States, Debt, and Power

States, Debt, and Power PDF Author: Kenneth H. F. Dyson
Publisher: Oxford University Press (UK)
ISBN: 0198714076
Category : Business & Economics
Languages : en
Pages : 801

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Book Description
States, Debt, and Power deals with one of the most pressing political and policy issues of the 21st century: the so-called 'crisis of debt' with its effects on perceptions of state power and of the relevance and value of democratic politics and of European integration.

States, Debt, and Power

States, Debt, and Power PDF Author: Kenneth H. F. Dyson
Publisher: Oxford University Press (UK)
ISBN: 0198714076
Category : Business & Economics
Languages : en
Pages : 801

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Book Description
States, Debt, and Power deals with one of the most pressing political and policy issues of the 21st century: the so-called 'crisis of debt' with its effects on perceptions of state power and of the relevance and value of democratic politics and of European integration.

Public Debt, Inequality, and Power

Public Debt, Inequality, and Power PDF Author: Sandy Brian Hager
Publisher: Univ of California Press
ISBN: 0520284666
Category : Business & Economics
Languages : en
Pages : 173

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Book Description
Introduction : public debt, inequality and power -- The spectacle of a highly centralized public debt -- The bondholding class resurgent -- Fiscal conflict : past and present -- Bonding domestic and foreign owners -- Who rules the debt state? -- Conclusion : informing democratic debate -- Appendix : accounting for the public debt

States of Credit

States of Credit PDF Author: David Stasavage
Publisher: Princeton University Press
ISBN: 1400838878
Category : Business & Economics
Languages : en
Pages : 207

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Book Description
States of Credit provides the first comprehensive look at the joint development of representative assemblies and public borrowing in Europe during the medieval and early modern eras. In this pioneering book, David Stasavage argues that unique advances in political representation allowed certain European states to gain early and advantageous access to credit, but the emergence of an active form of political representation itself depended on two underlying factors: compact geography and a strong mercantile presence. Stasavage shows that active representative assemblies were more likely to be sustained in geographically small polities. These assemblies, dominated by mercantile groups that lent to governments, were in turn more likely to preserve access to credit. Given these conditions, smaller European city-states, such as Genoa and Cologne, had an advantage over larger territorial states, including France and Castile, because mercantile elites structured political institutions in order to effectively monitor public credit. While creditor oversight of public funds became an asset for city-states in need of finance, Stasavage suggests that the long-run implications were more ambiguous. City-states with the best access to credit often had the most closed and oligarchic systems of representation, hindering their ability to accept new economic innovations. This eventually transformed certain city-states from economic dynamos into rentier republics. Exploring the links between representation and debt in medieval and early modern Europe, States of Credit contributes to broad debates about state formation and Europe's economic rise.

Debt as Power

Debt as Power PDF Author: Richard H. Robbins
Publisher: Manchester University Press
ISBN: 1526104830
Category : Political Science
Languages : en
Pages : 217

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Book Description
This electronic version has been made available under a Creative Commons (BY-NC-ND) open access license. Debt as power is a timely and innovative contribution to our understanding of one of the most prescient issues of our time: the explosion of debt across the global economy and related requirement of political leaders to pursue exponential growth to meet the demands of creditors and investors. The book is distinctive in offering a historically sensitive and comprehensive analysis of debt as an interconnected and global phenomenon.

Money

Money PDF Author: Michel Aglietta
Publisher: Verso Books
ISBN: 1786634430
Category : Political Science
Languages : en
Pages : 326

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Book Description
As the financial crisis reached its climax in September 2008, the most important figure on the planet was Federal Reserve chairman Ben Bernanke. The whole financial system was collapsing, without anything to stop it. When a senator asked Bernanke what would happen if the central bank did not carry out its rescue package, he replied,"lf we don't do this, we may not have an economy on Monday." What saved finance, and the Western economy, was money. Yet it is a highly ambivalent phenomenon. It is deeply embedded in our societies, acting as a powerful link between the individual and the collective. But by no means is it neutral. Through its grip on finance and the debts system, money confers sovereign power on the economy. If confidence in money is not maintained, crises will follow. Looking over the last 5,000 years, this book explores the development of money and its close connection to sovereign power. Michel Aglietta mobilises the tools of anthropology, history and political economy in order to analyse how political structures and monetary systems have transformed one another. We can thus grasp the different eras of monetary regulation and the crises capitalism has endured throughout its history.

The Reckoning: Debt, Democracy, and the Future of American Power

The Reckoning: Debt, Democracy, and the Future of American Power PDF Author: Michael Moran
Publisher: St. Martin's Griffin
ISBN: 9781137278333
Category : Political Science
Languages : en
Pages : 0

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Book Description
A leading forecaster of economic and political trends takes a sharp look at the decline of American influence in the world, and how it can prepare for the new reality. The age of American global dominance is ending. Today, a host of forces are converging to challenge its cherished notion of exceptionalism, and risky economic and foreign policies have steadily eroded the power structure in place since the Cold War. Staggering under a huge burden of debt, the country must make some tough choices—or cede sovereignty to its creditors. In The Reckoning, Michael Moran, geostrategy analyst explores the challenges ahead -- and what, if anything, can be prevent chaos as America loses its perch at the top of the mountain. Covering developments like unprecedented information technologies, the growing prosperity of China, India, Brazil, and Turkey, and the diminished importance of Wall Street in the face of global markets, Moran warns that the coming shift will have serious consequences not just for the United States, but for the wider world. Countries that have traditionally depended on the United States for protection and global stability will have to fend for themselves. Moran describes how, with a bit of wise leadership, America can transition to this new world order gracefully—by managing entitlements, reigniting sustainable growth, reforming immigration policy, launching new regional dialogues that bring friend and rival together in cooperative multinational structures, and breaking the poisonous deadlock in Washington. If not, he warns, history won't wait.

Why Not Default?

Why Not Default? PDF Author: Jerome E. Roos
Publisher: Princeton University Press
ISBN: 0691184933
Category : Business & Economics
Languages : en
Pages : 398

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Book Description
How creditors came to wield unprecedented power over heavily indebted countries—and the dangers this poses to democracy The European debt crisis has rekindled long-standing debates about the power of finance and the fraught relationship between capitalism and democracy in a globalized world. Why Not Default? unravels a striking puzzle at the heart of these debates—why, despite frequent crises and the immense costs of repayment, do so many heavily indebted countries continue to service their international debts? In this compelling and incisive book, Jerome Roos provides a sweeping investigation of the political economy of sovereign debt and international crisis management. He takes readers from the rise of public borrowing in the Italian city-states to the gunboat diplomacy of the imperialist era and the wave of sovereign defaults during the Great Depression. He vividly describes the debt crises of developing countries in the 1980s and 1990s and sheds new light on the recent turmoil inside the Eurozone—including the dramatic capitulation of Greece’s short-lived anti-austerity government to its European creditors in 2015. Drawing on in-depth case studies of contemporary debt crises in Mexico, Argentina, and Greece, Why Not Default? paints a disconcerting picture of the ascendancy of global finance. This important book shows how the profound transformation of the capitalist world economy over the past four decades has endowed private and official creditors with unprecedented structural power over heavily indebted borrowers, enabling them to impose painful austerity measures and enforce uninterrupted debt service during times of crisis—with devastating social consequences and far-reaching implications for democracy.

Sovereign Wealth and Sovereign Power

Sovereign Wealth and Sovereign Power PDF Author: Brad Setser
Publisher: Council on Foreign Relations
ISBN: 0876094159
Category : Business & Economics
Languages : en
Pages : 68

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Book Description
The rise in China's trade surplus, the increase in oil prices, and a slowdown in demand for U.S. assets from private investors abroad has increased the United States' reliance on foreign governments for financing. This report examines whether America's ability to secure large quantities of external financing from foreign governments is a reflection of its political power, a constraint on its ability to exercise power, or a combination of the two.

The Political Economy of Public Debt

The Political Economy of Public Debt PDF Author: Richard M. Salsman
Publisher: Edward Elgar Publishing
ISBN: 1785363387
Category : Business & Economics
Languages : en
Pages : 337

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Book Description
How have the most influential political economists of the past three centuries theorized about sovereign borrowing and shaped its now widespread use? That important question receives a comprehensive answer in this original work, featuring careful textual analysis and illuminating exhibits of public debt empirics since 1700. Beyond its value as a definitive, authoritative history of thought on public debt, this book rehabilitates and reintroduces a realist perspective into a contemporary debate now heavily dominated by pessimists and optimists alike.

The Impact of United States Debt on American Power Projection

The Impact of United States Debt on American Power Projection PDF Author: Robert E. King
Publisher:
ISBN:
Category : Debts, Public
Languages : en
Pages : 21

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Book Description
The United States is in the midst of a financial crisis created in large part by its ever-growing national debt. The circumstances leading to the debt have been building for over a decade and, if left unaddressed, will leave the United States unable to respond to traditional interests both at home and abroad. The founders of this nation recognized that sound national finances and robust financial institutions were critical to a strong economy and the government's ability to finance the extraordinary resources needed to prosecute a war. The amount of national debt that the United States currently carries will greatly impact its ability to raise funds for future power projection requirements, and potential adversaries who own large portfolios of American debt (such as China) may have the strategic ability to impact future U.S. policy. The ability to employ the elements of national power (Diplomacy, Information, Military, Economic) depends on adequate funding of the corresponding government agencies.