American empire and the political economy of global finance / edited by Leo Panitch, Martijn Konings.

Format:

Book

Contributor:

Panitch, Leo.

Konings, Martijn, 1975-

Series:

International political economy series (Palgrave Macmillan (Firm))

International political economy series

Language:

English

Subjects (All):

United States--Foreign economic relations.

United States.

International economic relations.

International finance.

Physical Description:

xii, 289 pages ; 23 cm.

Place of Publication:

Basingstoke [England] ; New York : Palgrave Macmillan, 2008.

Summary:

The relationship between states and globalization is one of the burning questions of our time. Providing a lively critique of how international and comparative political economy misjudge the relationship between markets and states, this book demonstrates the American state's central place in today's world of globalized finance. While US military interventions draw most attention to the imperial nature of the American state, the highly original contributions here show how US power is embedded in the structures of global finance. The first part of the volume examines the contours and sources of American financial power, and the second part traces the processes through which the pillars of American power in global finance have been constructed. Taking the analysis right up to the present situation, this book powerfully reveals the role the American state plays in the expansion of international financial markets and in managing the economic crises that emanate from them.

Contents:

1 Demystifying Imperial Finance / Leo Panitch, Martijn Konings 1

Part I Contours and Sources of Imperial Finance 15

2 Finance and American Empire / Leo Panitch, Sam Gindin 17

3 American Finance and Empire in Historical Perspective / Martijn Konings 48

Part II Constructing the Pillars of Imperial Finance 69

4 US Structural Power and the Internationalization of the US Treasury / David Sarai 71

5 Neoliberalism and the Federal Reserve / Eric Newstadt 90

6 US Power and the International Bond Market: Financial Flows and the Construction of Risk Value / Scott Aquanno 119

7 Towards the Americanization of European Finance? The Case of Finance-Led Accumulation in Germany / Thomas Sablowski 135

8 Accounting for Financial Capital: American Hegemony and the Conflict Over International Accounting Standards / Thomas Sablowski 159

9 From Bretton Woods to Neoliberal Reforms: the International Financial Institutions and American Power / Ruth Felder 175

10 The Role of Financial Discipline in Imperial Strategy / Christopher Rude 198

11 The Politics of Imperial Finance / Martijn Konings, Leo Panitch 225.

Notes:

Includes bibliographical references (pages 253-274) and index.

ISBN:

0230551262

9780230551268

OCLC:

222665635