Product Description

We have become so used to the ubiquity and speed of our modern, global, highly integrated financial system, that it is easy to forget that it is a relatively recent phenomenon. This book traces this system's evolution from its beginnings in the 18th century, outlining the growth of financial markets and the development of bond trading, and how these paved the way for the modern stock-market. The history of international trade policies and trading blocs is explored, and the book explains how economic powers such as Britain and France used access to financial capital as leverage in wielding political power in less-developed parts of the world. It provides a history of financial crises and reveals how economic shocks reverberate from one country to another today through the global financial network. The rise of private merchant bankers is described, as is the growth of banks, the emergence of institutions such as the International Monetary Fund and the World Bank, the evolution of modern paper money, and the repercussions of criminal and illegal activities.

Product Details

• Amazon Sales Rank: #649440 in Books
• Published on: 2001-08-31
• Original language: English
• Number of items: 1
• Binding: Hardcover
• 296 pages

Irish Times, September 7th, 2oo1
'an enjoyable, easy-to-read book...an excellent general economic history [that] makes fascinating reading.'