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. |
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Page 48
... defence between 1885 and 1913 - though this average was undoubtedly inflated by the relatively high cost of the 1904-5 war with Japan . Between 1915 and 1917 the military burden also probably rose slightly higher than those of the other ...
... defence between 1885 and 1913 - though this average was undoubtedly inflated by the relatively high cost of the 1904-5 war with Japan . Between 1915 and 1917 the military burden also probably rose slightly higher than those of the other ...
Page 407
... defence spending causes economic slow- down , " but rather how the economy was structured . " If [ an ] economy is growing briskly , " he argued , " possesses a flourishing manufacturing base , is at the forefront of new technologies ...
... defence spending causes economic slow- down , " but rather how the economy was structured . " If [ an ] economy is growing briskly , " he argued , " possesses a flourishing manufacturing base , is at the forefront of new technologies ...
Page 408
... defence spending . Certainly , the Strategic Defence Initiative does not seem to have played as big a part in it as Reagan himself was led to believe.71 The reality was that a planned economy had been the right model for waging a full ...
... defence spending . Certainly , the Strategic Defence Initiative does not seem to have played as big a part in it as Reagan himself was led to believe.71 The reality was that a planned economy had been the right model for waging a full ...
Contents
The Rise and Fall of the Warfare State | 23 |
Hateful Taxes | 51 |
Public Debts | 105 |
Copyright | |
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Common terms and phrases
accounted American Austria average Bank of England bond market bondholders Bonney Bordo borrowing Britain British budget capital cent of GDP central banks Conservative consols Correlates of War cost countries crisis currency debt burden debt service decline default defence deficit democracy democratic early economic Economist election electoral Europe European exchange rates expenditure federal figure fiscal foreign France Freedom House French funding German globalization gold standard growth hyperinflation Ibid income tax increase inflation institutions interest rates investment investors issued Italy Labour less loans London major military million modern Monetary Policy national debt nomic parties payments peak percentage period political population proportion public debt ratio reduce regime revenue Revolution rise rose Rothschild Russia Second World Second World War sector shares short-term Source Soviet Soviet Union spending stock market taxation tended tion 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 |