The system worked
Subtitle: how the world stopped another great depression
By: Daniel W. Drezner
Publisher: Oxford University Press
Published: 2014
Language: eng
Number of pages: 262
ISBN-13: 9780195373844
Subjects: Recessions; Government policy; Finance; Financial crises; Global Financial Crisis, 2008-2009; Economic history
Description: International institutions, from the International Monetary Fund to the International Olympic Committee, are perceived as bastions of sclerotic mediocrity at best and outright corruption at worst, and this perception is generally not far off the mark. In the wake of the 2008 financial crash, Daniel W. Drezner, like so many others, looked at the smoking ruins of the global economy and wondered why global economic governance structure had failed so spectacularly, and what could be done to reform them in the future. But then a funny thing happened. As he surveyed their actions in the wake of the crash, he realized that the evidence pointed to the exact opposite conclusion: global economic governance had succeeded.
Notes: Includes bibliographical references (pages193-256).
Table of contents: title: The puzzle of successful global governance; title: Yes, the system worked; title: Why the misperception?; title: Basel III and the role of interest; title: The role of power; title: The role of ideas; title: Where do we go from here?