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Mad money: when markets outgrow governments

Author: Strange, Susan Publisher: University of Michigan Press, 1998.Language: EnglishDescription: 212 p. ; 23 cm.ISBN: 0472066935Type of document: BookNote: Doriot: for 2014-2015 coursesBibliography/Index: Includes bibliographical references and index
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Item type Current location Collection Call number Status Date due Barcode Item holds
Book Asia Campus
Main Collection
Print HB3722 .S87 1998
(Browse shelf)
900191371
Available 900191371
Book Europe Campus
Main Collection
Print HB3722 .S87 1998
(Browse shelf)
001331546
Available 001331546
Total holds: 0

Doriot: for 2014-2015 courses

Includes bibliographical references and index

Digitized

Contents Mad Money Mad Money Acknowledgements List of abbreviations The casino image mad Why mad? The casino image. What's new and what's just more of the same since Casino Capitalism (1986). The context of globalisation and a post-Cold War world of 'threats without enemies'. Innovations Technological change has been just as fast in financial business as in computers or telecoms. innovations like derivatives, securitisation and hedge funds, added to the speed of electronic communication, have created a bigger, faster casino. Political underpinnings: the UsJapan axis The US-Japan axis is crucial to the good management of financial crises. But new weaknesses in the relationship have emerged since the 1980s. Political underpinnings: disunited Europe The other political weak link in the global financial system is that between France and Germany. What chances for EMU, and will the euro be strong or weak against the dollar? Wall Street and other casinos Are Wall Street and other stock exchanges a danger to the world economy? What lessons from the 1930s and the 1980s.' Is the contagion factor, as in Asia in 1997, a new flaw in the financial system? vii Vlll ... 1 22 43 60 78 The debtors Although the creditors and debtors are not the same as in the past, the problem of transnational debt is no nearer a solution. Why do the IMF and the World Bank fail to help the poorest indebted countries? Finance and crime Financial crime has become commoner and the link between mafias and money laundering has become closer. How states have reacted. Is this the worst kind of crime committed in the system? What about public embezzlement through the tax havens? Managing mad money - national systems Each national system of controlling and regulating financial business is different from the others. But all are being eroded b y the mobility of capital and the power of international markets. Our international guardians The BIS has given alp on the idea of enforcing standard rules for all. Banks are to be self-regulating. The IMF has been given more power but is not competent nor qualified to deal with tricky politicians and secretive bankers. So what? What are we to make of it all? Who is to blame and what is to be done? Bibliography Index

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