| Who Elected the Bankers? Contributor(s): Pauly, Louis W. (Author) |
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ISBN: 0801433223 ISBN-13: 9780801433221 Publisher: Cornell University Press OUR PRICE: $74.66 Product Type: Hardcover - Other Formats Published: March 1997 Annotation: A former banker and staff member of the International Monetary Fund, Louis W. Pauly explains why people are deeply concerned about the emergence of a global economy and the increasingly integrated capital markets at its heart. In nations as diverse as France, Canada, Russia, and Mexico, the lives of citizens are disrupted when national policy falls out of line with the expectations of international financiers. Such dilemmas, ever more conspicuous around the world, arise from the disjuncture between a rapidly changing international economic system and a political order still constituted by sovereign states. The evolution of global capital markets inspires an understandable fear among people that the governing authorities accountable to them are losing the power to make substantive decisions affecting their own material prospects and those of their children. Pauly points out that today's capital markets resulted from decisions taken over many years by sovereign states, and particularly by the leading industrial democracies, who simultaneously crafted the instrument of multilateral economic surveillance. The effort to build adequate political foundations for global capital markets spans the twentieth century and links the histories of such institutions as the League of Nations, the International Monetary Fund, the European Union, and the Group of Seven. |
| Additional Information |
| BISAC Categories: - Political Science | Public Policy - Economic Policy - Business & Economics | International - Economics - Political Science | International Relations - General |
| Dewey: 332.15 |
| LCCN: 96045087 |
| Lexile Measure: 1560 |
| Series: Cornell Studies in Political Economy (Hardcover) |
| Physical Information: 0.7" H x 6.15" W x 9.17" (0.90 lbs) 200 pages |
| Descriptions, Reviews, Etc. |
| Publisher Description: A former banker and staff member of the International Monetary Fund, Louis W. Pauly explains why people are deeply concerned about the emergence of a global economy and the increasingly integrated capital markets at its heart. In nations as diverse as France, Canada, Russia, and Mexico, the lives of citizens are disrupted when national policy falls out of line with the expectations of international financiers. Such dilemmas, ever more conspicuous around the world, arise from the disjuncture between a rapidly changing international economic system and a political order still constituted by sovereign states. The evolution of global capital markets inspires an understandable fear among people that the governing authorities accountable to them are losing the power to make substantive decisions affecting their own material prospects and those of their children. Pauly points out that today's capital markets resulted from decisions taken over many years by sovereign states, and particularly by the leading industrial democracies, who simultaneously crafted the instrument of multilateral economic surveillance. The effort to build adequate political foundations for global capital markets spans the twentieth century and links the histories of such institutions as the League of Nations, the International Monetary Fund, the European Union, and the Group of Seven. |
Contributor Bio(s): Pauly, Louis W.: - Louis W. Pauly is Professor of Political Science and Director of the Centre for International Studies at the University of Toronto. He is the author of Who Elected the Bankers?: Surveillance and Control in the World Economy and Opening Financial Markets: Banking Politics on the Pacific Rim both from Cornell, and coauthor or coeditor of several other books, including Complex Sovereignty. |