The Hidden Hand of American Hegemony
Language: English
Published by Cornell University Press, 1999
- Hardcover
- New

Seller: Books Puddle, Woodside, NY, U.S.A.Books Puddle
AbeBooks seller since November 22, 2018
Condition: New
£ 61.95
Quantity: 4 available
Add to basketItem description from seller
Print on Demand pp. 208.
Seller Inventory # 262006757
- Title
- The Hidden Hand of American Hegemony
- Author
- David E. Spiro
- Publisher
- Cornell University Press
- Publication year
- 1999
- Condition
- New
- Binding
- Hardcover
- Language
- English
- ISBN 10
- 080142884X
- ISBN 13
- 9780801428845
This study... makes a significant contribution to the literature of international political economy. The book also is a useful point of departure for further exploration by historians of finance, economics, and business. The data on capital flows alone constitute a valuable resource for all analysts.... The book is closely argued within the author's established methodological framework. It engages the reader in lively argument.― Michael R. Adamson ― Business History Review
Between 1973 and 1980, the cost of crude oil rose suddenly and dramatically, precipitating convulsions in international politics. Conventional wisdom holds that international capital markets adjusted automatically and remarkably well: enormous amounts of money flowed into oil-rich states, and efficient markets then placed that new money in cash-poor Third World economies.
David Spiro has followed the money trail, and the story he tells contradicts the accepted beliefs. Most of the sudden flush of new oil wealth didn't go to poor oil-importing countries around the globe. Instead, the United States made a deal with Saudi Arabia to sell it U.S. securities in secret, a deal resulting in a substantial portion of Saudi assets being held by the U.S. government. With this arrangement, the U.S. government violated its agreements with allies in the developed world. Spiro argues that American policymakers took this action to prop up otherwise intolerable levels of U.S. public debt. In effect, recycled OPEC wealth subsidized the debt-happy policies of the U.S. government as well as the debt-happy consumption of its citizenry.
"Synopsis" may belong to another edition of this title.
About the Author
An international business consultant, David E. Spiro has taught political economy at Brandeis, Columbia, and Harvard universities.
"About the title" may belong to another edition of this title.
Books Puddle
Woodside, NY, U.S.A.
AbeBooks seller since November 22, 2018
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