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Author: Fahad Ahmad Bishara
Publisher: Cambridge University Press
ISBN: 1107155657
Category : Business & Economics
Languages : en
Pages : 291
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Book Description
An innovative legal history of economic life in the Western Indian Ocean, charting the emergence of a trans-oceanic contractual culture.
Author: Fahad Ahmad Bishara
Publisher: Cambridge University Press
ISBN: 1107155657
Category : Business & Economics
Languages : en
Pages : 291
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Book Description
An innovative legal history of economic life in the Western Indian Ocean, charting the emergence of a trans-oceanic contractual culture.
Author: M. Ayhan Kose
Publisher: World Bank Publications
ISBN: 1464815453
Category : Business & Economics
Languages : en
Pages : 403
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Book Description
The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.
Author: Johan Mathew
Publisher: Univ of California Press
ISBN: 0520963423
Category : History
Languages : en
Pages : 272
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Book Description
What is the relationship between trafficking and free trade? Is trafficking the perfection or the perversion of free trade? Trafficking occurs thousands of times each day at borders throughout the world, yet we have come to perceive it as something quite extraordinary. How did this happen, and what role does trafficking play in capitalism? To answer these questions, Johan Mathew traces the hidden networks that operated across the Arabian Sea in the nineteenth and early twentieth centuries. Following the entangled history of trafficking and capitalism, he explores how the Arabian Sea reveals the gaps that haunt political borders and undermine economic models. Ultimately, he shows how capitalism was forged at the margins of the free market, where governments intervened, and traffickers turned a profit.
Author: Charles R. Geisst
Publisher: University of Pennsylvania Press
ISBN: 0812207505
Category : Business & Economics
Languages : en
Pages : 396
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Book Description
The practice of charging interest on loans has been controversial since it was first mentioned in early recorded history. Lending is a powerful economic tool, vital to the development of society but it can also lead to disaster if left unregulated. Prohibitions against excessive interest, or usury, have been found in almost all societies since antiquity. Whether loans were made in kind or in cash, creditors often were accused of beggar-thy-neighbor exploitation when their lending terms put borrowers at risk of ruin. While the concept of usury reflects transcendent notions of fairness, its definition has varied over time and place: Roman law distinguished between simple and compound interest, the medieval church banned interest altogether, and even Adam Smith favored a ceiling on interest. But in spite of these limits, the advantages and temptations of lending prompted financial innovations from margin investing and adjustable-rate mortgages to credit cards and microlending. In Beggar Thy Neighbor, financial historian Charles R. Geisst tracks the changing perceptions of usury and debt from the time of Cicero to the most recent financial crises. This comprehensive economic history looks at humanity's attempts to curb the abuse of debt while reaping the benefits of credit. Beggar Thy Neighbor examines the major debt revolutions of the past, demonstrating that extensive leverage and debt were behind most financial market crashes from the Renaissance to the present day. Geisst argues that usury prohibitions, as part of the natural law tradition in Western and Islamic societies, continue to play a key role in banking regulation despite modern advances in finance. From the Roman Empire to the recent Dodd-Frank financial reforms, usury ceilings still occupy a central place in notions of free markets and economic justice.
Author: Dinny McMahon
Publisher: HarperCollins
ISBN: 1328846024
Category : Business & Economics
Languages : en
Pages : 285
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Book Description
A stunning inside look at how and why the foundations upon which China has built the world’s second largest economy, have started to crumble. Over the course of a decade spent reporting on the ground in China as a financial journalist, Dinny McMahon gradually came to the conclusion that the widely held belief in China’s inevitable economic ascent is dangerously wrong. In this unprecedented deep dive, McMahon shows how, lurking behind the illusion of prosperity, China’s economic growth has been built on a staggering mountain of debt. While stories of newly built but empty cities, white elephant state projects, and a byzantine shadow banking system, have all become a regular fixture in the press in recent years, McMahon goes beyond the headlines to explain how such waste has been allowed to flourish, and why one of the most powerful governments in the world has been at a loss to stop it. Through the stories of ordinary Chinese citizens, McMahon tries to make sense of the unique—and often bizarre—mechanics of the Chinese economy, whether it be the state’s addiction to appropriating land from poor farmers; or why a Chinese entrepreneur decided it was cheaper to move his yarn factory to South Carolina; or why ambitious Chinese mayors build ghost cities; or why the Chinese bureaucracy was able to stare down Beijing’s attempts to break up the state’s pointless monopoly over the distribution of table salt. Debt, entrenched vested interests, a frenzy of speculation, and an aging population are all pushing China toward an economic reckoning. China’s Great Wall of Debt unravels an incredibly complex and opaque economy, one whose fortunes—for better or worse—will shape the globe like never before.
Author: Gary Bridson-Daley
Publisher: The History Press
ISBN: 0750986573
Category : Biography & Autobiography
Languages : en
Pages : 323
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Book Description
The Second World War is famed for being the conflict that changed the face of warfare, and it is the last that changed the face of the world. In addition to remembering those who passed away in those dark days of war, a sincere debt of gratitude is owed to all those now in their twilight years who gave all that they had for King and Country. In this new and revised third edition, with additional material to celebrate the lives of D-Day and Arnhem veterans, Gary Bridson-Daley presents 46 of over 150 interviews he conducted with veterans over recent years, adding to the history books the words and the original poetry of those who fought and supported the war effort to ensure freedom, peace and prosperity for generations to come. From each corner of the British Isles and every armed service, from Dam Buster George 'Johnny' Johnson through to riveter Susan Jones: heroes, all.
Author: Simon Johnson
Publisher: Vintage
ISBN: 0307947645
Category : Business & Economics
Languages : en
Pages : 386
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Book Description
From the authors of the national bestseller 13 Bankers, a chilling account of America’s unprecedented debt crisis: how it came to pass, why it threatens to topple the nation as a superpower, and what needs to be done about it. With bracing clarity, White House Burning explains why the national debt matters to your everyday life. Simon Johnson and James Kwak describe how the government has been able to pay off its debt in the past, even after the massive deficits incurred as a result of World War II, and analyze why this is near-impossible today. They closely examine, among other factors, macroeconomic shifts of the 1970s, Reaganism and the rise of conservatism, and demographic changes that led to the growth of major—and extremely popular—social insurance programs. What is unquestionably clear is how recent financial turmoil exacerbated the debt crisis while creating a political climate in which it is even more difficult to solve.
Author: Kwasi Kwarteng
Publisher: PublicAffairs
ISBN: 1610391969
Category : History
Languages : en
Pages : 441
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Book Description
The world was wild for gold. After discovering the Americas, and under pressure to defend their vast dominion, the Habsburgs of Spain promoted gold and silver exploration in the New World with ruthless urgency. But, the great influx of wealth brought home by plundering conquistadors couldn't compensate for the Spanish government's extraordinary military spending, which would eventually bankrupt the country multiple times over and lead to the demise of the great empire. Gold became synonymous with financial dependability, and following the devastating chaos of World War I, the gold standard came to express the order of the free market system. Warfare in pursuit of wealth required borrowing -- a quickly compulsive dependency for many governments. And when people lost confidence in the promissory notes and paper currencies issued during wartime, governments again turned to gold. In this captivating historical study, Kwarteng exposes a pattern of war-waging and financial debt -- bedmates like April and taxes that go back hundreds of years, from the French Revolution to the emergence of modern-day China. His evidence is as rich and colorful as it is sweeping. And it starts and ends with gold.
Author: James MacDonald
Publisher: Princeton University Press
ISBN: 9780691126326
Category : Business & Economics
Languages : en
Pages : 580
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Book Description
For the greater part of recorded history the most successful and powerful states were autocracies; yet now the world is increasingly dominated by democracies. In A Free Nation Deep in Debt, James Macdonald provides a novel answer for how and why this political transformation occurred. The pressures of war finance led ancient states to store up treasure; and treasure accumulation invariably favored autocratic states. But when the art of public borrowing was developed by the city-states of medieval Italy as a democratic alternative to the treasure chest, the balance of power tipped. From that point on, the pressures of war favored states with the greatest public creditworthiness; and the most creditworthy states were invariably those in which the people who provided the money also controlled the government. Democracy had found a secret weapon and the era of the citizen creditor was born. Macdonald unfolds this tale in a sweeping history that starts in biblical times, passes via medieval Italy to the wars and revolutions of the seventeenth and eighteenth centuries, and ends with the great bond drives that financed the two world wars.
Author: Eula Biss
Publisher: Penguin
ISBN: 0525537473
Category : Social Science
Languages : en
Pages : 336
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Book Description
A NEW YORK TIMES EDITORS’ CHOICE NAMED A BEST BOOK OF THE YEAR BY TIME , NPR, INSTYLE, AND GOOD HOUSEKEEPING “A sensational new book [that] tries to figure out whether it’s possible to live an ethical life in a capitalist society. . . . The results are enthralling.” —Associated Press A timely and arresting new look at affluence by the New York Times bestselling author, “one of the leading lights of the modern American essay.” —Financial Times “My adult life can be divided into two distinct parts,” Eula Biss writes, “the time before I owned a washing machine and the time after.” Having just purchased her first home, the poet and essayist now embarks on a provocative exploration of the value system she has bought into. Through a series of engaging exchanges—in libraries and laundromats, over barstools and backyard fences—she examines our assumptions about class and property and the ways we internalize the demands of capitalism. Described by the New York Times as a writer who “advances from all sides, like a chess player,” Biss offers an uncommonly immersive and deeply revealing new portrait of work and luxury, of accumulation and consumption, of the value of time and how we spend it. Ranging from IKEA to Beyoncé to Pokemon, Biss asks, of both herself and her class, “In what have we invested?”
