Maximalist: America in the World from Truman to Obama [EPUB]
06 March 2014, 07:46
2014 | EPUB | 3.8MB
From a writer with long and high-level experience in the U.S. government, a startling and provocative assessment of America’s global dominance. Maximalist: America in the World from Truman to Obama puts the history of our foreign policy in an unexpected new light, while drawing fresh, compelling lessons for the present and future.
When the United States has succeeded in the world, Stephen Sestanovich argues, it has done so not by staying the course but by having to change it—usually amid deep controversy and uncertainty. For decades, the United States has been a power like no other. Yet presidents and policy makers worry that they—and, even more, their predecessors—haven’t gotten things right. Other nations, they say to themselves, contribute little to meeting common challenges. International institutions work badly. An effective foreign policy costs too much. Public support is shaky. Even the greatest successes often didn’t feel that way at the time.
Sestanovich explores the dramatic results of American global primacy built on these anxious foundations, recounting cycles of overcommitment and underperformance, highs of achievement and confidence followed by lows of doubt. We may think there was a time when America’s international role reflected bipartisan unity, policy continuity, and a unique ability to work with others, but Maximalist tells a different story—one of divided administrations and divisive decision making, of clashes with friends and allies, of regular attempts to set a new direction. Doing too much has always been followed by doing too little, and vice versa.
Maximalist unearths the backroom stories and personalities that bring American foreign policy to life. Who knew how hard Lyndon Johnson fought to stay out of the war in Vietnam—or how often Henry Kissinger ridiculed the idea of visiting China? Who remembers that George Bush Sr. found Ronald Reagan’s diplomacy too passive—or that Bush Jr. considered Bill Clinton’s too active? Leaders and scoundrels alike emerge from this retelling in sharper focus than ever before. Sestanovich finds lessons in the past that anticipate and clarify our chaotic present.
Fragile by Design [PDF]
06 March 2014, 06:13
2014 | PDF | 5.62MB
Why are banking systems unstable in so many countries--but not in others? The United States has had twelve systemic banking crises since 1840, while Canada has had none. The banking systems of Mexico and Brazil have not only been crisis prone but have provided miniscule amounts of credit to business enterprises and households. Analyzing the political and banking history of the United Kingdom, the United States, Canada, Mexico, and Brazil through several centuries, Fragile by Design demonstrates that chronic banking crises and scarce credit are not accidents due to unforeseen circumstances. Rather, these fluctuations result from the complex bargains made between politicians, bankers, bank shareholders, depositors, debtors, and taxpayers. The well-being of banking systems depends on the abilities of political institutions to balance and limit how coalitions of these various groups influence government regulations.
Fragile by Design is a revealing exploration of the ways that politics inevitably intrudes into bank regulation. Charles Calomiris and Stephen Haber combine political history and economics to examine how coalitions of politicians, bankers, and other interest groups form, why some endure while others are undermined, and how they generate policies that determine who gets to be a banker, who has access to credit, and who pays for bank bailouts and rescues.
Money: The Unauthorized Biography [EPUB]
06 March 2014, 06:07
2014 | EPUB | 3.87MB
From ancient currency to Adam Smith, from the gold standard to shadow banking and the Great Recession: a sweeping historical epic that traces the development and evolution of one of humankind’s greatest inventions.
What is money, and how does it work? In this tour de force of political, cultural and economic history, Felix Martin challenges nothing less than our conventional understanding of money. He describes how the Western idea of money emerged from interactions between Mesopotamia and ancient Greece and was shaped over the centuries by tensions between sovereigns and the emerging middle classes. He explores the extraordinary diversity of the world’s monetary systems, from the Pacific island of Yap, where value was once measured by immovable stones, to the currency of today that exists solely on globally connected computer screens. Martin shows that money has always been a deeply political instrument, and that it is our failure to remember this that led to the crisis in our financial system and so to the Great Recession. He concludes with practical solutions to our current pressing, money-based problems.
Money: The Unauthorized Biography skips nimbly among such far-ranging topics as John Locke’s disastrous excursion into economic policy, Montesquieu’s faith in finance to discipline the power of kings, the social organization of ancient Sparta and the Soviet Union’s ill-fated attempt to abolish money and banking altogether. Throughout, Martin makes vivid sense of a chaotic and sometimes incoherent system—the everyday currency that we all share—in the clearest and most stimulating terms. This is a magisterial work of history and economics, with profound implications for the world today.