Suchergebnisse

Europe's financial crisis cannot be blamed on the Euro, Harold James contends in this probing exploration of the whys, whens, whos, and what-ifs of European monetary union. The current crisis goes deeper, to a series of problems that were debated but not resolved at the time of the Euro's invention. Since the 1960s, Europeans had been looking for a way to address two conundrums simultaneously: the dollar's privileged position in the international monetary system, and Germany's persistent current account surpluses in Europe. The Euro was created under a politically independent central bank to meet the primary goal of price stability. But while the monetary side of union was clearly conceived, other prerequisites of stability were beyond the reach of technocratic central bankers. Issues such as fiscal rules and Europe-wide banking supervision and regulation were thoroughly discussed during planning in the late 1980s and 1990s, but remained in the hands of member states. That omission proved to be a cause of crisis decades later. Here is an account that helps readers understand the European monetary crisis in depth, by tracing behind-the-scenes negotiations using an array of sources unavailable until now, notably from the European Community's Committee of Central Bank Governors and the Delors Committee of 1988-89, which set out the plan for how Europe could reach its goal of monetary union. As this foundational study makes clear, it was the constant friction between politicians and technocrats that shaped the Euro. And, Euro or no Euro, this clash will continue into the future.

The history of Krupp is the history of modern Germany. No company symbolized the best and worst of that history more than the famous steel and arms maker. In this book, Harold James tells the story of the Krupp family and its industrial empire between the early nineteenth century and the present, and analyzes its transition from a family business to one owned by a nonprofit foundation. Krupp founded a small steel mill in 1811, which established the basis for one of the largest and most important companies in the world by the end of the century. Famously loyal to its highly paid workers, it

Wenn ganze Finanzsystemen von radikalem Vertrauensentzug betroffen sind, so können dem nur Einrichtungen nachhaltig entgegentreten, die einen fast unbegrenzten Zugriff auf Ressourcen haben. Solche Einrichtungen können auch "Selbsthilfegruppen" sein, wie etwa ein Pool mächtiger Banken, wie das 1907 der Fall war. Der US-Finanzminister hatte, in der Tat, am 24. September 2008 versucht, genau eine solche Pool-Lösung zu schaffen. Aber in einem Klima umfassender Unsicherheit kann Selbsthilfe nicht mehr greifen. Regierungen und Zentralbanken müssen einspringen, denn allein sie sind groß und schnell genug, und zudem müssen sich die Zentralbanken bei ihren "fiscal bailouts" immer stärker auf ihre jeweilige Regierung stützen. In der amerikanischen Politik wird ein neuer Staatskapitalismus als die werdende globale Wirklichkeit behandelt. Ein solcher Konsens zeichnet sich über Atlantik und Pazifik hinweg gleichermaßen ab. Diese Entwicklung wird die Politik der Nationalstaaten Europas und der Europäischen Integration verändern. Sie wird insbesondere die Bedeutung der kleinen Mitgliedstaaten deutlich mindern, denn sie können den neuen Herausforderungen am wenigsten gerecht werden.

Modern America owes the Roman Empire for more than gladiator movies and the architecture of the nation's Capitol. It can also thank the ancient republic for some helpful lessons in globalization. So argues economic historian Harold James in this masterful work of intellectual history. The book addresses what James terms "the Roman dilemma"--The paradoxical notion that while global society depends on a system of rules for building peace and prosperity, this system inevitably leads to domestic clashes, international rivalry, and even wars. As it did in ancient Rome, James argues, a rule-based world order eventually subverts and destroys itself, creating the need for imperial action. The result is a continuous fluctuation between pacification and the breakdown of domestic order. James summons this argument, first put forth more than two centuries ago in Adam Smith's Wealth of Nations and Edward Gibbon's Decline and Fall of the Roman Empire, to put current events into perspective. The world now finds itself staggering between a set of internationally negotiated trading rules and exchange--rate regimes, and the enforcement practiced by a sometimes-imperial America. These two forces--liberal international order and empire--will one day feed on each other to create a shakeup in global relations, James predicts. To reinforce his point, he invokes the familiar bon mot once applied to the British Empire: "When Britain could not rule the waves, it waived the rules." Despite the pessimistic prognostications of Smith and Gibbon, who saw no way out of this dilemma, James ends his book on a less depressing note. He includes a chapter on one possible way in which the world could resolve the Roman Predicament--by opting for a global system based on values as opposed to rules

The Deutsche Bank, Germany's largest financial institution, played an important role in the expropriation of Jewish-owned enterprises during the Nazi dictatorship, both in the existing territories of Germany, and in the area seized by the German army during World War II. In this 2001 book Harold James uses new and previously unavailable materials, many from the bank's own archives, to examine policies which led to the eventual genocide of European Jews. How far did the realization of the vicious and destructive Nazi ideology depend on the acquiescence, the complicity, and the cupidity of existing economic institutions, and individuals? In response to the traditional view that business co-operation with the Nazi regime was motivated by profit, this book closely examines the behaviour of the bank and its individuals to suggest other motivations. No comparable study exists of a single company's involvement in the economic persecution of the Jews in Nazi Germany