{"product_id":"a-political-economy-of-american-hegemony-buildups-booms-and-busts-hardback-9781107090644","title":"A Political Economy of American Hegemony; Buildups, Booms, and Busts (Hardback) 9781107090644","description":"\u003cfont face=\"Georgia\"\u003e\r\n\u003cp\u003e\u003cfont size=\"6\"\u003eA Political Economy of American Hegemony\u003c\/font\u003e\u003cbr\u003e\r\n\u003cfont size=\"5\"\u003eBuildups, Booms, and Busts\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cem\u003eThis book demonstrates that episodes of major financial instability develop when the United States engages in large deficit-financed military buildup.\u003c\/em\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003cp\u003e\u003cfont size=\"4\"\u003eThomas Oatley (Author)\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e9781107090644, Cambridge University Press\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eHardback, published 23 February 2015\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e209 pages, 36 b\/w illus.  11 tables\u003cbr\u003e23.5 x 15.8 x 1.5 cm, 0.42 kg\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\r\n\r\n\u003cp align=\"justify\"\u003e\u003cstrong\u003e\u003cfont size=\"3\"\u003eIn A Political Economy of American Hegemony, Thomas Oatley explores how America's military buildups have produced postwar economic booms that have culminated in monetary and financial crises. The 2008 subprime crisis - as well as the housing bubble that produced it - was the most recent manifestation of this buildup, boom, and bust cycle, developing as a consequence of the decision to deficit-finance the wars in Afghanistan and Iraq. Earlier instances of financial crises were generated by deficit-financed buildups in the 1980s and the late 1960s. The buildup, boom, and bust pattern results from the way political institutions and financial power shape America's response to military challenges: political institutions transform increased military spending into budget deficits, and financial power enables the United States to finance these deficits by borrowing cheaply from the rest of the world. Oatley examines how this cycle has had a powerful impact on American and global economic and financial performance.\u003c\/font\u003e\u003c\/strong\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e1. The political economy of imbalance\u003cbr\u003e 2. National security shocks and military buildups\u003cbr\u003e 3. Warfare, welfare, and the size of the American state\u003cbr\u003e 4. Buildups and booms\u003cbr\u003e 5. Deflecting the costs of adjustment\u003cbr\u003e 6. The financial consequences of America's postwar booms\u003cbr\u003e 7. The political economy of American hegemony.\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eSubject Areas: Political economy [\u003ca title=\"See our other books on Political economy\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22Political%20economy%20%5BKCP%5D%22\"\u003eKCP\u003c\/a\u003e], Politics \u0026amp; government [\u003ca title=\"See our other books on Politics \u0026amp; government\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22Politics%20\u0026amp;%20government%20%5BJP%5D%22\"\u003eJP\u003c\/a\u003e]\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003c\/font\u003e","brand":"Cambridge University Press","offers":[{"title":"Default Title","offer_id":46006038757656,"sku":"9781107090644","price":56.99,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0730\/2037\/5320\/products\/9781107090644i_f3401398-19f8-49a7-b764-0affcc8cab23.jpg?v=1696792097","url":"https:\/\/freshlyprintedbooks.co.uk\/products\/a-political-economy-of-american-hegemony-buildups-booms-and-busts-hardback-9781107090644","provider":"Freshly Printed Books","version":"1.0","type":"link"}