George J. Benston, professor of Finance, Accounting, and Economics at Emory University's Goizueta Business School, died unexpectedly in January 2008. He was an impassioned advocate for corporate integrity and a unique scholar; his research interests were as broad as those of any recent academician. His colleagues have selected and organized his most important papers into two volumes. This second volume consists of his publications in the fields of accounting and finance. The editor has selected a broad range of papers from each of the major areas that are representative of Benston's work in th.
George J. Benston, professor of Finance, Accounting, and Economics at Emory University's Goizueta Business School, died unexpectedly in January 2008. He was an impassioned advocate for corporate integrity and a unique scholar; his research interests were as broad as those of any recent academician. His colleagues have selected and organized his most important papers into two volumes. This second volume consists of his publications in the fields of accounting and finance. The editor has selected a broad range of papers from each of the major areas that are representative of Benston's work in th.
Financial services regulation tends to be costly and unsympathetic to consumers. This book examines why that is the case and proposes and regulatory regime that would be more efficient and more responsive to consumer interests.
Why has the United States experienced so many crippling financial crises? The popular answer: U.S. banks have long been poorly regulated, subjecting the economy to the whims of selfish interest, which must be tempered by more government regulation and centralization. George Selgin turns this conventional wisdom on its head. In essays covering U.S. monetary policy since before the Civil War, he painstakingly traces financial disorder to its source: misguided government regulation, dispelling the myth of the Federal Reserve as a bulwark of stability.
Can the 'invisible hand' handle money? George Selgin challenges the view that government regulation creates monetary order and stability, and instead shows it to be the main source of monetary crisis. The volume is divided into three sections: * Part I refutes conventional wisdom holding that any monetary system lacking government regulation is 'inherently unstable', and looks at the workings of market forces in an otherwise unregulated banking system. * Part II draws on both theory and historical experience to show how various kinds of government interference undermine the inherent efficiency, safety, and stability of a free monetary system. * Part III completes the argument by addressing the popular misconception that a monetary system is unsound unless it delivers a stable output price-level.
Feast of Excess is an engaging and accessible portrait of "The New Sensibility," as it was named by Susan Sontag in 1965. The New Sensibility sought to push culture in extreme directions: either towards stark minimalism or gaudy maximalism. Through vignette profiles of prominent figures-John Cage, Patricia Highsmith, Allen Ginsberg, Andy Warhol, Anne Sexton, John Coltrane, Bob Dylan, Erica Jong, and Thomas Pynchon, to name a few-George Cotkin presents their bold, headline-grabbing performances and places them within the historical moment.
This book explores the potential and problems of bank safety and efficiency arising from the rapidly growing area of cross-border banking in the form of branches or subsidiaries with primarily only national prudential regulation. There are likely to be differences in the treatment of the same bank operating in different countries or of different banks from different home countries operating in the same country with respect to deposit insurance provisions, declaration of insolvency, resolution of insolvencies, and lender of last resort protection. The book identifies these protection problems and discusses possible solutions, such as greater cross-border cooperation, harmonization and organizations. The contributors to this book include experts from different countries and from a wide range of affiliations, including academia, regulators, practitioners, and international organizations. Sample Chapter(s). Chapter 1: Cross-Border Banking Regulation OCo A WayForward: The European Case (68 KB). Contents: Special Addresses: Cross-Border Banking Regulation OCo A Way Forward: The European Case (Stefan Ingves); Remarks before the Conference on International Financial Instability (Sheila C Bair); Benign Financial Conditions, Asset Management, and Political Risks: Trying to Make Sense of Our Times (Raghuram G Rajan); International Financial Instability: Cross-Border Banking and National Regulation Chicago OCo Dinner Remarks (Jean Pierre Sabourin); Landscape of International Banking and Financial Crises: Current State of Cross-Border Banking (Dirk Schoenmaker & Christiaan van Laecke); Actual and Near-Miss Cross-Border Crises (Carl-Johan Lindgren); A Review of Financial Stability Reports (Sander Oosterloo, Jakob de Haan, & Richard Jong-A-Pin); Discussion of Landscape of International Banking and Financial Crises (Luc Laeven); Causes and Conditions for Cross-Border Instability Transmission and Threats to Stability: Cross-Border Contagion Links and Banking Problems in the Nordic Countries (Bent Vale); Currency Crises, (Hidden) Linkages, and Volume (Max Bruche, Jon Danielsson & Gabriele Galati); What Do We Know about the Performance and Risk of Hedge Funds? (Triphon Phumiwasana, Tong Li, James R Barth & Glenn Yago); Remarks on Causes and Conditions of Financial Instability Panel (Garry Schinasi); Prudential Supervision: Home Country versus Cross-Border Negative Externalities in Large Banking Organization Failures and How to Avoid Them (Robert A Eisenbeis); Conflicts between Home and Host Country Prudential Supervisors (Richard J Herring); Cross-Border Nonbank Risks and Regulatory Cooperation (Paul Wright); Challenges in Cross-Border Supervision and Regulation (Eric Rosengren); Government Safety Net: Bagehot and Coase Meet the Single European Market (V tor Gaspar); Banking in a Changing World: Issues and Questions in the Resolution of Cross-Border Banks (Michael Krimminger); International Banks, Cross-Border Guarantees, and Regulation (Andrew Powell & Giovanni Majnoni); Deposit Insurance, Bank Resolution, and Lender of Last Resort OCo Putting the Pieces Together (Thorsten Beck); Insolvency Resolution: Cross-Border Resolution of Banking Crises (Rosa Mar a Lastra); Bridge Banks and Too Big to Fail: Systemic Risk Exemption (David G Mayes); Prompt Corrective Action: Is There a Case for an International Banking Standard? (Mar a J Nieto & Larry D Wall); Insolvency Resolution: Key Issues Raised by the Papers (Peter G Brierley); Cross-Border Crisis Prevention: Public and Private Strategies: Supervisory Arrangements, LOLR, and Crisis Management in a Single European Banking Market (Arnoud W A Boot); Regulation and Crisis Prevention in the Evolving Global Market (David S Hoelscher & David C Parker); Derivatives Governance and Financial Stability (David Mengle); Cross-Border Crisis Prevention: Public and Private Strategies (Gerard Caprio, Jr.); Where to from Here: Policy Panel: Cross-Border Banking: Where to from Here? (Mutsuo Hatano); Remarks on Deposit Insurance Policy (Andrey Melnikov); The Importance of Planning for Large Bank Insolvencies (Arthur J Murton); Where to from Here: Policy Panel (Guy Saint-Pierre); Some Private-Sector Thoughts on Home/Host-Country Supervisory Issues (Lawrence R Uhlick). Readership: Academics and upper-level undergraduate or graduate students in the areas of financial institutions, banking, financial regulation, or international financial markets; financial regulators, policy-makers, and consultants.
This book offers a comprehensive analysis of the ways that politics and financial markets impact one another. In this relationship, politics is the ultimate controlling force. The kinds and prices of financial instruments that get traded and the individuals and institutions that get to trade them, not to mention the rules under which everyone trades, are all matters decisively influenced by an array of political variables - sometimes for the better, but all too often for the worse. The fault for this political skewing of the markets chiefly lies with democracy. Through its commitment to equality and its inclination towards fiscal profligacy, democracy hinders the markets from acting as a greater force for social good. To fix this skewing of finance, democracy’s troubling tendencies must be squarely faced and curbed by a return to its monetary roots. Democracy must reinstall gold at the monetary foundations of our financial markets.
Considered by many to be the godfather of R&B, Johnny Otis—musician, producer, artist, entrepreneur, pastor, disc jockey, writer, and tireless fighter for racial equality—has had a remarkable life by any measure. In this first biography of Otis, George Lipsitz tells the largely unknown story of a towering figure in the history of African American music and culture who was, by his own description, “black by persuasion.” Born to Greek immigrant parents in Vallejo, California, in 1921, Otis grew up in an integrated neighborhood and identified deeply with black music and culture from an early age. He moved to Los Angeles as a young man and submerged himself in the city’s vibrant African American cultural life, centered on Central Avenue and its thriving music scene. Otis began his six-decade career in music playing drums in territory swing bands in the 1930s. He went on to lead his own band in the 1940s and open the Barrelhouse nightclub in Watts. His R&B band had seventeen Top 40 hits between 1950 and 1969, including “Willie and the Hand Jive.” As a producer and A&R man, Otis discovered such legends as Etta James, Jackie Wilson, and Big Mama Thornton. Otis also wrote a column for the Sentinel, one of L.A.’s leading black newspapers, became pastor of his own interracial church, hosted popular radio and television shows that introduced millions to music by African American artists, and was lauded as businessman of the year in a 1951 cover story in Negro Achievements magazine. Throughout his career Otis’s driving passion has been his fearless and unyielding opposition to racial injustice, whether protesting on the front lines, exposing racism and championing the accomplishments of black Americans, or promoting African American musicians. Midnight at the Barrelhouse is a chronicle of a life rich in both incident and inspiration, as well as an exploration of the complicated nature of race relations in twentieth-century America. Otis’s total commitment to black culture and transcendence of racial boundaries, Lipsitz shows, teach important lessons about identity, race, and power while encapsulating the contradictions of racism in American society.
With transnationals now of immense significance to many economies and thus seeming to have immense leverage over host governments, this book looks at what can be done to influence the behaviour of these corporations. With a case study of Glaxo.
This is the first study of the British Women's Liberation Movement's relationship with class politics. It explores the meaning of class to women's liberationists' identities and activism, both nationally and regionally, using a previously neglected feminist cluster in North East England as a case study. Stevenson demonstrates that British feminism was shaped fundamentally by its relationship to, synthesis with, and rejection of class politics. Through these processes, feminists recognised how post-war changes in the economy and gender roles were reshaping class and the Women's Liberation Movement attempted to remake class politics in response. However, socio-economic and cultural class differences between the women involved - linked to occupation, education and background - remained intractable obstacles causing tensions within groups, fragmentations into specific class-based groups and the ultimate failure of the movement to coalesce into a coherent coalition with labour politics, despite great levels of solidarity around particular struggles. Examining regional feminism against the national backdrop, The Women's Liberation Movement and the Politics of Class in Britain provides an engaging exploration of the fruitful but challenging relationship between British feminism and class politics in a capitalist society.
From the white editorial authentication of slave narratives, to the cultural hybridity of the Harlem Renaissance, to the overtly independent publications of the Black Arts Movement, to the commercial power of Oprah's Book Club, African American textuality has been uniquely shaped by the contests for cultural power inherent in literary production and distribution. Always haunted by the commodification of blackness, African American literary production interfaces with the processes of publication and distribution in particularly charged ways. An energetic exploration of the struggles and complexities of African American print culture, this collection ranges across the history of African American literature, and the authors have much to contribute on such issues as editorial and archival preservation, canonization, and the "packaging" and repackaging of black-authored texts. Publishing Blackness aims to project African Americanist scholarship into the discourse of textual scholarship, provoking further work in a vital area of literary study.
The process of selling assests and enterprises to the private sector raises questions about natural monopolies, the efficiency and equity of state-owned versus privately owned enterprises, and industrial policy. This comprehensive analysis of the British privatization program explores these questions both theoretically and empirically.
Historians and economists will find here what their fields have in common - the movement since the 1950s known variously as 'cliometrics', 'economic history', or 'historical economics'. A leading figure in the movement, Donald McCloskey, has compiled, with the help of George Hersh and a panel of distinguished advisors, a highly comprehensive bibliography of historical economics covering the period up until 1980. The book will be useful to all economic historians, as well as quantitative historians, applied economists, historical demographers, business historians, national income accountants, and social historians.
Cross-border banking, while having the potential for a more efficient financial sector, also creates potential challenges for bank supervisors and regulators. This volume discusses topics that include: the landscape of cross-border bank activity, the resulting competitive implications, emerging challenges for prudential regulation, and more. Cross-border banking, while having the potential for a more efficient financial sector, also creates potential challenges for bank supervisors and regulators. It requires cooperation by regulatory authorities across jurisdictions and a clear delineation of authority and responsibility. That delineation is typically not present and regulatory authorities often have significantly different incentives to respond when cross-border-active banks encounter difficulties. Most of these issues have only begun to be seriously evaluated. This volume, one of the first attempts to address these issues, brings together experts and regulators from different countries. The wide range of topics discussed include: the current landscape of cross-border bank activity, the resulting competitive implications, emerging challenges for prudential regulation, safety net concerns, failure resolution issues, and the potential future evolution of international banking.
George Selgin is one of the world's foremost monetary historians. In this book, based on the 2016 Hayek Memorial Lecture, he shows how a system of private banks without a central bank can bring about financial stability through self-regulation. If one bank stretches credit too far, it will be reined in by the others before the system as a whole gets out of control. The banks have a strong incentive to ensure an orderly resolution if a particular bank is facing insolvency or illiquidity. Selgin draws on evidence from the era of 'free banking' in Scotland and Canada. These arrangements enjoyed greater financial stability, with fewer banking crises, than the English system with its central bank and the US model with its faulty government regulation. The creation of the Federal Reserve appears to have increased the frequency of financial crises. The book also includes commentaries by Kevin Dowd and Mathieu Bédard. Dowd asks whether free-banking systems should be underpinned by a gold standard, which he regards as a tried-and-tested institution at the heart of their success. Bédard challenges the assumption that the banking sector is inherently unstable and therefore requires state intervention. He argues that increases in government control have made the banking system more prone to crisis.
Families of Antrim, New Hampshire comprises the second half of W. R. Cochrane's centennial history of the town, in which the compiler endeavored to record the genealogy, however fragmentary, of every family born or associated with Antrim from 1777 to the time of the book's publication in 1880. Many of the genealogies, it should be noted, span the town's 100-year history to 1877 and/or are replete with biographical information on their subjects. Arranged alphabetically by surname, the sketches number nearly 1,000.
A must-read! The stories in this book will transport you to a time after World War II, when children were seen but not heard, and when needed, psychology was applied to the right end—a time when there were no telephones, televisions, cell phones, or computers, and children had to rely upon themselves to create games and play outside, a time when almost everyone in town knew your parents and had their permission to correct you if needed. And don’t do anything wrong at school because your parents will know before you get home. The stories may not be in chronological order, yet some will remind you of a time in your life when you did the same thing or wish you had. The stories are short and hilarious, covering a period in the author’s life from early childhood until he graduated from high school.
In Leading Digital, authors George Westerman, Didier Bonnet, and Andrew McAfee highlight how large companies in traditional industries—from finance to manufacturing to pharmaceuticals—are using digital to gain strategic advantage. They illuminate the principles and practices that lead to successful digital transformation. Based on a study of more than four hundred global firms, including Asian Paints, Burberry, Caesars Entertainment, Codelco, Lloyds Banking Group, Nike, and Pernod Ricard, the book shows what it takes to become a Digital Master. It explains successful transformation in a clear, two-part framework: where to invest in digital capabilities, and how to lead the transformation. Within these parts, you’ll learn: • How to engage better with your customers • How to digitally enhance operations • How to create a digital vision • How to govern your digital activities The book also includes an extensive step-by-step transformation playbook for leaders to follow." -- From the Amazon
If flexible exchange rates are not adopted, central banks should at least avoid the widespread practice of trying to sterilise the monetary effects of capital flows." "The author argues that the implementation of this plan will be a far more effective way of enhancing financial stability than controlling international capital flows, or trying to force private lenders to make new loans to countries that suffer crises."--BOOK JACKET.
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