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.

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.

The Federal Reserve and the Financial Crisis

The Federal Reserve and the Financial Crisis
Author: Ben Bernanke
Publisher: Princeton University Press
Total Pages: 144
Release: 2013-02-24
Genre: Business & Economics
ISBN: 0691158738

Collects the transcripts of a series of lectures given by Federal Reserve Chairman Ben Bernanke about the 2008 financial crisis as part of a course at George Washington University on the role of the Federal Reserve in the economy.

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.

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.

The Panic of 1819

The Panic of 1819
Author: Andrew H. Browning
Publisher: University of Missouri Press
Total Pages: 451
Release: 2019-04-01
Genre: History
ISBN: 0826274250

The Panic of 1819 tells the story of the first nationwide economic collapse to strike the United States. Much more than a banking crisis or real estate bubble, the Panic was the culmination of an economic wave that rolled through the United States, forming before the War of 1812, cresting with the land and cotton boom of 1818, and crashing just as the nation confronted the crisis over slavery in Missouri. The Panic introduced Americans to the new phenomenon of boom and bust, changed the country's attitudes towards wealth and poverty, spurred the political movement that became Jacksonian Democracy, and helped create the sectional divide that would lead to the Civil War. Although it stands as one of the turning points of American history, few Americans today have heard of the Panic of 1819, with the result that we continue to ignore its lessons—and repeat its mistakes.

This Time Is Different

This Time Is Different
Author: Carmen M. Reinhart
Publisher: Princeton University Press
Total Pages: 513
Release: 2011-08-07
Genre: Business & Economics
ISBN: 0691152640

An empirical investigation of financial crises during the last 800 years.