William Ewart Gladstone (1809–98) was the outstanding statesman of the Victorian age. He was an MP for over sixty years, a long serving and exceptional Chancellor of the Exchequer and four times Prime Minister. As the leader of the Liberal party over three decades, he personified the values and policies of later Victorian Liberalism. Gladstone, however, was always more than just a politician. He was also a considerable scholar, a dedicated Churchman and had a range of interests and connections that made him, in many respects, the quintessential Victorian. Yet important aspects of Gladstone's life have received relatively little recent attention from historians. This study reappraises Gladstone by focusing on five themes: his reputation; his representation in visual and material culture; his personal life; his role as an official; and the ethical and political basis of his international policies. This collection of original, often multidisciplinary studies, provides new perspectives on Gladstone's public and private life. As such, it illustrates the many-sided nature of his career and the complexities of his personality.
Jane Austen’s England was littered with remnants of medieval religion. From her schooling in the gatehouse of Reading Abbey to her visits to cousins at Stoneleigh Abbey, Austen faced constant reminders of the wrenching religious upheaval that reordered the English landscape just 250 years before her birth. Drawing attention to the medieval churches and abbeys that appear frequently in her novels, Moore argues that Austen’s interest in and representation of these spaces align her with a long tradition of nostalgia for the monasteries that had anchored English life for centuries until the Reformation. Converted monasteries serve as homes for the Tilneys in Northanger Abbey and Mr. Knightley in Emma, and the ruins of the 'Abbeyland' have a prominent place in Sense and Sensibility. However, these and other formerly sacred spaces are not merely picturesque backgrounds, but tangible reminders of the past whose alteration is a source of regret and disappointment. Moore uncovers a pattern of critique and commentary throughout Austen’s works, but he focuses in particular on Northanger Abbey, Mansfield Park, and Sanditon. His juxtaposition of Austen’s novels with sixteenth- and seventeenth-century texts rarely acknowledged as relevant to her fiction enlarges our understanding of Austen as a commentator on historical and religious events and places her firmly in the long national conversation about the meaning and consequences of the Reformation.
Pacific island countries face unique challenges to realizing their growth potential and raising living standards. This book discusses ongoing challenges facing Pacific island countries and policy options to address them. Regional cooperation and solutions tailored to their unique challenges, as well as further integration with the Asia and Pacific region will each play a role. With concerted efforts, Pacific island countries can boost potential growth, increase resilience, and improve the welfare of their citizens.
The paper looks at feasible concrete action that can be taken by correspondent and respondent banks, money transfer operators, the Pacific authorities, the Australian and New Zealand authorities, and international organizations.
Major transformations in payment and settlements have occurred in generations. The first generation was paper-based. Delivery times for payment instruments took several days domestically and weeks internationally. The second generation involved computerization with batch processing. Links between payment systems were made through manual or file-based interfaces. The change-over period between technologies was long and still some paper-based instruments like checks and cash remain in use. The third generation, which has been emerging, involves electronic and mobile payment schemes that enable integrated, immediate, and end-to-end payment and settlement transfers. For example, real-time gross settlement systems have been available in almost all countries. DLT has been viewed as a potential platform for the next generation of payment systems, enhancing the integration and the reconciliation of settlement accounts and their ledgers. So far, experiments with DLT experimentations point to the potential for financial infrastructures to move towards real-time settlement, flatter structures, continuous operations, and global reach. Testing in large-value payments and securities settlement systems have partly demonstrated the technical feasibility of DLT for this new environment. The projects examined analyzed issues associated with operational capacity, resiliency, liquidity savings, settlement finality, and privacy. DLT-based solutions can also facilitate delivery versus payment of securities, payment versus payment of foreign exchange transactions, and efficient cross-border payments.
The mastery of nature was viewed by eighteenth-century historians as an important measure of the progress of civilization. Modern scholarship has hitherto taken insufficient notice of this important idea. This book discusses the topic in connection with the mainstream religious, political, and philosophical elements of Enlightenment culture. It considers works by Edward Gibbon, Voltaire, Herder, Vico, Raynal, Hume, Adam Smith, William Robertson, and a wide range of lesser- and better-known figures. It also discusses many classical, medieval, and early modern sources which influenced Enlightenment historiography, as well as eighteenth-century attitudes toward nature in general.
Defoe's Writings and Manliness is a timely intervention in Defoe studies and in the study of masculinity in eighteenth-century literature more generally. Arguing that Defoe's writings insistently returned to the issues of manliness and its contrary, effeminacy, this book reveals how he drew upon a complex and diverse range of discourses through which masculinity was discussed in the period. It is for this reason that this book crosses over and moves between modern paradigms for the analysis of eighteenth-century masculinity to assess Defoe's men. A combination of Defoe's clarity of vision, a spirit of contrariness and a streak of moral didacticism resulted in an idiosyncratic and restless testing of the forces surrounding his period's ideas of manliness. Defoe's men are men, but they are never unproblematically so: they display a contrariness which indicates that a failure of manliness is never very far away.
This well-documented study examines one of the increasingly pressing problems for US homeland security: the storage and management of radioactive waste. Despite pressing homeland security and energy security concerns associated with highly radioactive waste, political considerations have prevented policy makers from adopting adequate long-term solutions to the problem. This book explores nuclear waste problems through the broader lens of federal, state and local government and the resultant constraints on policy that emerge within the American political system. Presenting specific case studies to highlight the deficiencies in current policy and planning as well as the possibility of terrorist activity, it is highly suited to courses on security studies and environmental politics.
Are the three Baltic countries, Latvia, Estonia, and Lithuania, ready for accession to the European Union? Have their economies overcome the problems of transition? The answers to these questions and their implications for policy are provided in this collection of analyses. Rather than a country-by-country description, the volume provides a cross-country perspective of developments from 1994 through mid-1997. The seven sections of this paper discuss recent macroeconomic and structural policies, exchange rate regimes, fiscal issues, financial systems, private sector development, and accession to the European Union.
Joanna Newsom, Will Oldham (a.k.a. 'Bonnie Prince Billy'), and Devendra Banhart are perhaps the best known of a generation of independent artists who use elements of folk music in contexts that are far from traditional. These (and other) so called ‘new folk’ artists challenge our notions of 'finished product' through their recordings, intrinsically guided by practices and rhetoric inherited from punk. This book traces a fractured trajectory that includes Harry Smith's Anthology of American Folk Music, Bob Dylan, psych-folk of the sixties (from Vashti Bunyan to John Fahey), lo-fi and outsider recordings (from Captain Beefheart and The Residents to Jandek, Daniel Johnston and Smog), and recent experimental folk (Animal Collective, Six Organs of Admittance, Charalambides) to contextualise the first substantial consideration of new folk. In the process, Encarnacao reviews the literature on folk and punk to argue that tropes of authenticity, though constructions, carry considerable power in the creation and reception of recorded works. New approaches to music require new analytical tools, and through the analysis of some 50 albums, Encarnacao introduces the categories of labyrinth, immersive and montage forms. This book makes a compelling argument for a reconsideration of popular music history that highlights the eternal compulsion for spontaneous, imperfect and performative recorded artefacts.
This paper explores the role of exchange rates in emerging economies with inflation-targeting regimes, an issue that has become especially germane during the current episode of financial turmoil and volatile capital flows. Under inflation targeting, the interest rate is the main monetary policy tool for influencing activity and inflation, and there is little agreement about the appropriate role of the exchange rate.The exchange rate is a more important monetary policy tool for emerging economies that have adopted inflation targeting than it is for inflation-targeting advanced economies. Inflation-targeting emerging economies generally have less flexible exchange rate arrangements and intervene more frequently in the foreign exchange market than their advanced economy counterparts. The enhanced role of the exchange rate reflects these economies' greater vulnerability to exchange rate shocks and their less developed financial markets. However, their sharper focus on the exchange rate may cause some confusion about the commitment of their central banks to achieve the inflation target and may also complicate policy implementation. Global inflation pressures, greater exchange rate volatility, and the financial stresses from the global financial turmoil that began in mid-2007 are heightening these tensions.
After moving slowly downward for the better part of four decades, central bank gold holdings have risen since the Global Financial Crisis. We identify 14 “active diversifiers,” defined as countries that purchased gold and raised its share in total reserves by at least 5 percentage points over the last two decades. In contrast to the diversification of foreign currency reserves, which has been undertaken by advanced and developing country central banks alike, active diversifiers into gold are exclusively emerging markets. We document two sets of factors contributing to this trend. First, gold appeals to central bank reserve managers as a safe haven in periods of economic, financial and geopolitical volatility, when the return on alternative financial assets is low. Second, the imposition of financial sanctions by the United States, United Kingdom, European Union and Japan, the main reserve-issuing economies, is associated with an increase in the share of central bank reserves held in the form of gold. There is some evidence that multilateral sanctions imposed by these, and other countries have a larger impact than unilateral sanctions on the share of reserves held in gold, since the latter leave scope for shifting reserves into the currencies of other non-sanctioning countries.
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