The Cash Nexus: Economics and Politics from the Age of Warfare Through the Age of Welfare, 1700-2000

The Cash Nexus: Economics and Politics from the Age of Warfare Through the Age of Welfare, 1700-2000

by Niall Ferguson
     
 


Conventional wisdom has long claimed that economic change is the prime mover of political change, whether in the age of industry or Internet. But is it? Ferguson thinks it is high time we re-examined the link-the nexus, in Thomas Carlyle's phrase-between economics and politics. His central argument is that the conflicting impulses of sex, violence, and power are… See more details below

Overview


Conventional wisdom has long claimed that economic change is the prime mover of political change, whether in the age of industry or Internet. But is it? Ferguson thinks it is high time we re-examined the link-the nexus, in Thomas Carlyle's phrase-between economics and politics. His central argument is that the conflicting impulses of sex, violence, and power are together more powerful than money. Among Ferguson's startling claims are: · Nothing has done more to transform the world economy than war, yet wars themselves do not have primarily economic causes. · The present age of economic globalization is coinciding-paradoxically-with political and military fragmentation. · Financial crises are frequently caused by unforeseen political events rather than economic fluctuations. · The relationship between prosperity and government popularity is largely illusory. · Since political and economic liberalization are not self-perpetuating, the so-called triumph of democracy worldwide may be short-lived. · A bold synthesis of political history and modern economic theory, Cash Nexus will transform the landscape of modern history and draw challenging conclusions about the prospects of both capitalism and democracy.

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Product Details

ISBN-13:
9780465023264
Publisher:
Basic Books
Publication date:
01/31/2002
Edition description:
Reprint
Pages:
576
Sales rank:
719,429
Product dimensions:
8.88(w) x 11.02(h) x 1.54(d)

Table of Contents

List of Tables
List of Figures
List of Illustrations
Acknowledgements
Abbreviations
Introduction1
Sect. 1Spending and Taxing
1The Rise and Fall of the Warfare State25
2'Hateful Taxes'54
3The Commons and the Castle: Representation and Administration81
Sect. 2Promises to Pay
4Mountains of the Moon: Public Debts109
5The Money Printers: Default and Debasement142
6Of Interest169
Sect. 3Economic Politics
7Dead Weights and Tax-eaters: The Social History of Finance195
8The Myth of the Feelgood Factor224
9The Silverbridge Syndrome: Electoral Economics253
Sect. 4Global Power
10Masters and Plankton: Financial Globalization279
11Golden Fetters, Paper Chains: International Monetary Regimes315
12The American Wave: Democracy's Flow and Ebb341
13Fractured Unities369
14Understretch: The Limits of Economic Power387
Conclusion417
Appendices425
Notes433
Bibliography487
Index529

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