The 2008 financial crisis rippled across the globe and triggered a worldwide recession. Unlike the American banking system which experienced massive losses, takeovers, and taxpayer funded bailouts, Canada’s banking system withstood the crisis relatively well and maintained its liquidity and profitability. The divergence in the two banking systems can be traced to their distinct institutional and political histories. From Wall Street to Bay Street is the first book for a lay audience to tackle the similarities and differences between the financial systems of Canada and the United States. Christopher Kobrak and Joe Martin reveal the different paths each system has taken since the early nineteenth-century, despite the fact that they both originate from the British system. The authors trace the roots of each country’s financial systems back to Alexander Hamilton and insightfully argue that while Canada has preserved a Hamiltonian financial tradition, the United States has favoured the populist Jacksonian tradition since the 1830s. The sporadic and inconsistent fashion in which the American system have changed over time is at odds with the evolutionary path taken by the Canadian system. From Wall Street to Bay Street offers a timely and accessible comparison of financial systems that reflects the political and cultural milieus of two of the world’s top ten economies.
The 2008 financial crisis rippled across the globe and triggered a worldwide recession. Unlike the American banking system which experienced massive losses, takeovers, and taxpayer funded bailouts, Canada’s banking system withstood the crisis relatively well and maintained its liquidity and profitability. The divergence in the two banking systems can be traced to their distinct institutional and political histories. From Wall Street to Bay Street is the first book for a lay audience to tackle the similarities and differences between the financial systems of Canada and the United States. Christopher Kobrak and Joe Martin reveal the different paths each system has taken since the early nineteenth-century, despite the fact that they both originate from the British system. The authors trace the roots of each country’s financial systems back to Alexander Hamilton and insightfully argue that while Canada has preserved a Hamiltonian financial tradition, the United States has favoured the populist Jacksonian tradition since the 1830s. The sporadic and inconsistent fashion in which the American system have changed over time is at odds with the evolutionary path taken by the Canadian system. From Wall Street to Bay Street offers a timely and accessible comparison of financial systems that reflects the political and cultural milieus of two of the world’s top ten economies.
The era of globalisation brought waves of consolidation in business ownership alongside Leviathon-like state actors. Digital disruption too can leave market power in a relatively small number of hands. In organisational and economic terms, global oligopoly is now a fundamental idea for business and society, which this book explores and analyses. This book focuses on global oligopolies, starting with an analysis of global concentration and profits in all sectors, before moving on to illuminate the geographical spread and global strategic orientation choices and performance outcomes of global oligopoly. Contemporary cooperation modes, such as cross-border M&As and strategic alliances, niche and Emerging Market champion strategies are also analysed in detail to move the reader towards understanding likely future directions for the field. Presenting empirical data on strategies and performance outcomes, the book covers a range of industries to provide practical, research-based guidance for more effective global business strategies and policy perspectives.
Life is a series of lessons. For the Christian the goal of each is to guide and encourage the student to become a little more like Jesus. For some those lessons are taught in the office or classroom; for others, they arise in the home; for others still those lessons may be taught on the road while traveling from place to place. For me, many of those lessons have come on the hard and often unforgiving streets of Norfolk, Virginia. Some will bring a smile to your face, while others may bring tears. Some result in great victory, while others appear to end in tragedy and defeat. Some may provide answers, while others may raise questions, but all have a common purpose. Each one, when learned, will lead to a closer walk with Jesus Christ. This book is a collection of those lessons written in hopes that you too may be encouraged in your quest to become more like our Savior and Lord Jesus Christ. God is still, as in times past, using the most unsuspecting people to teach some of His most profound lessons. Join with me now as together we let the lessons begin.
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