Download or read book American Power after the Financial Crisis written by Jonathan Kirshner and published by Cornell University Press. This book was released on 2014-09-08 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Crashed written by Adam Tooze and published by Penguin. This book was released on 2018-08-07 with total page 720 pages. Available in PDF, EPUB and Kindle. Book excerpt: WINNER OF THE LIONEL GELBER PRIZE A NEW YORK TIMES NOTABLE BOOK OF 2018 ONE OF THE ECONOMIST'S BOOKS OF THE YEAR A NEW YORK TIMES CRITICS' TOP BOOK "An intelligent explanation of the mechanisms that produced the crisis and the response to it...One of the great strengths of Tooze's book is to demonstrate the deeply intertwined nature of the European and American financial systems."--The New York Times Book Review From the prizewinning economic historian and author of Shutdown and The Deluge, an eye-opening reinterpretation of the 2008 economic crisis (and its ten-year aftermath) as a global event that directly led to the shockwaves being felt around the world today. We live in a world where dramatic shifts in the domestic and global economy command the headlines, from rollbacks in US banking regulations to tariffs that may ignite international trade wars. But current events have deep roots, and the key to navigating today’s roiling policies lies in the events that started it all—the 2008 economic crisis and its aftermath. Despite initial attempts to downplay the crisis as a local incident, what happened on Wall Street beginning in 2008 was, in fact, a dramatic caesura of global significance that spiraled around the world, from the financial markets of the UK and Europe to the factories and dockyards of Asia, the Middle East, and Latin America, forcing a rearrangement of global governance. With a historian’s eye for detail, connection, and consequence, Adam Tooze brings the story right up to today’s negotiations, actions, and threats—a much-needed perspective on a global catastrophe and its long-term consequences.

Download or read book The Cambridge History of America and the World Volume 3 1900 1945 written by Brooke L. Blower and published by Cambridge University Press. This book was released on 2022-03-03 with total page 866 pages. Available in PDF, EPUB and Kindle. Book excerpt: The third volume of The Cambridge History of America and the World covers the volatile period between 1900 and 1945 when the United States emerged as a world power and American engagements abroad flourished in new and consequential ways. Showcasing the most innovative approaches to both traditional topics and emerging themes, leading scholars chart the complex ways in which Americans projected their growing influence across the globe; how others interpreted and constrained those efforts; how Americans disagreed with each other, often fiercely, about foreign relations; and how race, religion, gender, and other factors shaped their worldviews. During the early twentieth century, accelerating forces of global interdependence presented Americans, like others, with a set of urgent challenges from managing borders, humanitarian crises, economic depression, and modern warfare to confronting the radical, new political movements of communism, fascism, and anticolonial nationalism. This volume will set the standard for new understandings of this pivotal moment in the history of America and the world.

Download or read book Fed Power written by Lawrence Jacobs and published by Oxford University Press. This book was released on 2021-02-12 with total page 293 pages. Available in PDF, EPUB and Kindle. Book excerpt: An eye-opening analysis of the Federal Reserve's massive and unwarranted power in American life and how it favors the financial sector over everyone else. The Federal Reserve, created more than a century ago, is the most powerful central bank in the world. The Fed's power, which derives from its ability to alter the money supply and move interest rates, weighs heavily not only on the US economy, but on the world economy as well. Lawrence R. Jacobs and Desmond King's Fed Power is the first sustained synthesis of the Fed's political role--especially the way in which it uses its power to benefit some interest groups and not others--since the 2008 financial crisis. In this fully updated and revised second edition, Fed Power addresses new developments during Trump's presidency--particularly the Fed's massive and unprecedented injection of liquidity into the US economy following the COVID epidemic-and offers fresh insights on the Fed's outsized role in picking winners and losers in the American economy. King and Jacobs conclude with bold proposals to reform America's financial management to prevent future crises and to restore democratic accountability. A powerful critique of how the Federal Reserve governs the American economy, Fed Power will be essential reading for anyone interested in the role that the Fed's policies have played in increasing economic and racial inequality across both the Obama and Trump presidencies and the new directions pursued by the Biden administration and progressive activists.

Download or read book Fiscal Policy after the Financial Crisis written by Alberto Alesina and published by University of Chicago Press. This book was released on 2013-06-25 with total page 596 pages. Available in PDF, EPUB and Kindle. Book excerpt: The recent recession has brought fiscal policy back to the forefront, with economists and policy makers struggling to reach a consensus on highly political issues like tax rates and government spending. At the heart of the debate are fiscal multipliers, whose size and sensitivity determine the power of such policies to influence economic growth. Fiscal Policy after the Financial Crisis focuses on the effects of fiscal stimuli and increased government spending, with contributions that consider the measurement of the multiplier effect and its size. In the face of uncertainty over the sustainability of recent economic policies, further contributions to this volume discuss the merits of alternate means of debt reduction through decreased government spending or increased taxes. A final section examines how the short-term political forces driving fiscal policy might be balanced with aspects of the long-term planning governing monetary policy. A direct intervention in timely debates, Fiscal Policy after the Financial Crisis offers invaluable insights about various responses to the recent financial crisis.

Download or read book The Financial Crisis Inquiry Report written by Financial Crisis Inquiry Commission and published by Cosimo, Inc.. This book was released on 2011-05-01 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Financial Crisis Inquiry Report, published by the U.S. Government and the Financial Crisis Inquiry Commission in early 2011, is the official government report on the United States financial collapse and the review of major financial institutions that bankrupted and failed, or would have without help from the government. The commission and the report were implemented after Congress passed an act in 2009 to review and prevent fraudulent activity. The report details, among other things, the periods before, during, and after the crisis, what led up to it, and analyses of subprime mortgage lending, credit expansion and banking policies, the collapse of companies like Fannie Mae and Freddie Mac, and the federal bailouts of Lehman and AIG. It also discusses the aftermath of the fallout and our current state. This report should be of interest to anyone concerned about the financial situation in the U.S. and around the world.THE FINANCIAL CRISIS INQUIRY COMMISSION is an independent, bi-partisan, government-appointed panel of 10 people that was created to "examine the causes, domestic and global, of the current financial and economic crisis in the United States." It was established as part of the Fraud Enforcement and Recovery Act of 2009. The commission consisted of private citizens with expertise in economics and finance, banking, housing, market regulation, and consumer protection. They examined and reported on "the collapse of major financial institutions that failed or would have failed if not for exceptional assistance from the government."News Dissector DANNY SCHECHTER is a journalist, blogger and filmmaker. He has been reporting on economic crises since the 1980's when he was with ABC News. His film In Debt We Trust warned of the economic meltdown in 2006. He has since written three books on the subject including Plunder: Investigating Our Economic Calamity (Cosimo Books, 2008), and The Crime Of Our Time: Why Wall Street Is Not Too Big to Jail (Disinfo Books, 2011), a companion to his latest film Plunder The Crime Of Our Time. He can be reached online at www.newsdissector.com.

Download or read book Weary Policeman written by Dana Allin and published by Routledge. This book was released on 2017-10-03 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: As another presidential election looms, the Americas role in global affairs and security has emerged as one of the campaigns great battle lines. The struggle not just to define but also to preserve American power is no modern phenomenon: questions of intervention and projection have dominated the nations politics from the days of the Founding Fathers. Then, as now, the old centres of power were shifting. Nor is economic stress an unfamiliar factor for policymakers. But in 2012 these problems are compounded by the on-going financial crisis in Europe, which, together with the overstretch and fatigue from two wars, has sapped the strength of Americas chief allies. While it may urge its NATO partners to shoulder more of the security burden, the US finds them less willing and occasionally unable to share the strain. This Adelphi examines the myriad challenges America must confront if it is to uphold and spread its values.

Download or read book Failure by Design written by Josh Bivens and published by Cornell University Press. This book was released on 2011-02-15 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Failure by Design, the Economic Policy Institute’s Josh Bivens takes a step back from the acclaimed State of Working America series, building on its wealth of data to relate a compelling narrative of the U.S. economy’s struggle to emerge from the Great Recession of 2008. Bivens explains the causes and impact on working Americans of the most catastrophic economic policy failure since the 1920s. As outlined clearly here, economic growth since the late 1970s has been slow and inequitably distributed, largely as a result of poor policy choices. These choices only got worse in the 2000s, leading to an anemic economic expansion. What growth we did see in the economy was fueled by staggering increases in private-sector debt and a housing bubble that artificially inflated wealth by trillions of dollars. As had been predicted, the bursting of the housing bubble had disastrous consequences for the broader economy, spurring a financial crisis and a rise in joblessness that dwarfed those resulting from any recession since the Great Depression. The fallout from the Great Recession makes it near certain that there will be yet another lost decade of income growth for typical families, whose incomes had not been boosted by the previous decade’s sluggish and localized economic expansion. In its broad narrative of how the economy has failed to deliver for most Americans over much of the past three decades, Failure by Design also offers compelling graphic evidence on jobs, incomes, wages, and other measures of economic well-being most relevant to low- and middle-income workers. Josh Bivens tracks these trends carefully, giving a lesson in economic history that is readable yet rigorous in its analysis. Intended as both a stand-alone volume and a companion to the new State of Working America website that presents all of the data underlying this cogent analysis, Failure by Design will become required reading as a road map to the economic problems that confront working Americans.

Download or read book Across the Great Divide written by Martin Neil Baily and published by Hoover Institution Press. This book was released on 2014-11-01 with total page 417 pages. Available in PDF, EPUB and Kindle. Book excerpt: The financial crisis of 2008 devastated the American economy and caused U.S. policymakers to rethink their approaches to major financial crises. More than five years have passed since the collapse of Lehman Brothers, but questions still persist about the best ways to avoid and respond to future financial crises. In Across the Great Divide, a co-publication with Brookings Institution, contributing economic and legal scholars from academia, industry, and government analyze the financial crisis of 2008, from its causes and effects on the U.S. economy to the way ahead. The expert contributors consider post-crisis regulatory policy reforms and emerging financial and economic trends, including the roles played by highly accommodative monetary policy, securitization run amok, government-sponsored enterprises (GSEs), large asset bubbles, excessive leverage, and the Federal funds rate, among other potential causes. They discuss the role played by the Federal Reserve and examine the concept of "too big to fail." And they review and assess resolution frameworks, considering experiences with Lehman Bros. and other firms in the crisis, Title II of the Dodd-Frank Act, and the Chapter 14 bankruptcy code proposal.

Download or read book The Paradox of American Power written by Joseph S. Nye Jr. and published by Oxford University Press. This book was released on 2003-05-01 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: Not since the Roman Empire has any nation had as much economic, cultural, and military power as the United States does today. Yet, as has become all too evident through the terrorist attacks of September 11th and the impending threat of the acquisition of nuclear weapons by Iran, that power is not enough to solve global problems--like terrorism, environmental degradation, and the proliferation of weapons of mass destruction--without involving other nations. Here Joseph S. Nye, Jr. focuses on the rise of these and other new challenges and explains clearly why America must adopt a more cooperative engagement with the rest of the world.

Download or read book Financial Crisis Management and the Pursuit of Power written by Mine Aysen Doyran and published by Routledge. This book was released on 2016-12-05 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: How does America manage crisis on behalf of international finance in the absence of a global state? Doyran explores the relationship between state power and global finance and in particular examines the various attempts by the US state at financial crisis management. The case studies highlight the dramatic consequences of the rise of financial capitalism in the US economy, and also explore regulatory sources of market failures, systemic risk and moral hazard. This book focuses on this primary issue facing scholars of American power in various social science disciplines, including political science, finance and international relations, professional financial analysts and Government officials. This book is for the critical reader who is interested in financial policy and wants to learn more about the causes and consequences of the rise of financial markets.

Download or read book After the Music Stopped written by Alan S. Blinder and published by Penguin. This book was released on 2013-01-24 with total page 528 pages. Available in PDF, EPUB and Kindle. Book excerpt: The New York Times bestseller "Blinder's book deserves its likely place near the top of reading lists about the crisis. It is the best comprehensive history of the episode... A riveting tale." - Financial Times One of our wisest and most clear-eyed economic thinkers offers a masterful narrative of the crisis and its lessons. Many fine books on the financial crisis were first drafts of history—books written to fill the need for immediate understanding. Alan S. Blinder, esteemed Princeton professor, Wall Street Journal columnist, and former vice chairman of the Federal Reserve Board, held off, taking the time to understand the crisis and to think his way through to a truly comprehensive and coherent narrative of how the worst economic crisis in postwar American history happened, what the government did to fight it, and what we can do from here—mired as we still are in its wreckage. With bracing clarity, Blinder shows us how the U.S. financial system, which had grown far too complex for its own good—and too unregulated for the public good—experienced a perfect storm beginning in 2007. Things started unraveling when the much-chronicled housing bubble burst, but the ensuing implosion of what Blinder calls the “bond bubble” was larger and more devastating. Some people think of the financial industry as a sideshow with little relevance to the real economy—where the jobs, factories, and shops are. But finance is more like the circulatory system of the economic body: if the blood stops flowing, the body goes into cardiac arrest. When America’s financial structure crumbled, the damage proved to be not only deep, but wide. It took the crisis for the world to discover, to its horror, just how truly interconnected—and fragile—the global financial system is. Some observers argue that large global forces were the major culprits of the crisis. Blinder disagrees, arguing that the problem started in the U.S. and was pushed abroad, as complex, opaque, and overrated investment products were exported to a hungry world, which was nearly poisoned by them. The second part of the story explains how American and international government intervention kept us from a total meltdown. Many of the U.S. government’s actions, particularly the Fed’s, were previously unimaginable. And to an amazing—and certainly misunderstood—extent, they worked. The worst did not happen. Blinder offers clear-eyed answers to the questions still before us, even if some of the choices ahead are as divisive as they are unavoidable. After the Music Stopped is an essential history that we cannot afford to forget, because one thing history teaches is that it will happen again.

Download or read book Weary Policeman written by Dana Allin and published by . This book was released on 2017 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: "As another presidential election looms, the America?s role in global affairs and security has emerged as one of the campaign?s great battle lines. The struggle not just to define but also to preserve American power is no modern phenomenon: questions of intervention and projection have dominated the nation?s politics from the days of the Founding Fathers. Then, as now, the old centres of power were shifting. Nor is economic stress an unfamiliar factor for policymakers.But in 2012 these problems are compounded by the on-going financial crisis in Europe, which, together with the overstretch and fatigue from two wars, has sapped the strength of America?s chief allies. While it may urge its NATO partners to shoulder more of the security burden, the US finds them less willing and occasionally unable to share the strain. This Adelphi examines the myriad challenges America must confront if it is to uphold and spread its values."--Provided by publisher.

Download or read book The Reckoning Debt Democracy and the Future of American Power written by Michael Moran and published by St. Martin's Press. This book was released on 2012-04-10 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book The Downfall of the American Order written by Peter J. Katzenstein and published by Cornell University Press. This book was released on 2022-05-15 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Downfall of the American Order? offers penetrating insight into the emerging global political economy at this moment of an increasingly chaotic world. For seventy-five years, the basic patterns of world politics and the contours of international economic activity took place in the shadow of American leadership and the institutions it designed—an order designed to avoid the horrors of previous eras, including, most poignantly, two world wars and the Great Depression. But all things must pass. The global financial crisis of 2008, the legacy of two long, losing wars, and the polarizing and tumultuous presidency of Donald Trump all suggest that global affairs have reached a turning point. The implications of this are profound. The contributors to this book cast their eyes back on the order that once was, and look ahead to what might follow. In dialogue with each other's appraisals and expectations, they differ in their assessments of the probable, ranging from a hollowed-out American primacy muddling through by default, to partial modifications of old institutions and practices at home and abroad, and to wholesale contestations and the search for new orders. Contributors: Rawi Abdelal, Sheri Berman, Mark Blyth, Francis J. Gavin, Peter A. Gourevitch, Ilene Grabel, Peter J. Katzenstein, Jonathan Kirshner, and John Gerard Ruggie

Download or read book Crisis and Response written by Federal Deposit Insurance Corporation and published by . This book was released on 2018-03-06 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Crisis and Response: An FDIC History, 2008¿2013 reviews the experience of the FDIC during a period in which the agency was confronted with two interconnected and overlapping crises¿first, the financial crisis in 2008 and 2009, and second, a banking crisis that began in 2008 and continued until 2013. The history examines the FDIC¿s response, contributes to an understanding of what occurred, and shares lessons from the agency¿s experience.

Download or read book America s First Great Depression written by Alasdair Roberts and published by Cornell University Press. This book was released on 2012-04-15 with total page 265 pages. Available in PDF, EPUB and Kindle. Book excerpt: For a while, it seemed impossible to lose money on real estate. But then the bubble burst. The financial sector was paralyzed and the economy contracted. State and federal governments struggled to pay their domestic and foreign creditors. Washington was incapable of decisive action. The country seethed with political and social unrest. In America's First Great Depression, Alasdair Roberts describes how the United States dealt with the economic and political crisis that followed the Panic of 1837. As Roberts shows, the two decades that preceded the Panic had marked a democratic surge in the United States. However, the nation’s commitment to democracy was tested severely during this crisis. Foreign lenders questioned whether American politicians could make the unpopular decisions needed on spending and taxing. State and local officials struggled to put down riots and rebellion. A few wondered whether this was the end of America’s democratic experiment. Roberts explains how the country’s woes were complicated by its dependence on foreign trade and investment, particularly with Britain. Aware of the contemporary relevance of this story, Roberts examines how the country responded to the political and cultural aftershocks of 1837, transforming its political institutions to strike a new balance between liberty and social order, and uneasily coming to terms with its place in the global economy.