Saving the City

Saving the City
Author: Richard Roberts
Publisher: Oxford University Press, USA
Total Pages: 320
Release: 2013-11
Genre: Business & Economics
ISBN: 0199646546

A week before the outbreak of the First World War, an acute financial crisis surged over London: the Stock Exchange closed; money markets worldwide were paralysed. Drawing on diaries, letters, memoirs, press reports, and official archives, this book tells the extraordinary, and largely unknown, story of the first true global financial crisis.

When Washington Shut Down Wall Street

When Washington Shut Down Wall Street
Author: William L. Silber
Publisher: Princeton University Press
Total Pages: 232
Release: 2008-07-21
Genre: Business & Economics
ISBN: 0691138761

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.

The Economics of World War I

The Economics of World War I
Author: Stephen Broadberry
Publisher: Cambridge University Press
Total Pages: 363
Release: 2005-09-29
Genre: History
ISBN: 1139448358

This unique volume offers a definitive new history of European economies at war from 1914 to 1918. It studies how European economies mobilised for war, how existing economic institutions stood up under the strain, how economic development influenced outcomes and how wartime experience influenced post-war economic growth. Leading international experts provide the first systematic comparison of economies at war between 1914 and 1918 based on the best available data for Britain, Germany, France, Russia, the USA, Italy, Turkey, Austria-Hungary and the Netherlands. The editors' overview draws some stark lessons about the role of economic development, the importance of markets and the damage done by nationalism and protectionism. A companion volume to the acclaimed The Economics of World War II, this is a major contribution to our understanding of total war.

British Financial Crises Since 1825

British Financial Crises Since 1825
Author: Nicholas H. Dimsdale
Publisher: Oxford University Press, USA
Total Pages: 225
Release: 2014
Genre: Business & Economics
ISBN: 0199688664

A history of British financial crises since the Napoleonic wars, providing an account of the main crises from 1825 until the credit crunch of 2007-8.

The Media and Financial Crises

The Media and Financial Crises
Author: Steve Schifferes
Publisher: Routledge
Total Pages: 339
Release: 2014-08-27
Genre: Social Science
ISBN: 1317624521

The Media and Financial Crises provides unique insights into the debate on the role of the media in the global financial crisis. Coverage is inter-disciplinary, with contributions from media studies, political economy and journalists themselves. It features a wide range of countries, including the USA, UK, Ireland, Greece, Spain and Australia, and a completely new history of financial crises in the British press over 150 years. Editors Steve Schifferes and Richard Roberts have assembled an expert set of contributors, including Joseph E Stiglitz and Lionel Barber, editor of the Financial Times. The role of the media has been central in shaping our response to the financial crisis. Examining its performance in comparative and historical perspectives is crucial to ensuring that the media does a better job next time. The book has five distinct parts: The Banking Crisis and the Media The Euro-Crisis and the Media Challenges for the Media The Lessons of History Media Messengers Under Interrogation The Media and Financial Crises offers broad and coherent coverage, making it ideal for both students and scholars of financial journalism, journalism studies, media studies, and media and economic history.

Planning Armageddon

Planning Armageddon
Author: Nicholas A. Lambert
Publisher: Harvard University Press
Total Pages: 662
Release: 2012-01-01
Genre: History
ISBN: 0674063066

Before the First World War, the British Admiralty conceived a plan to win rapid victory in the event of war with Germany-economic warfare on an unprecedented scale.This secret strategy called for the state to exploit Britain's effective monopolies in banking, communications, and shipping-the essential infrastructure underpinning global trade-to create a controlled implosion of the world economic system. In this revisionist account, Nicholas Lambert shows in lively detail how naval planners persuaded the British political leadership that systematic disruption of the global economy could bring about German military paralysis. After the outbreak of hostilities, the government shied away from full implementation upon realizing the extent of likely collateral damage-political, social, economic, and diplomatic-to both Britain and neutral countries. Woodrow Wilson in particular bristled at British restrictions on trade. A new, less disruptive approach to economic coercion was hastily improvised. The result was the blockade, ostensibly intended to starve Germany. It proved largely ineffective because of the massive political influence of economic interests on national ambitions and the continued interdependencies of all countries upon the smooth functioning of the global trading system. Lambert's interpretation entirely overturns the conventional understanding of British strategy in the early part of the First World War and underscores the importance in any analysis of strategic policy of understanding Clausewitz's "political conditions of war."

Swiss Monetary History since the Early 19th Century

Swiss Monetary History since the Early 19th Century
Author: Ernst Baltensperger
Publisher: Cambridge University Press
Total Pages: 267
Release: 2017-08-03
Genre: Business & Economics
ISBN: 1108191444

This book describes the remarkable path which led to the Swiss Franc becoming the strong international currency that it is today. Ernst Baltensperger and Peter Kugler use Swiss monetary history to provide valuable insights into a number of issues concerning the organization and development of monetary institutions and currency that shaped the structure of financial markets and affected the economic course of a country in important ways. They investigate a number of topics, including the functioning of a world without a central bank, the role of competition and monopoly in money and banking, the functioning of monetary unions, monetary policy of small open economies under fixed and flexible exchange rates, the stability of money demand and supply under different monetary regimes, and the monetary and macroeconomic effects of Swiss Banking and Finance. Swiss Monetary History since the Early 19th Century illustrates the value of monetary history for understanding financial markets and macroeconomics today.

Crashed

Crashed
Author: Adam Tooze
Publisher: Penguin
Total Pages: 460
Release: 2018-08-07
Genre: Business & Economics
ISBN: 0525558802

WINNER OF THE LIONEL GELBER PRIZE A NEW YORK TIMES NOTABLE BOOK OF 2018 ONE OF THE ECONOMIST'S BOOKS OF THE YEAR A NEW YORK TIMES CRITICS' TOP BOOK "An intelligent explanation of the mechanisms that produced the crisis and the response to it...One of the great strengths of Tooze's book is to demonstrate the deeply intertwined nature of the European and American financial systems."--The New York Times Book Review From the prizewinning economic historian and author of Shutdown and The Deluge, an eye-opening reinterpretation of the 2008 economic crisis (and its ten-year aftermath) as a global event that directly led to the shockwaves being felt around the world today. We live in a world where dramatic shifts in the domestic and global economy command the headlines, from rollbacks in US banking regulations to tariffs that may ignite international trade wars. But current events have deep roots, and the key to navigating today’s roiling policies lies in the events that started it all—the 2008 economic crisis and its aftermath. Despite initial attempts to downplay the crisis as a local incident, what happened on Wall Street beginning in 2008 was, in fact, a dramatic caesura of global significance that spiraled around the world, from the financial markets of the UK and Europe to the factories and dockyards of Asia, the Middle East, and Latin America, forcing a rearrangement of global governance. With a historian’s eye for detail, connection, and consequence, Adam Tooze brings the story right up to today’s negotiations, actions, and threats—a much-needed perspective on a global catastrophe and its long-term consequences.

Britain, America and the Sinews of War 1914-1918 (RLE The First World War)

Britain, America and the Sinews of War 1914-1918 (RLE The First World War)
Author: Kathleen Burk
Publisher: Routledge
Total Pages: 299
Release: 2014-04-24
Genre: History
ISBN: 1317700511

Anglo-American relations were transformed during the First World War. Britain was already in long-term economic decline relative to the United States, but this decline was accelerated by the war, which was militarily a victory for Britain, but economically a catastrophe. This book sets out the economic, and in particular, the financial relations between the two powers during the war, setting it in the context of the more familiar political and diplomatic relationship. Particular attention is paid to the British war missions sent out to the USA, which were the agents for much of the financial and economic negotiation, and which are rescued here from underserved historical obscurity.

July 1914

July 1914
Author: Sean McMeekin
Publisher: Basic Books
Total Pages: 482
Release: 2014-04-29
Genre: History
ISBN: 0465038867

When a Serbian-backed assassin gunned down Archduke Franz Ferdinand in late June 1914, the world seemed unmoved. Even Ferdinand's own uncle, Franz Josef I, was notably ambivalent about the death of the Hapsburg heir, saying simply, "It is God's will." Certainly, there was nothing to suggest that the episode would lead to conflict -- much less a world war of such massive and horrific proportions that it would fundamentally reshape the course of human events. As acclaimed historian Sean McMeekin reveals in July 1914, World War I might have been avoided entirely had it not been for a small group of statesmen who, in the month after the assassination, plotted to use Ferdinand's murder as the trigger for a long-awaited showdown in Europe. The primary culprits, moreover, have long escaped blame. While most accounts of the war's outbreak place the bulk of responsibility on German and Austro-Hungarian militarism, McMeekin draws on surprising new evidence from archives across Europe to show that the worst offenders were actually to be found in Russia and France, whose belligerence and duplicity ensured that war was inevitable. Whether they plotted for war or rode the whirlwind nearly blind, each of the men involved -- from Austrian Foreign Minister Leopold von Berchtold and German Chancellor Bethmann Hollweg to Russian Foreign Minister Sergei Sazonov and French president Raymond Poincaré- sought to capitalize on the fallout from Ferdinand's murder, unwittingly leading Europe toward the greatest cataclysm it had ever seen. A revolutionary account of the genesis of World War I, July 1914 tells the gripping story of Europe's countdown to war from the bloody opening act on June 28th to Britain's final plunge on August 4th, showing how a single month -- and a handful of men -- changed the course of the twentieth century.