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The Creation and Destruction of Value: The Globalization Cycle
Dr. Harold James
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Description for The Creation and Destruction of Value: The Globalization Cycle
Paperback. Examines the vulnerability and fragility of processes of globalization. This title applies lessons from past breakdowns of globalization - above all in the Great Depression - to show how financial crises provoke backlashes against global integration: against the mobility of capital or goods, but also against flows of migration. Num Pages: 336 pages, 7 figures. BIC Classification: KCB; KCL; KCZ. Category: (G) General (US: Trade). Dimension: 181 x 113 x 25. Weight in Grams: 290.
Harold James examines the vulnerability and fragility of processes of globalization, both historically and in the present. This book applies lessons from past breakdowns of globalization-above all in the Great Depression-to show how financial crises provoke backlashes against global integration: against the mobility of capital or goods, but also against flows of migration. By a parallel examination of the financial panics of 1929 and 1931 as well as that of 2008, he shows how banking and monetary collapses suddenly and radically alter the rules of engagement for every other type of economic activity. Increased calls for state action in countercyclical fiscal policy bring demands for trade protection. In the open economy of the twenty-first century, such calls are only viable in very large states-probably only in the United States and China. By contrast, in smaller countries demand trickles out of the national container, creating jobs in other countries. The international community is thus paralyzed, and international institutions are challenged by conflicts of interest. The book shows the looming psychological and material consequences of an interconnected world for people and the institutions they create.
Product Details
Publisher
Harvard University Press
Number of pages
336
Format
Paperback
Publication date
2012
Condition
New
Weight
290g
Number of Pages
336
Place of Publication
Cambridge, Mass, United States
ISBN
9780674066182
SKU
V9780674066182
Shipping Time
Usually ships in 7 to 11 working days
Ref
99-1
About Dr. Harold James
Harold James is the Claude and Lore Kelly Professor in European Studies and Professor of History and International Affairs at Princeton University.
Reviews for The Creation and Destruction of Value: The Globalization Cycle
The reflections of Harold James, an economic historian at Princeton University and a long-time student of what makes globalization happen, would be of interest even in times more tranquil than these. But at a moment when the march of global integration has been stalled by a financial crisis unparalleled since the 1930s, Mr. James is a particularly fitting guide...At a time when economists are accused of having forgotten history, yet few historians can explain the world of bank bail-outs and the turmoil they cause, Mr. James has a rare gift for being able to marshal an impressive knowledge of economic and financial history in order to highlight previously unrecognized connections with the past. The Economist 20090905 Unsurprisingly there have been a host of books about the banking crisis and its consequences. But they have mostly had a whodunnit? tone to them, seeking to explain what happened and apportion the blame, rather than giving us some feeling for how the world economy might dig itself out of the crisis and how effectively it might develop in the years to come. So Harold James' new book deserves a special welcome for giving us a framework to try to do this, for he is an historian rather than an economist...Anyone expecting his new book to explain why this current crisis will end the burst of globalization will be disappointed. His argument is more subtle and more interesting...Where he adds most value is in his effort to put the crisis into its international political context, asking some tough questions on the way.
Hamish McRae The Independent 20091106 From the current vantage point
rising stock prices amid a weak economic recovery and double-digit unemployment
it is too soon to know whether the current crisis will be remembered as a financial shock that failed to throw off the trajectory of globalization, or if it marks the start of a more fundamental re-ordering. James modestly and appropriately avoids trying to answer that question. But he asks all the right ones, offering a brilliant tour through the Great Depression and the current crisis.
Edward Alden Forbes.com 20091202 The recent U.S. financial meltdown that spread throughout the world stimulated a plethora of analyses of the causes and consequences of this catastrophe. However, few studies are as insightful as this short but important work.
D. C. Messerschmidt Choice 20100401
Hamish McRae The Independent 20091106 From the current vantage point
rising stock prices amid a weak economic recovery and double-digit unemployment
it is too soon to know whether the current crisis will be remembered as a financial shock that failed to throw off the trajectory of globalization, or if it marks the start of a more fundamental re-ordering. James modestly and appropriately avoids trying to answer that question. But he asks all the right ones, offering a brilliant tour through the Great Depression and the current crisis.
Edward Alden Forbes.com 20091202 The recent U.S. financial meltdown that spread throughout the world stimulated a plethora of analyses of the causes and consequences of this catastrophe. However, few studies are as insightful as this short but important work.
D. C. Messerschmidt Choice 20100401