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Capitalism, Not Globalism: Capital Mobility, Central Bank Independence, and the Political Control of the Economy (Michigan Studies in International Political Economy)

Capitalism, Not Globalism: Capital Mobility, Central Bank Independence, and the Political Control of the Economy (Michigan Studies in International Political Economy)
Author: William Roberts Clark
Publisher: University of Michigan Press
Category: Book

Sales Rank: 1633022

Media: Paperback
Number Of Items: 1
Pages: 224
Shipping Weight (lbs): 0.8
Dimensions (in): 8.8 x 6 x 0.7

ISBN: 0472031163
Dewey Decimal Number: 337
EAN: 9780472031160
ASIN: 0472031163

Publication Date: September 6, 2005
 
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Comments: Capitalism, Not Globalism shows that, while much has been made of recent changes in the international economy, the mechanisms by which politicians control the economy have not changed throughout the postwar period. Challenging both traditional and revisionist globalization theorists, William Roberts Clark argues that increased financial integration has led to neither a widening nor a narrowing of partisan differences in macroeconomic polices or outcomes. Rather, he shows that the absence of partisan differences in macroeconomic policy is a long-standing feature of democratic capitalist societies that can be traced to politicians' attempts to use the economy to help them survive in office. Changes in the structural landscape such as increased capital mobility and central bank independence do not necessarily diminish the ability of politicians to control the economy, but they do shape the strategies they use to do so. In a world of highly mobile capital, politicians manipulate moneta
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