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OverviewWhose fault are financial crises, and who is responsible for stopping them, or repairing the damage? Impunity and Capitalism develops a new approach to the history of capitalism and inequality by using the concept of impunity to show how financial crises stopped being crimes and became natural disasters. Trevor Jackson examines the legal regulation of capital markets in a period of unprecedented expansion in the complexity of finance ranging from the bankruptcy of Europe's richest man in 1709, to the world's first stock market crash in 1720, to the first Latin American debt crisis in 1825. He shows how, after each crisis, popular anger and improvised policy responses resulted in efforts to create a more just financial capitalism but succeeded only in changing who could act with impunity, and how. Henceforth financial crises came to seem normal and legitimate, caused by impersonal international markets, with the costs borne by domestic populations and nobody in particular at fault. Full Product DetailsAuthor: Trevor Jackson (George Washington University, Washington DC)Publisher: Cambridge University Press Imprint: Cambridge University Press ISBN: 9781009014748ISBN 10: 1009014749 Pages: 322 Publication Date: 25 January 2024 Audience: General/trade , General Format: Paperback Publisher's Status: Active Availability: Manufactured on demand  We will order this item for you from a manufactured on demand supplier. Table of ContentsIntroduction; Part I: Preface: Impunity at the Origins of Financial Capitalism: 1. Professionalizing impunity: from the failures of 1709 to the crisis of 1720; 2. The crisis of 1720 and the invention of discredit; 3. Between independence and impunity: the legitimacy of central banking after the crisis of 1720; Part II: Preface: Revolutionary Impunity: 4. The end of the old financial regime, 1781–1793; 5. Recasting financial capitalism, 1796–1821; Part III: Preface: The Gold Standard and a Stable Impunity, 1815–1830: 6. The panic of 1825 and the systematization of impunity; Conclusion: monetary policy as conscience management.Reviews'Jackson's account is well worth reading because of the power and continuing resonance of his central insight - impunity facilitated capitalism.' Robert Kuttner, The New York Review of Books Author InformationTrevor Jackson is Assistant Professor of History at George Washington University. Tab Content 6Author Website:Countries AvailableAll regions |
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