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10%OFFHerman M. Schwartz - Subprime Nation: American Power, Global Capital, and the Housing Bubble - 9780801475672 - V9780801475672
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Subprime Nation: American Power, Global Capital, and the Housing Bubble

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Description for Subprime Nation: American Power, Global Capital, and the Housing Bubble Paperback. Series: Cornell Studies in Money. Num Pages: 280 pages, 48. BIC Classification: 1KBB; 3JMC; KCP; KCX; KFFR. Category: (P) Professional & Vocational; (UP) Postgraduate, Research & Scholarly. Dimension: 235 x 159 x 17. Weight in Grams: 396.

In his exceedingly timely and innovative look at the ramifications of the collapse of the U.S. housing market, Herman M. Schwartz makes the case that worldwide, U.S. growth and power over the last twenty years has depended in large part on domestic housing markets. Mortgage-based securities attracted a cascade of overseas capital into the U.S. economy. High levels of private home ownership, particularly in the United States and the United Kingdom, have helped pull in a disproportionately large share of world capital flows.

As events since mid-2008 have made clear, mortgage lenders became ever more eager to extend housing loans, ... Read more

Schwartz concentrates on the impact of U.S. regulatory failure on the international economy. He argues that the "local" problem of the housing crisis carries substantial and ongoing risks for U.S. economic health, the continuing primacy of the U.S. dollar in international financial circles, and U.S. hegemony in the world system.

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Product Details

Format
Paperback
Publication date
2009
Publisher
Cornell University Press United States
Number of pages
288
Condition
New
Series
Cornell Studies in Money
Number of Pages
280
Place of Publication
Ithaca, United States
ISBN
9780801475672
SKU
V9780801475672
Shipping Time
Usually ships in 7 to 11 working days
Ref
99-1

About Herman M. Schwartz
Herman M. Schwartz is Professor of Politics at the University of Virginia. He is author of States vs. Markets: The Emergence of a Global Economy and In the Dominions of Debt: Historical Perspectives on Dependent Development and coeditor of several books, including most recently The Politics of Housing Booms and Busts.

Reviews for Subprime Nation: American Power, Global Capital, and the Housing Bubble
Herman Schwartz has written an ambitious and important book that offers a 'unified field theory' of political economy to explain the U.S. housing boom, the mortgage crisis, the U.S. dependence on high levels of foreign capital, and the changing global balance of power among nations. His argument is surprising and controversial, but it is supported by data and by a ... Read more

Goodreads reviews for Subprime Nation: American Power, Global Capital, and the Housing Bubble


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