Book Description
When Washington Shut Down Wall Street unfolds like a mystery story. It traces Treasury Secretary William Gibbs McAdoo's triumph over a monetary crisis at the outbreak of World War I that threatened the United States with financial disaster. The biggest gold outflow in a generation imperiled America's ability to repay its debts abroad. Fear that the United States would abandon the gold standard sent the dollar plummeting on world markets. Without a central bank in the summer of 1914, the United States resembled a headless financial giant.
William McAdoo stepped in with courageous action, we read in Silber's gripping account. He shut the New York Stock Exchange for more than four months to prevent Europeans from selling their American securities and demanding gold in return. He smothered the country with emergency currency to prevent a replay of the bank runs that swept America in 1907. And he launched the United States as a world monetary power by honoring America's commitment to the gold standard. His actions provide a blueprint for crisis control that merits attention today. McAdoo's recipe emphasizes an exit strategy that allows policymakers to throttle a crisis while minimizing collateral damage.
When Washington Shut Down Wall Street recreates the drama of America's battle for financial credibility. McAdoo's accomplishments place him alongside Paul Volcker and Alan Greenspan as great American financial leaders. McAdoo, in fact, nursed the Federal Reserve into existence as the 1914 crisis waned and served as the first chairman of the Federal Reserve Board.
Customer Reviews:
Great read.......2007-08-30
This book is a great read. The topic is fascinating (to me, at least). Some of the material is a bit intricate, but the author does a great job of explaining it. He liberally uses footnotes to explain details which to an economist might be pedestrian but to a lay person such as myself are not obvious. (One ongoing topic is the exchange rate between pounds sterling and dollars, and how that relates to the price of gold and the cost of shipping gold between the UK and the US. He does a great job of walking the reader through the process and the arithmetic.) I highly recommend this book, and particularly recommend it to anyone who wonders what the Federal Reserve Board really does.
Fascinating history of how the U.S. became the world's financial leader.......2007-03-30
In Kazuo Ishiguro's novel The Remains of the Day, a blue-blood guest unmercifully grills James Stevens, the head butler at an English estate. The pompous guest is trying to demonstrate that uneducated people should not have the vote. "My good man," he asks, "do you suppose the debt situation regarding America is a significant factor in the present low levels of trade? Or...is the abandonment of the gold standard...at the root of the matter?" Stevens, aware that the question is meant only to baffle him, replies that he has no idea. Poor Stevens! Anyone without a degree in international finance would have an equally difficult time answering such an abstruse question. That's why this intriguing business history book by William L. Silber is so worthwhile: He brings global finance to life by spotlighting America's 1914 money crisis and by explaining how then-U.S. Treasury Secretary William McAdoo used this portentous episode to establish the nation's financial supremacy. We suggest you read this illuminating work of economic history to understand the seminal events that established U.S. monetary policy.
Book Description
Currencies and Crises brings together Paul Krugman's work on international monetary economics from the late 1970s to the present, in an effort to make sense of a turbulent period that, in Krugman's words, "involved one surprise after another, most of them unpleasant." The eleven essays cover such key areas as the role of exchange rates in balance-of-payments adjustment policy, the role of speculation in the functioning of exchange-rate regimes, third world debt, and the construction of an international monetary system.
Customer Reviews:
Currency Management- Very important for corporations.......2000-06-28
Paul is one of the famous personalities in the world of finance. Any person who has not heard of him has got no right to be in the field of finance. For most of the Fortune 500 corporation in US, about 70-80% of revenues is coming from abroad(read foreign currency). By reading this book one gets a real perspective on the latest things happening in the field of foreign currency.
Average customer rating:
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Currency Crises (National Bureau of Economic Research Conference Report)
Manufacturer: University Of Chicago Press
ProductGroup: Book
Binding: Hardcover
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ASIN: 0226454622 |
Book Description
There is no universally accepted definition of a currency crisis, but most would agree that they all involve one key element: investors fleeing a currency en masse out of fear that it might be devalued, in turn fueling the very devaluation they anticipated. Although such crises—the Latin American debt crisis of the 1980s, the speculations on European currencies in the early 1990s, and the ensuing Mexican, South American, and Asian crises—have played a central role in world affairs and continue to occur at an alarming rate, many questions about their causes and effects remain to be answered. In this wide-ranging volume, some of the best minds in economics focus on the historical and theoretical aspects of currency crises to investigate three fundamental issues: What drives currency crises? How should government behavior be modeled? And what are the actual consequences to the real economy?
Reflecting the latest thinking on the subject, this offering from the NBER will serve as a useful basis for further debate on the theory and practice of speculative attacks, as well as a valuable resource as new crises loom.
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Managing Currency Crises in Emerging Markets (National Bureau of Economic Research Conference Report)
Manufacturer: University Of Chicago Press
ProductGroup: Book
Binding: Hardcover
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ASIN: 0226155404 |
Book Description
The management of financial crises in emerging markets is a vital and high-stakes challenge in an increasingly global economy. For this reason, it's also a highly contentious issue in today's public policy circles. In this book, leading economists-many of whom have also participated in policy debates on these issues-consider how best to reduce the frequency and cost of such crises.
The contributions here explore the management process from the beginning of a crisis to the long-term effects of the techniques used to minimize it. The first three chapters focus on the earliest responses and the immediate defense of a currency under attack, exploring whether unnecessary damage to economies can be avoided by adopting the right response within the first few days of a financial crisis. Next, contributors examine the adjustment programs that follow, considering how to design these programs so that they shorten the recovery phase, encourage economic growth, and minimize the probability of future difficulties. Finally, the last four papers analyze the actual effects of adjustment programs, asking whether they accomplish what they are designed to do-and whether, as many critics assert, they impose disproportionate costs on the poorest members of society.
Recent high-profile currency crises have proven not only how harmful they can be to neighboring economies and trading partners, but also how important policy responses can be in determining their duration and severity. Economists and policymakers will welcome the insightful evaluations in this important volume, and those of its companion, Sebastian Edwards and Jeffrey A. Frankel's Preventing Currency Crises in Emerging Markets.
Book Description
Recent years have witnessed an increase in the frequency of currency and balance of payments crises in developing countries. More important, the crises have become more virulent, have caused widespread disruption to other developing countries, and have even had repercussions on advanced economies. To predict crises, their causes must be clearly understood. Two competing strands of theories are reviewed in this paper. The first focuses on the consequences of such policies as excessive credit growth in provoking depletion of foreign exchange reserves and making a devaluation inevitable. The second emphasizes the trade-offs between internal and external balance that the policymaker faces in defending a peg.
Average customer rating:
- Excellent work -- informative and scholarly
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The Asian Currency Crisis
Gerald Tan
Manufacturer: Times Academic Press,Singapore
ProductGroup: Book
Binding: Paperback
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ASIN: 9812101578 |
Customer Reviews:
Excellent work -- informative and scholarly.......2001-09-18
As someone who is not an economist, I am in no position to rate Tan's arguments vis-a-vis the positions of other economists. However, as an introduction to the complexities of the 1998 meltdown in Asian economies, this book is first-rate. It is very well organized.
Dealing with the crisis chronologically, and country-by-country, Tan is able to illustrate patterns that span the whole event, and unique events within each country. He treats the responses of each country, and does not shirk from providing a sober and often scathing assessment of the attitudes and policy responses of individual countries. His political analyses are just as useful, since the implications of the event have so much to do with the political makeup of individual countries, and their political and financial institutions.
Market data is used extensively to support his claim. There is a tremendous and often overwhelming plethora of data. However, if one is just looking for an identification of major patterns and analyses, Tan illustrates this very clearly within his chapters.
This book is a great resource for someone who wants access to source data that is relevant to the Asian Meltdown, as well as just a broad introduction to the phenomena that helps a reader trying to understand such a significant event (or series of events).
Average customer rating:
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Capital Flows, Capital Controls, and Currency Crises: Latin America in the 1990s (Development and Inequality in the Market Economy)
Manufacturer: University of Michigan Press
ProductGroup: Book
Binding: Hardcover
Development & Growth
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International
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ASIN: 0472110985 |
Book Description
After a decade of financial isolation from world private capital markets following the external debt crisis of the early 1980s, Latin America became an effective magnet for private capital in the 1990s. Two major events, however, altered an otherwise positive picture for this region: the Mexican crisis of 1994-95 and the Asian crisis of 1997. This volume analyzes the return of private capital to Latin America and studies the main policy options available to economic authorities under these new circumstances.
Part 1 is dedicated to the study of capital account restrictions and the role of economic fundamentals. A theoretical chapter develops a model to determine whether a liberalization of capital outflows effectively promotes outflows or is more likely to attract inflows. Others empirically analyze the effectiveness of capital controls in Chile, and the role of economic fundamentals in the determination of capital inflows to Chile, Latin America, and developing countries overall.
Part 2 contains country studies of Argentina, Brazil, Colombia, Chile, and Mexico. Written by national economists of each country who have lived through the inflow and outflow episodes and carried out their own research on the subject, these studies provide the inside story for each country. They analyze the timing, size, and composition of capital inflows, their determinants, their impact on the domestic economies, and, in particular, the ways in which local economic authorities have reacted to the inflows and crises, and the effectiveness of these policies in changing the size and/or composition of capital inflows.
This volume will be of interest to scholars, policy-makers, students, and Latin American specialists investigating capital flows and capital controls in a fast-changing international environment.
Felipe Larraín B. is Robert F. Kennedy Visiting Professor of Latin American Studies, Harvard Kennedy School of Government and Professor of Economics, Universidad Católica de Chile.
Average customer rating:
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Capital Mobility, Exchange Rates and Economic Crises
George Fane
Manufacturer: Edward Elgar Publishing
ProductGroup: Book
Binding: Hardcover
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ASIN: 1858987849 |
Book Description
Recent crises in emerging markets have raised doubts about the desirability of relaxing controls on capital mobility. George Fane, however, uses evidence from the crises in Asia and Latin America to reassert the traditional case that such controls are an excessively blunt instrument for achieving financial stability.
This book argues that recent official proposals for reforming the 'international financial architecture' are also unlikely to reduce the frequency of currency and financial crises to an acceptable level. The author proposes an alternative plan to achieve greater financial stability:
€ banks should have to double the currently accepted percentage of capital to risk-weighted assets from 8 to 16 percent and the risk-weights for loans to emerging markets should also be raised substantially € the financial sectors in emerging markets should be fully opened to foreign competition € bankruptcy procedures in emerging markets should be greatly strengthened € central banks should adopt flexible exchange rates, backed by credible targets for inflation or monetary growth. If flexible exchange rates are not adopted, central banks should at least avoid the widespread practice of trying to sterilize the monetary effects of capital flows
The author argues that the implementation of this plan will be a far more effective way of enhancing financial stability than controlling international capital flows, or trying to force private lenders to make new loans to countries that suffer crises.
This book will be required reading for scholars and policymakers in the areas of international financial economics, financial regulation, development economics and Asian Studies.
Average customer rating:
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Money: A Medium of Power
Roger C. Elletson
Manufacturer: Grand Teton University Press
ProductGroup: Book
Binding: Paperback
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ASIN: 1880262053 |
Book Description
In Money: A Medium of Power Roger Elletson demystifies money and defrocks the Money Power. He heralds the new intellectual paradigms of power and organic law that supplant traditional economics. He uses the science of power to refute the myth of money as a medium of exchange and reveal it as a medium of power.
"In this work, Roger Elletson establishes himself as a leading scholar as well as an economic pragmatist. His research is impeccable, his critique is measured and comprehensive. Elletson provides a compelling comprehension of the global reach of the money power."--James L. Green, Professor Emiritus of Economics University of Georgia
This definitive work reveals the subjects of money and the Money Power as the most important issues facing mankind at the beginning of the third millennium. No academic disciplines are more cloaked in mystery and misinformation than the study of money and the pseudology of economics that protects it. No constituency more urgently needs to be brought into the mainstream of academic awareness and public debate than the Money Power - the private monopolists of money and the controllers of international trade.
"The clearest and most incisive statement of Roger Elletson's views on money. He may be freely disputed on points of detail, but the thrust of his thought is a change of outlook as from Ptolemy to Copernicus. His work is highly important reading for anyone who seeks to transform money from the master to the servant of mankind."--John Remington Graham, Constitutional Scholar, Author and Lawyer
Book Description
* Shows readers how to make informed decisions about purchasing third party ebXML solutions or implementing their own software.
* Provides an in-depth understanding of the value and use of ebXML.
* Includes valuable information on how ebXML fits in with the overall B2B domain and related initiatives.
* Offers pointers and insight into the technologies and toolkits required to implement ebXML systems.
* Presents implementation examples based on real-world implementations of ebXML systems for Fortune 500 companies.
Customer Reviews:
Excellent book for any eCommerce professional.......2004-04-13
The book is full of real-world examples and the content would make it an excellent text book for a class on eCommerce or ebXML in any University. However, it was written with a personal flair that makes it very readable and easy to follow and understand. It will continue to be a valued reference book in my eCommerce library for years to come as it hits on subjects that are relevant for today and tomorrow, as well as giving a good historical perspective of EDI and other standards for business messaging.
The best book on ebXML.......2004-01-20
The real difference of this book is that its focus is on how to use ebXML to solve real-world problems with examples, rather than providing an overview of the ebXML specification itself.
Book Description
Learn the secrets of how to work and love together successfully.
Customer Reviews:
Good Advice.......2000-10-04
My wife and I recently opened a home-based business, and were given this book as a gift. As anyone trying to start a business knows, you don't have a lot of free time to sit around reading but with Marshack's book we made the time. Her advice on how to support one another both as business partners and as husband and wife was very helpful. We both reccommend it with enthusiasm!
Amazon.com
This is Ron Hoff's third book on the trials and tricks of public speaking, and if you've ever faced the prospect of speaking in public with trepidation, this amusing book, filled with anecdotes and pointers, will help you get through it with flying colors! After reading this book and recalling a recent benefit dinner I was obliged to attend, I wished a lot more public speakers had already read it ...
Customer Reviews:
Shed Your Inhibitions...and STILL Be Decent.......2001-03-10
Ron Hoff's "Do Not Go Naked Into Your Next Presentation" is pocket-sized inspiration and common sense when it comes to facing an audience and presenting a speech. It's an easy read--not intimidating in the least--and will set the tone. many times through humor to help make a good speech even better. I use it in my public speaking courses at a local university, and the students get alot out of this little book.Hoff's accounts are a "must have" if you want to improve public speaking skills. In just a few words, he is able to empower you with a "can do" attitude--and reap the rewards of being an effective communicator.
Shed Your Inhibitions...and STILL Be Decent.......2001-03-10
Ron Hoff's "Do Not Go Naked Into Your Next Presentation" is pocket-sized inspiration and common sense when it comes to facing an audience and presenting a speech. It's an easy read--not intimidating in the least--and will set the tone. many times through humor to help make a good speech even better. I use it in my public speaking courses at a local university, and the students get alot out of this little book. Hoff's accounts are a "must have" if you want to improve public speaking skills. In just a few words, you are empowered with a "can do" attitude--and will reap the rewards of being a more effective communicator.
Average customer rating:
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World's Easiest Pocket Guide To Finding Your First Full-Time Job
Larry Burkett , and
Ed Strauss
Manufacturer: Moody Publishers
ProductGroup: Book
Binding: Paperback
Guides
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ASIN: 0802409954 |
Book Description
'The World's Easiest Pocket Guide' brand is filling a vacuum in the bookselling marketplace with an introductory level series on subjects affecting important lifestyle issues. Each product features a highly recognizable author writing on topics of his or her expertise.Shortly after leaving home or college, most young adults are unprepared for making practical life decisions and planning for their futures. Leading financial expert Larry Burkett has created this practical pocket guide to help young adults make sound financial decisions from the start. Filled with bite-sized chunks of trustworthy advice, readers will be better equipped to choose the right first job or career.
Customer Reviews:
Excellent Self-Help Book.......2001-02-01
I came across Road To Debt Freedom at one of my friends home. After glancing through it for a while I decided to purchase the book a few days later. Being embarrassed about my credit card bills and overall financial picture I decided to take matters into my own hands. This book provided me with many chapters of useful information while being easy to read and understand. It's very rare for people these days take the time to say good job for something well done. Good Job!
A step-by-step guide to financial security and debt freedom!.......2001-01-13
Being in the debt management and credit counseling industry, we read a tremendous number of related books and articles. Every once in a while we come across an outstanding work of art that merits special attention. Road To Debt Freedom ranks at the upper echelon in this category!
The 144 page paperback covers virtually every aspect of managing, understanding and eliminating debt. Reading the book cover to cover, I was personally captivated with the style of writing and the handling of each subject matter. Also impressive was the authors' use of analogies which distinctively paints a vivid picture, especially in areas of finance which consumers often find confusing.
While this book is a MUST read for anyone burdened with debt, if so empowered, I would make it mandatory reading before anyone was granted credit. - Daniel Gelinas, The Center For Debt Management™
Average customer rating:
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The Ford Tractor Story: Basildon to New Holland, 1964 to 1999
Stuart Gibbard
Manufacturer: Motorbooks International
ProductGroup: Book
Binding: Hardcover
Company Profiles
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ASIN: 0953373711 |
Book Description
In 1964, Ford merged its separate British and American tractor lines, marking the beginning of a dynamic period of new models and sophisticated features. In 1994, Fiat took over Ford's agricultural interests and reintroduced the tractors under the New Holland name. This authoritative text and collection of 300 photographs document prototype and production tractors built in both the U.S. and Basildon, Belgium, over the last 36 years. One of the most extensive books ever written on any segment of the modern farm tractor industry also provides a full account of all the period's major Ford and New Holland models. All company reshuffling is accounted for, as are the personalities behind the designs and business decisions.
Books:
- Where women are leaders: The Sewa movement in India
- Who Needs Credit?: Poverty and Finance in Bangladesh
- Worlds Apart: Globalization And The Environment
- A Framework for Complex System Development
- Adam Smith's Moral Philosophy: A Historical and Contemporary Perspective on Markets, Law, Ethics, and Culture (Historical Perspectives on Modern Economics)
- An Agenda for a Growing Europe: The Sapir Report
- Asia in Japan's Embrace: Building a Regional Production Alliance (Cambridge Asia-Pacific Studies)
- Australia: Nation, Belonging, and Globalization (Globalizing Regions)
- Beyond Dichotomies: Histories, Identities, Cultures, and the Challenge of Globalization (Explorations in Postcolonial Studies)
- Beyond the Miracle of the Market: The Political Economy of Agrarian Development in Kenya (Political Economy of Institutions and Decisions)
Books Index
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A Demon of Our Own Design: Markets, Hedge Funds, and the Perils of Financial Innovation
Global Financial Warriors: The Untold Story of International Finance in the Post-9/11 World
Subprime Mortgages: America's Latest Boom and Bust
The Panic of 1907: Lessons Learned from the Market's Perfect Storm
The Black Swan: The Impact of the Highly Improbable
