Download or read book Money Markets and Sovereignty written by Benn Steil and published by Yale University Press. This book was released on 2009-04-01 with total page 301 pages. Available in PDF, EPUB and Kindle. Book excerpt: Winner of the 2010 Hayek Book Prize given by the Manhattan Institute "Money, Markets and Sovereignty is a surprisingly easy read, given the complicated issues covered. In it, Mr. Steil and Mr. Hinds consistently challenge today's statist nostrums."—Doug Bandow, The Washington Times In this keenly argued book, Benn Steil and Manuel Hinds offer the most powerful defense of economic liberalism since F. A. Hayek published The Road to Serfdom more than sixty years ago. The authors present a fascinating intellectual history of monetary nationalism from the ancient world to the present and explore why, in its modern incarnation, it represents the single greatest threat to globalization. Steil and Hinds describe the current state of international economic relations as both unusual and precarious. Eras of economic protectionism have historically coincided with monetary nationalism, while eras of liberal trade have been accompanied by a universal monetary standard. But today, the authors show, an unprecedentedly liberal global trade regime operates side by side with the most extreme doctrine of monetary nationalism ever contrived—a situation bound to trigger periodic crises. Steil and Hinds call for a revival of the political and economic thinking that underlay earlier great periods of globalization, thinking that is increasingly under threat by more recent ideas about what sovereignty means.
Download or read book Sovereign Money written by Joseph Huber and published by Springer. This book was released on 2016-12-09 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: In coming to terms with the still smoldering financial crisis, little attention has been paid to the flaws within our monetary system and how these flaws lie at the root of the crisis. This book provides an introduction and critical assessment of the current monetary system. It begins with an up to date account of the workings of today’s system of state-backed ‘bankmoney’, illustrating the various forms and issuers of money, and discussing money theory and fallacy past and present. It also looks at related economic challenges such as inflation and deflation, asset inflation and bubble building that lead to market instability and examines the ineffectual monetary policies and primary credit markets that are failing to reach some sort of self-limiting equilibrium. In order to fix our financial system, we first need to understand its limitations and the flaws in current monetary and regulatory policy and then correct them. The concluding part of this book is dedicated to the latter, advocating a move towards the sovereign monetary prerogatives of issuing the entire stock of official money and benefitting from the gain thereof (seigniorage). The author argues that these functions should be made the sole responsibility of independent and impartial central banks with full control over the stock of money (not the uses of money) on the basis of a legal mandate that would be more detailed than is the case today. This includes a thorough separation of monetary and fiscal powers, and of both from banking and wider financing functions. This book provides a welcome addition to the banking literature, guiding readers through the inner workings of our monetary and regulatory environments and proposing a new way forward that will better protect our economy from financial instability and crisis.
Download or read book Modern Money Theory written by L. Randall Wray and published by Springer. This book was released on 2015-09-22 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: This second edition explores how money 'works' in the modern economy and synthesises the key principles of Modern Money Theory, exploring macro accounting, currency regimes and exchange rates in both the USA and developing nations.
Download or read book Economic and Monetary Sovereignty in 21st Century Africa written by Maha Ben Gadha and published by Pluto Press (UK). This book was released on 2021-10-20 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: The story of how African societies are resisting financial dependency and colonial legacies
Download or read book The Geography of Money written by Benjamin J. Cohen and published by Cornell University Press. This book was released on 2018-10-18 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: The traditional assumption holds that the territory of money coincides precisely with the political frontiers of each nation state: France has the franc, the United Kingdom has the pound, the United States has the dollar. But the disparity between that simple mental landscape and the actual organization of currency spaces has grown in recent years, as territorial boundaries of individual states limit currency circulation less and less. Many currencies are used outside their "home" country for transactions either between nations or within foreign states. In this book, Benjamin J. Cohen asks what this new geography of money reveals about financial and political power. Cohen shows how recent changes in the geography of money challenge state sovereignty. He examines the role of money and the scope of cross-border currency competition in today's world. Drawing on new work in geography and network theory to explain the new spatial organization of monetary relations, Cohen suggests that international relations, political as well as economic, are being dramatically reshaped by the increasing interpenetration of national monetary spaces. This process, he explains, generates tensions and insecurities as well as opportunities for cooperation.
Download or read book Shades of Sovereignty written by Paul Wilson and published by Rowman & Littlefield. This book was released on 2021-07-12 with total page 277 pages. Available in PDF, EPUB and Kindle. Book excerpt: This comprehensive book traces the role of money in the creation of the state. Starting in the early modern era, Paul Wilson explores the monetary systems of empires and new states in the age of nation-building in the eighteenth and nineteenth century. Spanning a wide geographical and historical range from the creation of the United States of America to the establishment of the European Union and the breakup of the Soviet Union and beyond, the author examines changing attitudes toward monetary sovereignty as dozens of new states created new currencies since the end of the Second World War. Wilson analyzes the decision–making of newly independent states in their choice of an appropriate currency, considering the complex factors involved—ranging from the purely economic to questions of security, international recognition, and outright nationalism that have played a part. The author challenges the notion that each country must necessarily have its own currency and explains why some newly independent countries have chosen to adopt the currency of another state. Citing the examples of international currency unions of the nineteenth century and the present day, he contends that sharing a currency does not represent a surrender of political sovereignty. Instead, Wilson argues for a more rational attitude toward money as a facilitator of transactions rather than as a symbol of national identity.
Download or read book A Contemporary Concept of Monetary Sovereignty written by Claus D. Zimmermann and published by OUP Oxford. This book was released on 2013-11-07 with total page 1345 pages. Available in PDF, EPUB and Kindle. Book excerpt: Monetary sovereignty is a crucial legal concept dictating that states have sovereignty over their own monetary, financial, and fiscal affairs. However, it does not feature as part of any key instruments of international law, including the Articles of Agreement of the International Monetary Fund. Rather, it has remained a somewhat separate notion, developed under contemporary international law from an assertion of the former Permanent Court of International Justice in 1929. As a consequence of globalization and increasing financial integration and a worldwide trend towards the creation of economic and monetary unions, the principle of monetary sovereignty has undergone significant change. This book examines this evolution in detail, and provides a conceptual framework to demonstrate what this means for the legal and economic challenges faced by the international community. The book examines the historic origins and evolution of the concept of monetary sovereignty, putting it into the context of broader concepts of sovereignty. It argues that monetary sovereignty remains relevant as a dynamic legal concept with both positive and normative components. It investigates the continuing hybridization of international monetary law resulting from changes to its formal and material sources. It then examines the complex phenomenon of exchange rate misalignment under international monetary and trade law, and the increasing regionalization of monetary sovereignty, notably in light of the European sovereign debt crisis. Finally, it assesses the role the concept of monetary sovereignty can play in the reorganization of international finance following the recent global financial crisis.
Download or read book For Money and Elders written by Robert W. Blunt and published by University of Chicago Press. This book was released on 2019-11-19 with total page 247 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many observers of Kenya’s complicated history see causes for concern, from the use of public office for private gain to a constitutional structure historically lopsided towards the executive branch. Yet efforts from critics and academics to diagnose the country’s problems do not often consider what these fiscal and political issues mean to ordinary Kenyans. How do Kenyans express their own political understanding, make sense of governance, and articulate what they expect from their leaders? In For Money and Elders, Robert W. Blunt addresses these questions by turning to the political, economic, and religious signs in circulation in Kenya today. He examines how Kenyans attempt to make sense of political instability caused by the uncertainty of authority behind everything from currency to title deeds. When the symbolic order of a society is up for grabs, he shows, violence may seem like an expedient way to enforce the authority of signs. Drawing on fertile concepts of sovereignty, elderhood, counterfeiting, acephaly, and more, Blunt explores phenomena as diverse as the destabilization of ritual “oaths,” public anxieties about Satanism with the advent of democratic reform, and mistrust of official signs. The result is a fascinating glimpse into Kenya’s past and present and a penetrating reflection on meanings of violence in African politics.
Download or read book Economics of Sovereign Wealth Funds written by Mr.Udaibir S. Das and published by International Monetary Fund. This book was released on 2010-12-09 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book covers a wide range of topics of relevance to policymakers in countries that have sovereign wealth funds (SWFs) and those that receive SWF investments. Renowned experts in the field have contributed chapters. The book is organized around four themes: (1) the role and macrofinancial linkages of SWFs, (2) institutional factors, (3) investment approaches and financial markets, and (4) the postcrisis outlook. The book also discusses the challenges facing sovereign wealth funds in the coming years, from an inside perspective on countries, including Canada, Chile, China, Norway, Russia, and New Zealand. Economics of Sovereign Wealth Funds will contribute to a further understanding of the nature, strategies and behavior of SWFs and the environment in which they operate, as their importance is likely to grow in the coming years.
Download or read book Reputation and International Cooperation written by Michael Tomz and published by Princeton University Press. This book was released on 2007-09-02 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: Publisher description
Download or read book Monetary Sovereignty written by John Benjamin Goodman and published by Cornell University Press. This book was released on 1992 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Managing the Sovereign Bank Nexus written by Mr.Giovanni Dell'Ariccia and published by International Monetary Fund. This book was released on 2018-09-07 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews empirical and theoretical work on the links between banks and their governments (the bank-sovereign nexus). How significant is this nexus? What do we know about it? To what extent is it a source of concern? What is the role of policy intervention? The paper concludes with a review of recent policy proposals.
Download or read book Sovereign Wealth Funds written by Christopher Balding and published by Oxford University Press, USA. This book was released on 2012 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sovereign wealth funds are a growing and dynamic force in international finance. This is the first book to compile a history of sovereign wealth funds, recounting the Abu Dhabi Investment Authority's involvement with the scandal-plagued BCCI bank and Chinese arms exports to Iran. In a straightforward and accessible style, the author examines the complex and amazing growth of an unknown group of investors controlling trillions of dollars worldwide.
Download or read book The Ascendancy of Finance written by Joseph Vogl and published by John Wiley & Sons. This book was released on 2017-06-15 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global financial crisis of 2008 ushered in a system of informal decision-making in the grey zone between economics and politics. Legitimized by a rhetoric of emergency, ad hoc bodies have usurped democratically elected governments. In line with the neoliberal credo, the recent crisis has been used to realize the politically impossible and to re-align executive power with the interests of the finance industry. In this important book, Joseph Vogl offers a much longer perspective on these developments, showing how the dynamics of modern finance capitalism have always rested on a complex and constantly evolving relationship between private creditors and the state. Combining historical and theoretical analysis, Vogl argues that over the last three centuries, finance has become a "fourth estate," marked by the systematic interconnection of treasury and finance, of political and private economic interests. Against this historical background, Vogl explores the latest phase in the financialization of government, namely the dramatic transfer of power from states to markets in the latter half of the 20th century. From the liberalization of credit and capital markets to the privatization of social security, he shows how policy has actively enabled a restructuring of the economy around the financial sector. Political systems are "imprisoned" by the regime of finance, while the corporate model suffuses society, enclosing populations in the production of financial capital. The Ascendancy of Finance provides valuable and unsettling insight into the genesis of modern power and where it truly resides.
Download or read book Money and Debt The Public Role of Banks written by Bart Stellinga and published by Springer Nature. This book was released on 2021 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Open Access book from the Netherlands Scientific Council for Government Policy explains how money creation and banking works, describes the main problems of the current monetary and financial system and discusses several reform options. This book systematically evaluates proposals for fundamental monetary reform, including ideas to separate money and credit by breaking up banks, introducing a central bank digital currency, and introducing public payment banks. By drawing on these plans, the authors suggest several concrete reforms to the current banking system with the aim to ensure that the monetary system remains stable, contributes to the Dutch economy, fairly distributes benefits, costs and risks, and enjoys public legitimacy. This systematic approach, and the accessible way in which the book is written, allows specialized and non-specialised readers to understand the intricacies of money, banking, monetary reform and financial innovation, far beyond the Dutch context [Resumen de la editorial]
Download or read book The Money Problem written by Morgan Ricks and published by University of Chicago Press. This book was released on 2016-03-09 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: An “intriguing plan” addressing shadow banking, regulation, and the continuing quest for financial stability (Financial Times). Years have passed since the world experienced one of the worst financial crises in history, and while countless experts have analyzed it, many central questions remain unanswered. Should money creation be considered a “public” or “private” activity—or both? What do we mean by, and want from, financial stability? What role should regulation play? How would we design our monetary institutions if we could start from scratch? In The Money Problem, Morgan Ricks addresses these questions and more, offering a practical yet elegant blueprint for a modernized system of money and banking—one that, crucially, can be accomplished through incremental changes to the United States’ current system. He brings a critical, missing dimension to the ongoing debates over financial stability policy, arguing that the issue is primarily one of monetary system design. The Money Problem offers a way to mitigate the risk of catastrophic panic in the future, and it will expand the financial reform conversation in the United States and abroad. “Highly recommended.” —Choice
Download or read book Redefining Sovereignty in International Economic Law written by Wenhua Shan and published by Bloomsbury Publishing. This book was released on 2008-04-21 with total page 516 pages. Available in PDF, EPUB and Kindle. Book excerpt: The concept of state sovereignty is increasingly challenged by a proliferation of international economic instruments and major international economic institutions. States from both the south and north are re-examining and debating the extent to which they should cede control over their economic and social policies to achieve global economic efficiency in an interdependent world. International lawyers are seriously rethinking the subject of state sovereignty, in relation to the operation of the main international economic institutions, namely the WTO, the World Bank and the International Monetary Fund (IMF). The contributions in this volume, bringing together leading scholars from the developed and developing worlds, take up the challenge of debating the meaning of sovereignty and the impact of international economic law on state sovereignty. The first part looks at the issues from the perspectives of general international law, international economic law and legal theory. Part two discusses the impact of trade liberalisation on the sovereignty of both industrialised and developing states and Part three concentrates on the challenge to state sovereignty created by the proliferation of investment treaties and the significant recent growth of investment treaty based arbitration cases. Part four focuses on the domestic and international effects of international financial intermediaries and markets. Part five explores the tensions and intersections between the international regulation of trade and investment, international human rights and state sovereignty
