Barry Eichengreen Ordre des livres

"Public debts have exploded to levels unprecedented in recent history as governments responded to the COVID-19 pandemic. Their rise prompted apocalyptic warnings about the dangers of heavy debts - about the drag they will place on economic growth and for future generations. This book adds the other side of the equation: drawing on history, it provides a defence of public debt. It shows that the ability of governments to borrow has played a critical role in meeting emergencies, from wars and pandemics to economic and financial crises, as well as in funding essential public goods and services such as transportation, education and healthcare. In these ways, the capacity to issue debt has been integral to state building. Transactions in public debt securities have also contributed to the development of private financial markets and, through this channel, to modern economic growth. None of this is to deny that debt problems, debt crises and debt defaults occur. But these dramatic events, which attract much attention, are not the entire story. In Defence of Public Debt redresses the balance. It develops its arguments historically, recounting two millennia of public debt experience. It deploys a comprehensive database to identify the factors behind rising public debts and the circumstances under which high debts are successfully brought down. Finally, it brings the story up to date, describing the role of public debt in managing the Covid-19 pandemic and suggesting a way forward once governments, now more heavily indebted than before, finally emerge from the crisis"-- Provided by publisher

A powerful new understanding of global currency trends, including the rise of the Chinese yuan At first glance, the history of the modern global economy seems to support the long-held view that the currency of the world’s leading power invariably dominates international trade and finance. But in How Global Currencies Work, three noted economists overturn this conventional wisdom. Offering a new history of global finance over the past two centuries and marshaling extensive new data to test current theories of how global currencies work, the authors show that several national monies can share international currency status—and that their importance can change rapidly. They demonstrate how changes in technology and international trade and finance have reshaped the landscape of international currencies so that several international financial standards can coexist. In fact, they show that multiple international and reserve currencies have coexisted in the past—upending the traditional view of the British pound’s dominance before 1945 and the U.S. dollar’s postwar dominance. Looking forward, the book tackles the implications of this new framework for major questions facing the future of the international monetary system, including how increased currency competition might affect global financial stability.

Lucidly explaining both the appeals and dangers of populism across history, this book is essential reading for anyone seeking to understand not just the populist phenomenon, but more generally the lasting political fallout that follows in the wake of major economic crises.

Barry Eichengreens' Werk "Die großen Crashs 1929 und 2008" analysiert die Ursachen der Weltwirtschaftskrise und der Finanzkrise, die durch Kreditbooms und fragiles Finanzsystem bedingt sind. Es bietet umfassende Einblicke und lehrt, aus der Geschichte zu lernen, um zukünftige Fehler zu vermeiden.

The Great Depression and the Great Recession are the two great economic crises of the past hundred years. In Hall of Mirrors, Barry Eichengreen draws on his unparalleled expertise for a brilliantly conceived dual-track account of the two crises and their consequences.

"A brilliantly conceived dual-track account of the two greatest economic crises of the last century and their consequences"--

Die Ursachen der beiden größten ökonomischen Katastrophen in den letzten 100 Jahren, die Weltwirtschaftskrise in den 1930er-Jahren und die Finanzkrise seit 2008, gleichen einander wie ein Ei dem anderen. Beide entstanden infolge eines krassen Kreditbooms, dubioser Bankpraktiken sowie eines fragilen Finanzsystems. Und doch beriefen sich die Entscheidungsträger auf die falschen Lektionen, sodass die Krise nach mehr als sechs Jahren noch immer nicht ausgestanden ist. Die großen Crashs 1929 und 2008 ist DAS neue Hauptwerk der Wirtschaftsgeschichte und zeigt auf, welche Schlussfolgerungen aus der Geschichte der Großen Depressionen gezogen werden müssen, ehe dieselben Fehler in der nächsten Krise erneut gemacht werden. Kein anderes Werk erklärt die Geschichte der zwei größten Krisen umfassender und gibt weitreichendere Antworten

Das Privileg des Dollars beruhte in den letzten Jahrzehnten darauf, dass auf der ganzen Welt mit ihm bezahlt und in ihm abgerechnet wurde. Weit über 50 Jahre hatte der Dollar den Status der einzigen Weltleitwährung, was nicht zuletzt ein Resultat der führenden Rolle der USA als Wirtschaftssupermacht war. Der Zusammenhang von wirtschaftlicher Macht eines Staates und Rolle seiner Währung gilt auch im Zuge des Aufschwungs in China und Europa. Daher wächst die Bedeutung von Renminbi und Euro. In „Das Ende des Dollar-Privilegs“ zeichnet US-Starökonom Eichengreen den Aufstieg sowie die Rolle des US-Dollars im 19., 20. und 21. Jahrhundert nach und wirft einen Blick in die Zukunft. Wie wird es mit dem Dollar weitergehen? Können die USA ihr Privileg verteidigen? Nimmt der Euro die Rolle als Weltleitwährung ein? Und was bedeutet all das für die Weltwirtschaft? Die Antworten finden Sie in diesem Buch.

The story of how the dollar rose to global dominance in the twentieth century - and an assessment of what the future holds for the world's most important currency.

"In Global Imbalances and the Lessons of Bretton Woods, Barry Eichengreen takes issue with the argument that today's international financial system is largely analogous to the Bretton Woods system of the period 1958 to 1973. Then, as now, it has been argued, the United States ran balance of payment deficits, provided international reserves to other countries, and acted as export market of last resort for the rest of the world. Then, as now, the story continues, other countries were reluctant to revalue their currencies for fear of seeing their export-led growth slow and suffering capital losses on their foreign reserves. Eichengreen argues in response that the power of historical analogy lies not just in finding parallels but in highlighting differences, and indeed he finds important differences in the structure of the world economy today."--Jacket