The social sources of financial power
Subtitle: domestic legitimacy and international financial orders
By: Leonard Seabrooke.
Series: Cornell studies in political economy
Publisher: Cornell University Press
Published: 2006
Place of publication: Ithaca, N.Y
Language: eng
Number of pages: 223
ISBN-13: 9780801443800
Subjects: International finance -- Social aspects.; International finance -- Political aspects.; Economic policy -- Social aspects.; Legitimacy of governments.; Economic assistance, Domestic -- Political aspects.; Economics -- Sociological aspects.
Description: "A state's financial power is built on the effect its credit, property, and tax policies have on ordinary people: this is the key message of Leonard Seabrooke's comparative historical investigation, which turns the spotlight away from elite financial actors and toward institutions that matter for the majority of citizens. Seabrooke suggests that everyday contests between social groups and the state over how the economy should work determine the legitimacy of a state's financial and fiscal system. Ideally, he believes, such contests compel a state to intervene on behalf of people below the median income level, leading the state to broaden and deepen its domestic pool of capital while increasing its influence on international finance. But to do so, Seabrooke asserts, a state must first challenge powerful interests that benefit from the concentration of financial wealth." "Seabrooke's novel constructivist approach is informed by economic sociology and the work of Max Weber. This book demonstrates how domestic legitimacy influences the character of international financial orders. It will interest all readers concerned with how best to transform state intervention in the economy for the good of the majority."--Jacket.
Notes: Includes bibliographical references and index.
Table of contents: title: Legitimacy is a social source of financial power; title: Legitimacy in political economy; title: The financial reform nexus in England; title: The financial reform nexus in Germany; title: The financial reform nexus in the United States; title: The financial reform nexus in Japan; title: The social sources of international financial orders; title: Liquid conventions, saturating norms; title: Epilogue : the George W. Bush rentier shift.