Questioning credible commitment : perspectives on the rise of financial capitalism / edited by D'Maris Coffman, Adrian Leonard, and Larry Neal.

Format:

Book

Contributor:

Coffman, D'Maris, 1973-

Series:

Macroeconomic policy making

Language:

English

Subjects (All):

Finance, Public--Europe--History.

Finance, Public.

Capital--Europe--History.

Capital.

Credit--Europe--History.

Credit.

History.

Europe--Economic policy.

Europe.

Economic policy.

Genre:

History.

Physical Description:

xvii, 282 pages ; 24 cm.

Place of Publication:

Cambridge : Cambridge University Press, [2013]

Summary:

Financial capitalism emerged in a recognisably modern form in late seventeenth- and eighteenth-century Great Britain. Following the seminal work of Douglass C. North and Barry R. Weingast (1989), many scholars have concluded that the 'credible commitment' that was provided by parliamentary backing of government as a result of the Glorious Revolution of 1688 provided the key institutional underpinning on which modern public finances depend. In this book, a specially commissioned group of historians and economists examine and challenge the North and Weingast thesis to show that multiple commitment mechanisms were necessary to convince public creditors that sovereign debt constituted a relatively accessible, safe and liquid investment vehicle. Questioning Credible Commitment provides academics and practitioners with a broader understanding of the origins of financial capitalism, and, with its focus on theoretical and policy frameworks, shows the significance of the debate to current macroeconomic policy making -- Provided by Publisher.

Notes:

Includes bibliographical references and index.

ISBN:

9781107039018

1107039010

9781299842175

1299842178

9781107418349

1107418348

1107440149

9781107440142

1139856030

9781139856034

1107417090

9781107417090

OCLC:

852224271