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Central Banks and Gold: How Tokyo, London, and New York Shaped the Modern World

Simon James Bytheway

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Description for Central Banks and Gold: How Tokyo, London, and New York Shaped the Modern World Hardback. Series: Cornell Studies in Money. Num Pages: 264 pages, 14, 3 black & white halftones, 10 black & white tables, 1 charts. BIC Classification: 3JJ; 3JM; KCZ; KFFK. Category: (G) General (US: Trade). Dimension: 164 x 237 x 29. Weight in Grams: 538.
In recent decades, Tokyo, London, and New York have been the sites of credit bubbles of historically unprecedented magnitude. Central bankers have enjoyed almost unparalleled power and autonomy. They have cooperated to construct and preserve towering structures of debt, reshaping relations of power and ownership around the world. In Central Banks and Gold, Simon James Bytheway and Mark Metzler explore how this financialized form of globalism took shape a century ago, when Tokyo joined London and New York as a major financial center.As revealed here for the first time, close cooperation between central banks began along an unexpected axis, between ... Read more

Product Details

Publisher

Cornell University Press

Format

Hardback

Publication date

2016

Series

Cornell Studies in Money

Condition

New

Weight

538g

Number of Pages

260

Place of Publication

Ithaca, United States

ISBN

9781501704949

SKU

V9781501704949

Shipping Time

Usually ships in 7 to 11 working days

Ref

99-1

About Simon James Bytheway

Simon James Bytheway is Professor of Financial History at Nihon University. He is the author of Investing Japan: Foreign Capital, Monetary Standards, and Economic Development, 1859-2011. Mark Metzler is Professor of History at the University of Texas at Austin. He is the author of Capital as Will and Imagination: Schumpeter's Guide to the Postwar Japanese Miracle and coauthor of Central ... Read more

Reviews for Central Banks and Gold: How Tokyo, London, and New York Shaped the Modern World

This book opens a new door through which we can look at history from a non-Anglocentric perspective...[for] students of global or world economic history of the modern era.
American Historical Review
This is an engrossing history of the origins of modern central bank cooperation by two leading financial historians of Japan. Mining a vast range of ... Read morearchival material, some for the first time, Simon James Bytheway and Mark Metzler trace the history of cooperation among the Bank of England, the Bank of Japan, and the New York Federal Reserve in the early 1900s. The authors deserve to be congratulated in particular for uncovering secretive diplomacy among the three central banks for a coordinated deflation of the world economy in the 1920s, and highlighting the significant Asian dimension missing from other accounts of central bank cooperation in this period when Japan was a crucial 'swing' power. Among this book's strengths are its cultural insights drawn from banking relationships and biographies as Japanese and U.S. banking elites regarded themselves in each other's mirror.
G. Balachandran, Graduate Institute of International and Development Studies, Geneva, author of John Bullion's Empire: Britain's Gold Problem and India between the Wars Simon James Bytheway and Mark Metzler provide a new perspective on the work of central banks and the nature of money in the modern world. They illuminate the history of global credit creation, international policy cooperation, and the political economy of Europe, North America, and Asia by including Japan as an emerging world player alongside the commonly accepted North Atlantic alliance.
Masato Shizume, Waseda University I greatly admire Mark Metzler for continuously shedding new light on modern Japanese economic history. Together with Simon James Bytheway, he has produced another smash hit, deciphering from historical archives the prominent role that Japan played in the pre-World War II global financial order.
Shumpei Takemori, Keio University Central Banks and Gold is a game changer. Simon James Bytheway and Mark Metzler convincingly upset conventional interpretations of many issues concerning international finance in the late nineteenth and early twentieth centuries, with findings that have profound implications for global financial trends in recent decades.
Steven J. Ericson, Dartmouth College, author of The Sound of the Whistle: Railroads and the State in Meiji Japan Their [Bytheway and Meltzer's] eminently readable book demonstrates the continuing value of archival research, including those archives that would seem to have given up all their secrets.
Journal of Japanese Studies
Bytheway and Metzler's volume stimulates its readers to look more closely at the activities of central banks.... The book casts new light on the excep- tional role of Japan. The authors are persuasive in their argument that to understand and to evaluate today's world economy, today's financial globalization, it is imperative to include the important activities of the Japanese central bank and Japanese gold flows not only in contemporary times but in the period from 1896 to the start of the 1930s.
JOURNAL OF ECONOMIC LITERATURE
Engrossing.... This book is well written, clearly organized, and impeccably researched.... A fascinating read.
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Central Banks and Gold: How Tokyo, London, and New York Shaped the Modern World

Simon James Bytheway

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