Bøker av Martin Daunton

This is the history of the institutions and individuals who have managed the global economy, from the World Monetary and Economic Conference in the wake of the Great Depression to the present, as leading nations tackle the fallout from Covid-19 and the threats of inflation, food security and climate change. Since the Second World War, organisations created at Bretton Woods - the International Monetary Fund and the International Bank of Reconstruction and Development - and afterwards - the General Agreement on Trade and Tariffs and the Organisation for Economic Co-operation and Development - have left an indelible mark on our contemporary world.Martin Daunton examines the swings of the pendulum over ninety years between the forces of democracy, national determination and globalization. He shows that the structures of economic government have been overwhelmingly shaped by 'first world' powers, often to the dismay of developing countries. He argues that whilst structures cannot be separated from the politics of and between the biggest economies, future global recovery rests on the reduction of inequality and that multilateral institutions are fundamental in fostering inclusive growth.

An epic history of the people and institutions that have built the global economy since the Great Depression.In this vivid landmark history, the distinguished economic historian Martin Daunton pulls back the curtain on the institutions and individuals who have created and managed the global economy over the last ninety years, revealing how and why one economic order breaks down and another is built. During the Great Depression, trade and currency warfare led to the rise of economic nationalism-a retreat from globalization that culminated in war. From the Second World War came a new, liberal economic order. Squarely reflecting the interests of the West in the Cold War, liberalism faced collapse in the 1970s and was succeeded by neoliberalism, financialization, and hyper-globalization.Now, as leading nations are tackling the fallout from COVID-19 and threats of inflation, food insecurity, and climate change, Daunton calls for a return to a more just and equitable form of globalization. Western imperial powers have overwhelmingly determined the structures of world economic government, often advancing their own self-interests and leading to ruinous resource extraction, debt, poverty, and political and social instability in the Global South. He argues that while our current economic system is built upon the politics of and between the world's biggest economies, a future of global recovery-and the reduction of economic inequality-requires the development of multilateral institutions.Dramatic and revelatory, The Economic Government of the World offers a powerful analysis of the origins of our current global crises and a path toward a fairer international order.

An epic history of money, trade and development since 1933In 1933, Keynes reflected on the crisis of the Great Depression that arose from individualistic capitalism: 'It is not intelligent, it is not beautiful, it is not just, it is not virtuous - and it doesn't deliver the goods ... But when we wonder what to put in its place, we are extremely perplexed.' We are now in a similar state of perplexity, wondering how to respond to the economic problems of the world.Martin Daunton examines the changing balance over ninety years between economic nationalism and globalization, explaining why one economic order breaks down and how another one is built, in a wide-ranging history of the institutions and individuals who have managed the global economy. In 1933, the World Monetary and Economic Conference brought together the nations of the world: it failed. Trade and currency warfare led to economic nationalism and a turn from globalization that culminated in war. During the Second World War, a new economic order emerged - the embedded liberalism of Bretton Woods, the International Monetary Fund and the International Bank for Reconstruction and Development - and the post-war General Agreement on Tariffs and Trade. These institutions and their rules created a balance between domestic welfare and globalization, complemented by a social contract between labour, capital and the state to share the benefits of economic growth.Yet this embedded liberalism reflected the interests of the 'west' in the Cold War: in the 1970s, it faced collapse, caused by its internal weaknesses and the breakdown of the social contract, and was challenged by the Third World as a form of neo-colonialism. It was succeeded by neoliberalism, financialisation and hyper-globalization. In 2008, the global financial crash exposed the flaws of neoliberalism without leading to a fundamental change. Now, as leading nations are tackling the fall-out from Covid-19 and the threats of inflation, food security and the existential risk of climate change, Martin Daunton calls for a return to a globalization that benefits many of the world's poor and a fairer capitalism that delivers domestic welfare and equality.The Economic Government of the World is the first history to show how trade, international monetary relations, capital mobility and development impacted on and influenced each other. Martin Daunton places these economic relations in the geo-political context of the twentieth century, and considers the importance of economic ideas and of political ideology, of electoral calculations and institutional design. The book rests on extensive archival research to provide a powerful analysis of the origins of our current global crisis, and suggests how we might build a fairer international order.