Bankers' Alliances and Economic Policy Patterns

1991 ◽  
Vol 23 (4) ◽  
pp. 419-458 ◽  
Author(s):  
SYLVIA MAXFIELD
Keyword(s):  
Economic Policy ◽  
Central Bank ◽  
Political Influence ◽  
Preliminary Evidence ◽  
Public And Private ◽  
Limited Government ◽  
Investment Financing ◽  
Long Run ◽  
History Of ◽  
Organizational Features

This article suggests an organizational or institutional explanation of economic policy patterns which differs significantly from state- or society-centered explanations and those based on international factors. Bankers' alliances, defined as interest coalitions of public and private financiers, play an important role in shaping economic policy. The stronger the bankers' alliance, the more likely that long-run economic policy patterns will feature orthodox policies such as tight monetary policy and limited government intervention in financial or foreign exchange markets. The historical organization of state economic agencies, and of capital, create national environments more or less conducive to formation of strong bankers' alliances. The three key variables center on: (a) the timing and actors involved in central bank formation, (b) the relationship between the central bank and other state economic policy-making agencies, and (c) the extent of conglomeration between industrial and financial enterprises and its impact on state control of investment financing. Comparative history of the Mexican and Brazilian cases provides preliminary evidence with which to explore the proposed relationship between organizational features of the state and capital, the political influence of bankers' alliances, and economic policy patterns.

scholarly journals Corruption & State Capture: What Can Citizens Do?

Daedalus ◽  
2018 ◽  
Vol 147 (3) ◽  
pp. 169-183 ◽  
Author(s):  
Sarah Bracking
Keyword(s):  
Private Sector ◽  
Social Order ◽  
Public Administrators ◽  
Constitutional Democracy ◽  
Public And Private ◽  
The Public ◽  
Long Run ◽  
State Capture ◽  
History Of ◽  
Traditional Class

Given South Africa's recent history of corrupt state capture, the country faces two possible futures: a further decline into spoils politics or a return to an improved constitutional democracy. This essay argues that the latter is more likely in the long run, but is by no means guaranteed. Achieving such a future requires public administrators, citizens, the private sector, and top lawmakers to insist on a public-focused social order. This essay suggests that a coalition of anticorruption agents must be built across the public and private sectors, and that this effort will be successful to the extent that it can link people across traditional class and race divides.

The end of Alchemy of Finance and Sovereign Money (on the books by M. King “The end of Alchemy: Money, Banking and the Future of the Global Economy” and by J. Huber “Sovereign Money. Beyond Reserve Banking”)

2017 ◽  
pp. 131-141 ◽  
Author(s):  
V. Yefimov
Keyword(s):  
Economic Policy ◽  
Central Bank ◽  
Institutional Theory ◽  
Money Supply ◽  
Government Spending ◽  
Global Economy ◽  
Private Banks ◽  
Money Creation ◽  
Ministry Of Finance ◽  
Reserve Banking

The review discusses the institutional theory of money considered in the books by King and Huber, and the conclusions that follow from it for economic policy. In accordance with this theory, at present the most of the money supply is created not by the Central Bank but by private banks. When a bank issues a loan, new money is created, and when the loan is repaid this money is destructed. The concept of sovereign money involves the monopoly of money creation of the central bank. In this case the most of newly created money is handed over to the ministry of finance to implement government spending.

Forming Sources of Long-run Growth: How to Understand Them?

2014 ◽  
pp. 4-20 ◽  
Author(s):  
G. Idrisov ◽  
S. Sinelnikov-Murylev
Keyword(s):  
Economic Growth ◽  
Growth Rate ◽  
Economic Policy ◽  
Business Cycle ◽  
Capital Markets ◽  
Productivity Growth ◽  
Government Spending ◽  
Long Run ◽  
Accelerate Growth ◽  
Budget Institutions

The paper analyzes the inconsequence and problems of Russian economic policy to accelerate economic growth. The authors consider three components of growth rate (potential, Russian business cycle and world business cycle components) and conclude that in order to pursue an effective economic policy to accelerate growth, it has to be addressed to the potential (long-run) growth component. The main ingredients of this policy are government spending restructuring and budget institutions reform, labor and capital markets reforms, productivity growth.

The age of symbolic economic policies?

2015 ◽  
Vol 37 (2) ◽  
pp. 245-265
Author(s):  
Peter Galbács
Keyword(s):  
Economic Policy ◽  
Theoretical Framework ◽  
Policy Tools ◽  
Economic Policies ◽  
Mainstream Economics ◽  
History Of ◽  
Theoretical Considerations ◽  
Macroeconomic Environment

This paper offers a few remarks on the so-called heterodoxy commentaries of recent times (e.g. Bod 2013, Csaba 2011). In accordance with the growing popularity of unusual economic policy actions, a set of “tools” is emerging that aims to exert its effects breaking with instrumental actions. Outlining a special framework of the history of mainstream economics, it will be argued that economic policy only gradually has become capable of applying this system. In our view, both the emergence of symbolic economic policies mentioned above and the rise of heterodoxy are on the same level, since certain governments can only operate through giving signals. Although it is not the time to formulate ultimate and eternal generalised statements, it may perhaps be stated that symbolic economic policies can make some room for manoeuvring available as a last resort. In other words, the possibility of a certain kind of economic policy “tools” can be derived from theoretical considerations, and this set has become highlighted recently by some constraining changes in the macroeconomic environment. Our theoretical framework will be filled sporadically with some episodes from the last few years of the economic policy of Hungary.

The Russian Librarianship in Shanghai

2013 ◽  
pp. 93-96
Author(s):  
Amir A. Khisamutdinov
Keyword(s):  
Public And Private ◽  
History Of ◽  
First Time

The article is devoted to the history of librarianship in Shanghai in the Russian emigration community. For the first time there is described the activities of public and private libraries, and paid attention to the individuals who contributed to forming of these funds.

China's Western Horizon

2020 ◽  
Author(s):  
Daniel S. Markey
Keyword(s):  
Political Influence ◽  
The United States ◽  
The Political ◽  
Regional Politics ◽  
National Wealth ◽  
Long Run ◽  
Political Implications ◽  
Foreign Policies ◽  
Belt And Road ◽  
Infrastructure Investments

This book explains how China’s new foreign policies like the vaunted “Belt and Road” Initiative are being shaped by local and regional politics outside China and assesses the political implications of these developments for Eurasia and the United States. It depicts the ways that President Xi Jinping’s China is zealously transforming its national wealth and economic power into tools of global political influence and details these developments in South Asia, Central Asia, and the Middle East. Drawing from extensive interviews, travels, and historical research, it describes how perceptions of China vary widely within states like Pakistan, Kazakhstan, and Iran. Eurasia’s powerful and privileged groups often expect to profit from their connections to China, while others fear commercial and political losses. Similarly, statesmen across Eurasia are scrambling to harness China’s energy purchases, arms sales, and infrastructure investments as a means to outdo their strategic competitors, like India and Saudi Arabia, while negotiating relations with Russia and America. The book finds that, on balance, China’s deepening involvement will play to the advantage of regional strongmen and exacerbate the political tensions within and among Eurasian states. To make the most of America’s limited influence along China’s western horizon (and elsewhere), it argues that US policymakers should pursue a selective and localized strategy to serve America’s aims in Eurasia and to better compete with China over the long run.

scholarly journals Just Mothering: Amy Coney Barrett and the Racial Politics of American Motherhood

Laws ◽  
2021 ◽  
Vol 10 (2) ◽  
pp. 36
Author(s):  
H. Howell Williams
Keyword(s):  
Middle Class ◽  
Political Development ◽  
American Political Development ◽  
White Family ◽  
Public And Private ◽  
Close Analysis ◽  
History Of ◽  
Republican Motherhood ◽  
A Site ◽  
Confirmation Hearings

Justice Amy Coney Barrett’s nomination and confirmation featured frequent references to her role as a mother. This article situates these references within the trajectory of American political development to demonstrate how motherhood operates as a mechanism for enforcing a white-centered racial order. Through a close analysis of both the history of politicized motherhood as well as Barrett’s nomination and confirmation hearings, I make a series of claims about motherhood and contemporary conservatism. First, conservatives stress the virtuousness of motherhood through a division between public and private spheres that valorizes the middle-class white mother. Second, conservatives emphasize certain mothering practices associated with the middle-class white family. Third, conservatives leverage an epistemological claim about the universality of mothering experiences to universalize white motherhood. Finally, this universalism obscures how motherhood operates as a site in which power distinguishes between good and bad mothers and allocates resources accordingly. By attending to what I call the “republican motherhood script” operating in contemporary conservatism, I argue that motherhood is an ideological apparatus for enforcing a racial order premised on white protectionism.

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