including Thucydides, Hans Morgenthau, and Raymond Aron, among others. He illustrates how a classical realist approach gives new insights into major upheavals of the twentieth century, such as Britain’s appeasement of Nazi Germany and America’s ruinous involvement in Vietnam. Kirshner also addresses realism’s limits and explores contemporary issues, including the ascent of great power challengers, the political implications of globalization, and the diffusion of power in modern world politics. A reexamination of the realist tradition, with a renewed emphasis on the crucial roles played by uncertainty, contingency, and contestation, An Unwritten Future demonstrates how a once-popular school of thought provides invaluable insights into pressing real-world problems.

The Economics of War

Author : Imad A. Moosa
Publisher : Edward Elgar Publishing
Page : 240 pages
File Size : 47,8 Mb
Release : 2019-12-27
Category : Political Science
ISBN : 9781788978521

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The Economics of War by Imad A. Moosa Pdf

Bad things occur and persist because of the presence of powerful beneficiaries. In this provocative and illuminating book, Imad Moosa illustrates the economic motivations behind the last 100 years of international conflict, citing the numerous powerful individual and corporate war profiteers that benefit from war.

Making a Killing

Author : Ian Michael Oxnevad
Publisher : McGill-Queen's Press - MQUP
Page : 248 pages
File Size : 42,5 Mb
Release : 2021-10-15
Category : Law
ISBN : 9780228010012

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Making a Killing by Ian Michael Oxnevad Pdf

The international financial system is not only economic, but political. Making a Killing explores the often-overlooked world of terrorist financing and the involvement of the international banking system. In order to address the threat of terrorist organizations in a post-9/11 world – and how they are funded and financed in particular – the international community has constructed a vast architecture of counterterrorist finance laws, policies, and institutions. Connecting the fields of security studies, political economy, and finance, Ian Oxnevad argues that a bank’s institutional link to a state (as a state-owned bank or a bank with strong state connections) will protect it from any enforcement action for violations of anti-money laundering and counter-terrorism financing regulations. In the face of states blocking such enforcement actions, these regulations prove ineffective in preventing the financing of terrorism, as the state’s self-interest supersedes its interest in preventing terrorist financing. Making a Killing seeks to assess how effective new laws and regulations have been, as well as to identify best practices for future attempts to counter the financing of terrorism.

The Challenge of Grand Strategy

Author : Jeffrey W. Taliaferro,Norrin M. Ripsman,Steven E. Lobell
Publisher : Cambridge University Press
Page : 361 pages
File Size : 43,7 Mb
Release : 2012-08-06
Category : Political Science
ISBN : 9781107022522

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The Challenge of Grand Strategy by Jeffrey W. Taliaferro,Norrin M. Ripsman,Steven E. Lobell Pdf

Historians and political scientists re-examine the conventional wisdom of grand strategies pursued by the great powers during the interwar years.

International Relations Theory Today

Author : Ken Booth,Toni Erskine
Publisher : John Wiley & Sons
Page : 408 pages
File Size : 40,7 Mb
Release : 2016-09-16
Category : Political Science
ISBN : 9781509508341

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International Relations Theory Today by Ken Booth,Toni Erskine Pdf

International Relations (IR) theorists speak with conviction, and often passion, to the global condition of human society. The result is an important, dynamic and often deeply divided field. This long-awaited new edition of International Relations Theory Today offers undergraduate and postgraduate students an essential guide to the complex terrain of IR theory and the key questions on its agenda. With chapters by 25 prominent and provocative IR theorists, the book reveals the intellectual excitement - and turmoil - of theorizing world politics. It reflects the conflicts and tensions around the profound challenges facing the contemporary world, such as climate change, globalization, nuclear proliferation, and economic and political injustice and conflict, while also expressing hope that we can better understand, and respond to, these challenges. Above all, this book demonstrates the significance of thinking theoretically about international relations and developing the tools not merely to describe but also to explain, analyse, prescribe and possibly re-imagine the global political landscape. As the world comes face-to-face with historic challenges over the coming decades, International Relations Theory Today will help its readers to participate more effectively in debates about the most important global political dilemmas of our time.

States and the Masters of Capital

Author : Quentin Bruneau
Publisher : Columbia University Press
Page : 152 pages
File Size : 45,9 Mb
Release : 2022-12-13
Category : Political Science
ISBN : 9780231555647

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States and the Masters of Capital by Quentin Bruneau Pdf

Today, states’ ability to borrow private capital depends on stringent evaluations of their creditworthiness. While many presume that this has long been the case, Quentin Bruneau argues that it is a surprisingly recent phenomenon—the outcome of a pivotal shift in the social composition of financial markets. Investigating the financiers involved in lending capital to sovereigns over the past two centuries, Bruneau identifies profound changes in their identities, goals, and forms of knowledge. He shows how an old world made up of merchant banking families pursuing both profit and status gradually gave way to a new one dominated by large companies, such as joint stock banks and credit rating agencies, exclusively pursuing profit. Lacking the web of personal ties to sovereigns across the world that their established rivals possessed, these financial institutions began relying on a different form of knowledge created to describe and compare states through quantifiable data: statistics. Over the course of this epochal shift, which only came to an end a few decades ago, financial markets thus reconceptualized states. Instead of a set of individuals to be known in person, they became numbers on a page. Raising new questions about the history of sovereign lending, this book illuminates the nature of the relationship between states and financial markets today—and suggests that it may be on the cusp of another major transformation.

The Establishment

Author : Owen Jones
Publisher : Penguin UK
Page : 384 pages
File Size : 55,7 Mb
Release : 2014-09-04
Category : Political Science
ISBN : 9780141975009

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The Establishment by Owen Jones Pdf

THE PHENOMENAL BESTSELLER 'Fantastic, timely, eye-opening' Armando Iannucci, New Statesman, Books of the Year 'Captures a collective sense of anger and awakening' Matt Haig, Observer, Books of the Year Behind our democracy lurks a powerful but unaccountable network of people who wield massive power and reap huge profits in the process. In exposing this shadowy and complex system that dominates our lives, Owen Jones sets out on a journey into the heart of our Establishment, from the lobbies of Westminster to the newsrooms, boardrooms and trading rooms of Fleet Street and the City. Exposing the revolving doors that link these worlds, and the vested interests that bind them together, Jones shows how, in claiming to work on our behalf, the people at the top are doing precisely the opposite. In fact, they represent the biggest threat to our democracy today - and it is time they were challenged. 'A book of revelations ... The Establishment have stitched it up - stitched you up - and they know it' Danny Dorling, Times Higher Education Supplement 'A dissection of the profoundly and sickeningly corrupt state that is present-day Britain. He is a fine writer, and this is a truly necessary book' Philip Pullman 'Owen Jones is a phenomenon of our times' David Kynaston, The Times Literary Supplement 'You will be enlightened and angry' Irvine Welsh