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New Releases. Description Richard Westra's "The Evil Axis of Finance" fills in pages left blank in the flurry of meltdown writings with a highly accessible account of the insidious forces at work in the global economy.
Westra explains, why, despite the existence of a raft of potential international investment outlets, a major share of global wealth and savings is still impelled toward the highly dubious Wall Street-centred casino; why an increasingly gaping chasm has opened up between ever bloating global financial activities and the "real" world economy of production and trade; why wealthy governments' injection of trillions of dollars into stumbling financial sectors across the globe is failing to create decent new jobs; and why, nonetheless, this remains the preferred solution.
He exposes the destructive systemic conditions that make it possible for the US and Wall Street to play a central role in international economic affairs when the US has the world's largest national debt, a gaping trade deficit, an ongoing capital account deficit, an exploding budget deficit, and personal savings hovering near zero. The story Westra tells of international economic depredation and humanity's stolen future is truly chilling.
- The Evil Axis of Finance : Richard Westra : ;
- THE EVIL AXIS OF FINANCE The US-Japan-China Stranglehold on the Global Future – CLARITY PRESS.
- His Living Sculpture.
From its Wall Street command centre, and funded by Japan and China, the United States ensnares the world's states and people in a sinister, rigged, zero-sum game. Yet, by the s, as Germany and Japan surpassed US industrial prowess, their own multinational corporations MNCs now prowling world markets, the US economy became a victim of the very success of the international system it helped create.
THE EVIL AXIS OF FINANCE The US-Japan-China Stranglehold on the Global Future
Two key features of this system had potential conflict of interest written all over them. First, the possibility of maintaining exchange rate stability hinged on the exchange rate of all currencies in the post WWII international system being fixed in terms of the US dollar. The dollar exchange rate was then fixed in terms of gold. Only if dollars were accumulated in excess by this or that country would gold ever be brought into the equation and dollars be redeemed for it. Only on the basis of fiat money could major economies maintain welfare states and regimes of macroeconomic policymaking.
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Much to its chagrin, as US competitiveness waned, international demands increased to exchange accumulating dollar surpluses for gold. In , the US responded by closing the gold window to unilaterally exit Bretton Woods. But US difficulties did not end there.
US waning global competitiveness had domestic origins in declining MNC profits and slowed investment that its casting of blame upon allies disguised. Jacqueline M. Burns - - Daena 7 3 Downloads Sorry, there are not enough data points to plot this chart. Sign in to use this feature. This article has no associated abstract. No keywords specified fix it.
No categories specified categorize this paper. Applied ethics. History of Western Philosophy.
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