This daring attempt to juxtapose the histories of Britain, western science, and imperialism shows how colonial expansion, from the age of Alexander the Great to the 20th century, led to complex kinds of knowledge.
A sweeping look at the evolution of commercial banks over the past two centuries Commercial banks are among the oldest and most familiar financial institutions. When they work well, we hardly notice; when they do not, we rail against them. What are the historical forces that have shaped the modern banking system? In Unsettled Account, Richard Grossman takes the first truly comparative look at the development of commercial banking systems over the past two centuries in Western Europe, the United States, Canada, Japan, and Australia. Grossman focuses on four major elements that have contributed to banking evolution: crises, bailouts, mergers, and regulations. He explores where banking crises come from and why certain banking systems are more resistant to crises than others, how governments and financial systems respond to crises, why merger movements suddenly take off, and what motivates governments to regulate banks. Grossman reveals that many of the same components underlying the history of banking evolution are at work today. The recent subprime mortgage crisis had its origins, like many earlier banking crises, in a boom-bust economic cycle. Grossman finds that important historical elements are also at play in modern bailouts, merger movements, and regulatory reforms. Unsettled Account is a fascinating and informative must-read for anyone who wants to understand how the modern commercial banking system came to be, where it is headed, and how its development will affect global economic growth.
The definitive account of the trillion-dollar payment card industry. The payment card business has evolved from its inception in the 1950s as a way to handle payment for expense-account lunches (the Diners Club card) into today's complex, sprawling industry that drives trillions of dollars in transaction volume each year. Paying with Plastic is the definitive source on an industry that has revolutionized the way we borrow and spend. More than a history book, Paying with Plastic delivers an entertaining discussion of the impact of an industry that epitomizes the notion of two-sided markets: those in which two or more customer groups receive value only if all sides are actively engaged. New to this second edition, the two-sided market discussion provides useful insight into the implications of these market dynamics for cardholder rewards, merchant interchange fees, and card acceptance. The authors, both of whom have researched the industry for more than 25 years, also examine the implications of the recent antitrust cases on the industry as well as other business and technological changes—including the massive consolidation brought about by bank mergers, the rise of the debit card, and the emergence of e-commerce—that could alter the payment card industry dramatically in the years to come.
This book incorporates classic and contemporary readings in economic sociology and related disciplines to provide students with a broad understanding of the many dimensions of economic life. It discusses Max Weber's key concepts in economics and sociology.
Unparalleled coverage of U.S. political development through a unique chronological framework Encyclopedia of U.S. Political History explores the events, policies, activities, institutions, groups, people, and movements that have created and shaped political life in the United States. With contributions from scholars in the fields of history and political science, this seven-volume set provides students, researchers, and scholars the opportunity to examine the political evolution of the United States from the 1500s to the present day. With greater coverage than any other resource, the Encyclopedia of U.S. Political History identifies and illuminates patterns and interrelations that will expand the reader’s understanding of American political institutions, culture, behavior, and change. Focusing on both government and history, the Encyclopedia brings exceptional breadth and depth to the topic with more than 100 essays for each of the critical time periods covered. With each volume covering one of seven time periods that correspond to key eras in American history, the essays and articles in this authoritative encyclopedia focus on the following themes of political history: The three branches of government Elections and political parties Legal and constitutional histories Political movements and philosophies, and key political figures Economics Military politics International relations, treaties, and alliances Regional histories Key Features Organized chronologically by political eras Reader’s guide for easy-topic searching across volumes Maps, photographs, and tables enhance the text Signed entries by a stellar group of contributors VOLUME 1 ?Colonial Beginnings through Revolution ?1500–1783 ?Volume Editor: Andrew Robertson, Herbert H. Lehman College ?The colonial period witnessed the transformation of thirteen distinct colonies into an independent federated republic. This volume discusses the diversity of the colonial political experience—a diversity that modern scholars have found defies easy synthesis—as well as the long-term conflicts, policies, and events that led to revolution, and the ideas underlying independence. VOLUME 2 ?The Early Republic ?1784–1840 ?Volume Editor: Michael A. Morrison, Purdue University No period in the history of the United States was more critical to the foundation and shaping of American politics than the early American republic. This volume discusses the era of Confederation, the shaping of the U.S. Constitution, and the development of the party system. VOLUME 3 ?Expansion, Division, and Reconstruction ?1841–1877 ?Volume Editor: William Shade, Lehigh University (emeritus) ?This volume examines three decades in the middle of the nineteenth century, which witnessed: the emergence of the debate over slavery in the territories, which eventually led to the Civil War; the military conflict itself from 1861 until 1865; and the process of Reconstruction, which ended with the readmission of all of the former Confederate States to the Union and the "withdrawal" of the last occupying federal troops from those states in 1877. VOLUME 4 ?From the Gilded Age through the Age of Reform ?1878–1920 ?Volume Editor: Robert Johnston, University of Illinois at Chicago With the withdrawal of federal soldiers from Southern states the previous year, 1878 marked a new focus in American politics, and it became recognizably modern within the next 40 years. This volume focuses on race and politics; economics, labor, and capitalism; agrarian politics and populism; national politics; progressivism; foreign affairs; World War I; and the end of the progressive era. VOLUME 5 ?Prosperity, Depression, and War ?1921–1945 ?Volume Editor: Robert Zieger, University of Florida Between 1921 and 1945, the U.S. political system exhibited significant patterns of both continuity and change in a turbulent time marked by racist conflicts, the Great Depression, and World War II. The main topics covered in this volume are declining party identification; the "Roosevelt Coalition"; evolving party organization; congressional inertia in the 1920s; the New Deal; Congress during World War II; the growth of the federal government; Franklin D. Roosevelt’s presidency; the Supreme Court’s conservative traditions; and a new judicial outlook. VOLUME 6 ?Postwar Consensus to Social Unrest ?1946–1975 ?Volume Editor: Thomas Langston, Tulane University This volume examines the postwar era with the consolidation of the New Deal, the onset of the Cold War, and the Korean War. It then moves into the 1950s and early 1960s, and discusses the Vietnam war; the era of John F. Kennedy; the Cuban Missile Crisis; the Civil Rights Act; Martin Luther King and the Voting Rights Act; antiwar movements; The War Powers Act; environmental policy; the Equal Rights Amendment; Roe v. Wade; Watergate; and the end of the Vietnam War. VOLUME 7 ?The Clash of Conservatism and Liberalism ?1976 to present ?Volume Editor: Richard Valelly, Swarthmore College ?The troubled Carter Administration, 1977–1980, proved to be the political gateway for the resurgence of a more ideologically conservative Republican party led by a popular president, Ronald Reagan. The last volume of the Encyclopedia covers politics and national institutions in a polarized era of nationally competitive party politics and programmatic debates about taxes, social policy, and the size of national government. It also considers the mixed blessing of the change in superpower international competition associated with the end of the Cold War. Stateless terrorism (symbolized by the 9/11 attacks), the continuing American tradition of civil liberties, and the broad change in social diversity wrought by immigration and the impact in this period of the rights revolutions are also covered.
The twelfth edition of this bestselling textbook has been revised and updated to offer Economics students a comprehensive introduction to Economics and its core principles. New case studies and boxed examples, in-depth explanations and an expanded Online Resource Centre will help students to progress with their studies.
This eye-opening book offers a disturbing new look at Japan's post-war economy and the key factors that shaped it. It gives special emphasis to the 1980s and 1990s when Japan's economy experienced vast swings in activity. According to the author, the most recent upheaval in the Japanese economy is the result of the policies of a central bank less concerned with stimulating the economy than with its own turf battles and its ideological agenda to change Japan's economic structure. The book combines new historical research with an in-depth behind-the-scenes account of the bureaucratic competition between Japan's most important institutions: the Ministry of Finance and the Bank of Japan. Drawing on new economic data and first-hand eyewitness accounts, it reveals little known monetary policy tools at the core of Japan's business cycle, identifies the key figures behind Japan's economy, and discusses their agenda. The book also highlights the implications for the rest of the world, and raises important questions about the concentration of power within central banks.
In recent years, the major industrialized nations have developed cooperative procedures for supervising banks, harmonized their standards for bank capital requirements, and initiated cooperative understanding about securities market supervision. This book assesses what further coordination and harmonization in financial regulation will be required in an era of increased globalization. A volume of Brookings' Integrating National Economies Series
This book lays out the forces that necessitate a strategy, shows how the competitive forces are affecting different financial centers and provides a policy framework for strategy development. It is essential for public officials, policy makers, legislators, scholars, and people in business.
The Law of Financial Institutions provides the foundation for a successful course on the law of traditional commercial banks. The book’s clear writing, careful editing, timely content, and concise explanations to provocative questions make a difficult field of law lively and interesting. New to the Seventh Edition: Unified analysis of different types of financial institution under a common framework, using simple mock balance sheets as a way of vividly illustrating the similarities and differences and bringing out the features that lend stability or instability to the financial system. A new chapter dealing with the important topic of financial technology. Extensive treatment of liquidity regulation, one of the most fundamental strategies for ensuring bank safety and soundness. A clear and coherent discussion of capital regulation and provides up-to-date explanations and simple examples of the complex issues surrounding capital adequacy applicable to banks today. A clear, coherent, and interesting account of the essential nature of the banking firm as a financial intermediary that acts as a payment service provider. Text that addresses issues of compliance and risk management that have become central to the management of banking institutions in the years since the financial crisis. Professors and student will benefit from: Important new contributions from Professor Peter Conti-Brown, a nationally renowned expert in banking policy and history Completely revised and updated to reflect important regulatory initiatives and trends Answers to all problem sets available to adopting professors Focuses on topics from economic, political, and doctrinal point of view Interesting and provocative questions with explanations Extensive use of nontraditional materials and professor-written discussions and explanations Excellent organization and careful editing
Written to engage you with real world issues and questions in economics, this book provides up-to-date coverage of the financial crisis and its many subsequent implications, which are vital to understanding today's economic climate. Case studies help you to understand how economics works in practice, and to think critically"--Back cover.
Reviews and compiles the latest statistics on the incidence and societal cost of identity theft (IT). Generally, IT or identity fraud involves "stealing" another person's personal identifying info. -- such as Social Security number, date of birth, and mother's maiden name -- and then using the info. to fraudulently establish credit, run up debt, or take over existing financial accounts. This report provides info. on: the extent or prevalence of IT; the cost of IT to the financial services industry, including direct fraud losses, staffing of fraud departments, and effect on consumer confidence in online commerce; the cost of IT to victims, including victim productivity losses, out-of-pocket expenses, and cost of being denied credit; and the cost of IT to the Fed. criminal justice system.
Get a new perspective from the ‘other half’ of macroeconomics The failure of the vast majority of economists in government, academia and the private sector to predict either the post-2008 Great Recession or the degree of its severity has raised serious credibility issues for the profession. The repeated failures of central banks and other policymakers in all advanced countries to meet their inflation or growth targets in spite of astronomical monetary easing, have left the public rightfully suspicious of the establishment and its economists. The Other Half of Macroeconomics and the Fate of Globalization elucidates what was missing in economics all along and what changes are needed to make the profession relevant to the economic challenges of today. Once the other half of macroeconomics is understood both as a post-bubble phenomenon and as a phase of post-industrial economies, it should be possible for policy makers to devise appropriate measures to overcome difficulties advanced countries are facing today such as stagnation and income inequality. • Shows how it’s possible to devise appropriate policy response to slow wage and productivity growth in these economies • Demonstrates that the effectiveness of monetary and fiscal policy changes as an economy undergoes different stages of development • Argues that tax rules, regulations and even educational system must be revised to match the need of pursued (by emerging nations) countries • Explains the 200-year process of economic development and where that process is taking all of us Inside, Richard C. Koo offers a completely new way of looking at the economic predicament of advanced countries today.
In this unique, well-illustrated book, readers learn how fifty financial corporations came to dominate the U.S. banking system and their impact on the nation's political, social, and economic growth. A story that spans more than two centuries of war, crisis, and opportunity, this account reminds readers that American banking was never a fixed enterprise but has evolved in tandem with the country. More than 225 years have passed since Alexander Hamilton created one of the nation's first commercial banks. Over time, these institutions have changed hands, names, and locations, reflecting a wave of mergers, acquisitions, and other restructuring efforts that echo changes in American finance. Some names, such as Bank of America and Wells Fargo, will be familiar to readers. The origins of others, including Zions Bancorporation, founded by Brigham Young and owned by the Mormon Church until 1960, are surprising. Exploring why some banks failed and others thrived, this book wonders, in light of the 2008 financial crisis, whether recent consolidations have reached or even exceeded economically rational limits. A key text for navigating the complex terrain of American finance, this volume draws a fascinating family tree for projecting the financial future of a nation.
In Pursued Economy: Understanding and Overcoming the Challenging New Realities for Advanced Economies, celebrated economist and thought leader Richard C. Koo dives deep into the failure of traditional economic solutions to address the economic and social problems of post-Great Recession and post-pandemic economies. Starting with the original concepts of balance sheet recessions and global competition for capital, the author explains why the Great Recession lasted for so long and why well-intentioned policies that worked so well in the past are no longer working today. Readers will discover that advanced economies moved from what the author calls the "golden era" to the "pursued era" of economic development long ago, but the policy debate in these countries continues to be informed by golden era assumptions that are no longer relevant but are still taught in universities. That mismatch has led to an over-reliance on monetary policy and an under-reliance on fiscal policy that are distorting economies and worsening inequality in a profoundly transformed world. With many real-world examples from the author's extensive involvement in the policy debate on economic, banking and trade issues in several countries, including the U.S., the book describes the correct policy mix in the pursued era as distinct from that in the golden era. It also explains the challenges central banks face in fighting inflation after a decade of over-reliance on monetary policy that flooded the world’s economies with unprecedented liquidity. Instead of simply assuming the existence of "trend growth rates", this book tackles the issue of economic growth head-on so as to elucidate the symmetry between the drivers of growth and the drivers of recession. It also argues that the fundamental disconnect between free trade and free capital movements must be addressed in order to maximize the gains from globalization while minimizing its costs. Written in simple language and with a great sense of urgency, Pursued Economy should be of interest to anyone who is concerned about the global economy, financial stability and geopolitics.
For both contemporaries and later historians the Industrial Revolution is viewed as a turning point' in modern British history. There is no doubt that change occurred, but what was the nature of that change and how did affect rural and urban society? Beginning with an examination of the nature of history and Britain in 1700, this volume focuses on the economic and social aspects of the Industrial Revolution. Unlike many previous textbooks on the same period, it emphasizes British history, and deals with developments in Wales, Scotland, and Ireland in their own right. It is the emphasis on the diversity, not the uniformity of experience, on continuities as well as change in this crucial period of development, which makes this volume distinctive. In his companion title Richard Brown completes his examination of the period and looks at the changes that took place in Britain's political system and in its religious affiliations.
As a core volume in the Dynamics of Economic Space series, contributors from North America, Australasia, Europe and the Middle East each address the constitutive processes of new economic and institutional spaces and the theoretical, methodological and policy-engaging practices of emerging economic geographies. Together, they provide a timely and important overview of the current debates about the geographies of economic change. As national and regional economies change rapidly, so the frameworks, concepts and methods used to describe and analyse those processes also need to evolve. This volume puts forward a comprehensive analysis of a range of different and innovative means currently available, through which to view regional economic activities and interactions.
Japan has become the world's second largest economy and the number one exporter of financial capital. Tokyo has taken its place as a first-tier financial centre alongside London and New York. This study analyses the far-reaching effects of these developments on both Japan and the world capital markets.
In this, the second part of his history of the Industrial Revolution, Richard Brown examines the political and religious developments which took place in Britain between the 1780s and 1840s in terms of the aristocratic elite and through the expression of alternative radical ideologies. Opening with a discussion of the nature of history, and of Britain in 1700, it goes on to consider Britain's foreign policy, the emergence of the modern state and the mid-century 'crisis' of the 1840s. Unlike many previous works, it emphasises British not just English history. It is this diversity of experience and the focus on continuity as well as change, women as well as men, that makes this a distinctive text. Students will also find the theoretical foundations of historical narrative and analysis clearly explained.
According to a recent World Bank study of remittances, Bangladesh, India, Pakistan and Sri Lanka are all among the top 20 receivers of remittances, with estimated receipts of US$3.2 billion, US$8.4 billion and U.S$ 1.5 billion respectively. 'Migrant Labor Remittances in South Asia' identifies and discusses the key issues affecting the remittance industry in South Asia. It examines the development and implementation of policies, processes, and infrastructure to foster a development-oriented transfer of financial resources between migrants in developed economies and their families in the region. Rather than duplicate previous remittances work, this title only focuses on the region?s distinguishing characteristics, namely: --A large migrant population of semi-skilled and unskilled workers largely concentrated in the Arabian Gulf countries, particularly Saudi Arabia and the United Arab Emirates. --The presence of dedicated public institutions and government financial incentives aimed at facilitating and providing incentives for temporary migration and remittance inflows --The existence of large state bank branch networks with immense potential for a more effective and efficient remittance financial market. --The widespread usage of trade related informal remittance channels by both legal and illegal migrants. The book is intended for policymakers who legislate and regulate the financial sector, as well as for researchers and providers of remittance services.
This book analyzes nine Supreme Court decisions that dealt primarily with money, monetary events, and monetary policy, from McCulloch v. Maryland in 1819 to the Gold Clause Cases in 1934-35. In doing so, it explains how both the gold standard and central bank work, how the former gave way to the latter, and how the Federal Reserve became unconstitutional.
By many measures, London is now the leading financial center in the world, outpacing New York City and Hong Kong. Ignorance about The City, London's financial district, is no longer an option for those doing business in the global financial markets. The second edition of The City provides updated, comprehensive, and relevant coverage of what goes on in London’s financial services sector and its evolution as the leading financial center in Europe. Essential reading for City and international financial professionals, policy makers, investors, and those seeking a well-paid City career, this book explains how every facet of the City works and why it matters.
Ratings, Rating Agencies and the Global Financial System brings together the research of economists at New York University and the University of Maryland, along with those from the private sector, government bodies, and other universities. The first section of the volume focuses on the historical origins of the credit rating business and its present day industrial organization structure. The second section presents several empirical studies crafted largely around individual firm-level or bank-level data. These studies examine (a) the relationship between ratings and the default and recovery experience of corporate borrowers, (b) the comparability of credit ratings made by domestic and foreign rating agencies, and (c) the usefulness of financial market indicators for rating banks, among other topics. In the third section, the record of sovereign credit ratings in predicting financial crises and the reaction of financial markets to changes in credit ratings is examined. The final section of the volume emphasizes policy issues now facing regulators and credit rating agencies.
Economics: Private and Public Choice, Second Edition deals with modern Keynesian theory, monetarist theory, collective decision-making, and the traditional demand-side of macroeconomics. The book explains economic principles, such as taxation, government expenditure, public choice theory, rate of employment, aggregate supply, fiscal policy, low productivity, inflation, and adaptive expectation hypothesis. The text also covers microeconomics, particularly, capital interest, profits, energy market, and the indifference curve analysis. The book discusses inequality, income mobility, and the battle against poverty where a market system can encourage the careful use of resources, high productivity, and freedom of choice for individuals to bear the costs and reap the benefits. The text points out that income redistribution can result in some conflicts. As an example, the book analyzes income inequality in the United Sates, income inequality in other countries, as well as its causes. The book also describes the characteristics of less developed countries as having low per capita income, dominance of agriculture-household sector, rapid population growth, income that is more unequally distributed, including inadequate health care and education. The book is suitable for economists, sociologists, and policy makers involved in national economic development.
Macroeconomics: Private and Public Choice discusses the principle of macroeconomics, particularly government expenditure, taxation, public choice theory, and labor markets. The book also covers aggregate supply, fiscal policy, inflation, unemployment, traditional Keynesian theory, low productivity, rapid inflation. The text explains international economics and comparative systems such as the export-import link, export taxes, and foreign finance. It analyzes the existence of trade barriers as being due to domestic protectionism policies, special interest nature of trade restrictions, and economic illiteracy. The book examines the economics of government failure, namely, the collective decision-making process as being both beneficial and limited of public sector economic action. Among the reasons cited for government failure are voter ignorance, inefficient public policy, existence of special interests, imprecise knowledge of consumer preferences, as well as government shortsightedness. The book also examines why government intervention in some activities can be beneficial, for example, weak market competition or monopoly, uninformed consumers, and when conditions of external benefits can be achieved. Economists, sociologists, professors in economics, or policy makers involved in economic and rural development will find the text valuable.
This book examines the political origins of financial institutions in the US, France, Japan, Austria and Germany, seeking to trace and explain each nation’s distinctive capitalist arrangements.
This will help us customize your experience to showcase the most relevant content to your age group
Please select from below
Login
Not registered?
Sign up
Already registered?
Success – Your message will goes here
We'd love to hear from you!
Thank you for visiting our website. Would you like to provide feedback on how we could improve your experience?
This site does not use any third party cookies with one exception — it uses cookies from Google to deliver its services and to analyze traffic.Learn More.