The Cash Nexus: Money and Power in the Modern World, 1700-2000Conventional wisdom has long claimed that economic change is the prime mover of political change, whether in the age of industry or Internet. But is it? Ferguson thinks it is high time we re-examined the link-the nexus, in Thomas Carlyle's phrase-between economics and politics. His central argument is that the conflicting impulses of sex, violence, and power are together more powerful than money. Among Ferguson's startling claims are: · Nothing has done more to transform the world economy than war, yet wars themselves do not have primarily economic causes. · The present age of economic globalization is coinciding-paradoxically-with political and military fragmentation. · Financial crises are frequently caused by unforeseen political events rather than economic fluctuations. · The relationship between prosperity and government popularity is largely illusory. · Since political and economic liberalization are not self-perpetuating, the so-called triumph of democracy worldwide may be short-lived. · A bold synthesis of political history and modern economic theory, Cash Nexus will transform the landscape of modern history and draw challenging conclusions about the prospects of both capitalism and democracy. |
Contents
The Rise and Fall of the Warfare State | 23 |
Hateful Taxes | 51 |
The Commons and the Castle Representation and Administration | 77 |
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Common terms and phrases
American Austria average Bank of England bond market bondholders Bonney Bordo borrowing Britain budget capital cent of GDP central banks Conservative Correlates of War cost countries crises crisis currency debt burden decline default defence deficit democracy democratic early Economist election electoral Europe European exchange rates expenditure figure fiscal foreign France Freedom House French funds German global gold standard Goodhart History Ibid income tax increase inflation institutions interest rates investment investors Italy Kosovo Labour less loans London London Stock Exchange military million modern Monetary Policy Monetary Union national debt nomic parties peak percentage period population Premodern Financial Systems proportion public debt ratio reduce regime revenue Revolution Richard Bonney rise rose Rothschild Russia Second World Second World War sector shares short-term Social Soviet Soviet Union spending stock market taxation tion twentieth century unemployment United vote voters wars yields
References to this book
The International Political Economy of Investment Bubbles Paul Sheeran,Amber Spain No preview available - 2004 |