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Beyond the Market: The Social Foundations of Economic Efficiency
Par Jens Beckert. 2003
Beyond the Market launches a sociological investigation into economic efficiency. Prevailing economic theory, which explains efficiency using formalized rational choice…
models, often simplifies human behavior to the point of distortion. Jens Beckert finds such theory to be particularly weak in explaining such crucial forms of economic behavior as cooperation, innovation, and action under conditions of uncertainty--phenomena he identifies as the proper starting point for a sociology of economic action. Beckert levels an enlightened critique at neoclassical economics, arguing that understanding efficiency requires looking well beyond the market to the social, cultural, political, and cognitive factors that influence the coordination of economic action. Beckert searches social theory for the components of an alternative theory of action, one that accounts for the social embedding of economic behavior. In Durkheim and Parsons he finds especially useful approaches to cooperation; in Luhmann, a way to understand how people act under highly contingent conditions; and in Giddens, an understanding of creative action and innovation. Together, these provide building blocks for a research program that will yield a theoretically sophisticated understanding of how economic processes are coordinated and the ways that markets are embedded in social, cultural, and cognitive structures. Containing one of the most fully informed critiques of the neoclassical analysis of economic efficiency--as well as one of the most thoughtful blueprints for economic sociology--this book reclaims for sociology the study of one of the most important arenas of human action.The Handbook of Economic Sociology: Second Edition
Par Neil J. Smelser and Richard Swedberg. 2005
The Handbook of Economic Sociology, Second Edition is the most comprehensive and up-to-date treatment of economic sociology available. The first…
edition, copublished in 1994 by Princeton University Press and the Russell Sage Foundation as a synthesis of the burgeoning field of economic sociology, soon established itself as the definitive presentation of the field, and has been widely read, reviewed, and adopted. Since then, the field of economic sociology has continued to grow by leaps and bounds and to move into new theoretical and empirical territory. The second edition, while being as all-embracing in its coverage as the first edition, represents a wholesale revamping. Neil Smelser and Richard Swedberg have kept the main overall framework intact, but nearly two-thirds of the chapters are new or have new authors. As in the first edition, they bring together leading sociologists as well as representatives of other social sciences. But the thirty chapters of this volume incorporate many substantial thematic changes and new lines of research--for example, more focus on international and global concerns, chapters on institutional analysis, the transition from socialist economies, organization and networks, and the economic sociology of the ancient world. The Handbook of Economic Sociology, Second Edition is the definitive resource on what continues to be one of the leading edges of sociology and one of its most important interdisciplinary adventures. It is a must read for all faculty, graduate students, and undergraduates doing work in the field. A thoroughly revised and updated version of the most comprehensive treatment of economic sociology available Almost two-thirds of the chapters are new or have new authors Authors include leading sociologists as well as representatives of other social sciences Substantial thematic changes and new lines of research, including more focus on international and global concerns, institutional analysis, the transition from socialist economies, and organization and networks The definitive resource on what continues to be one of the leading edges of sociology and one of its most important interdisciplinary adventures A must read for faculty, graduate students, and undergraduates doing work in the fieldWorldly Philosopher: The Odyssey of Albert O. Hirschman
Par Jeremy Adelman. 2013
The life and times of one of the most provocative thinkers of the twentieth centuryWorldly Philosopher chronicles the times and…
writings of Albert O. Hirschman, one of the twentieth century's most original and provocative thinkers. In this gripping biography, Jeremy Adelman tells the story of a man shaped by modern horrors and hopes, a worldly intellectual who fought for and wrote in defense of the values of tolerance and change. This is the first major account of Hirschman’s remarkable life, and a tale of the twentieth century as seen through the story of an astute and passionate observer. Adelman’s riveting narrative traces how Hirschman’s personal experiences shaped his unique intellectual perspective, and how his enduring legacy is one of hope, open-mindedness, and practical idealism.Since its original publication in 2000, Game Theory Evolving has been considered the best textbook on evolutionary game theory. This…
completely revised and updated second edition of Game Theory Evolving contains new material and shows students how to apply game theory to model human behavior in ways that reflect the special nature of sociality and individuality. The textbook continues its in-depth look at cooperation in teams, agent-based simulations, experimental economics, the evolution and diffusion of preferences, and the connection between biology and economics. Recognizing that students learn by doing, the textbook introduces principles through practice. Herbert Gintis exposes students to the techniques and applications of game theory through a wealth of sophisticated and surprisingly fun-to-solve problems involving human and animal behavior. The second edition includes solutions to the problems presented and information related to agent-based modeling. In addition, the textbook incorporates instruction in using mathematical software to solve complex problems. Game Theory Evolving is perfect for graduate and upper-level undergraduate economics students, and is a terrific introduction for ambitious do-it-yourselfers throughout the behavioral sciences. Revised and updated edition relevant for courses across disciplines Perfect for graduate and upper-level undergraduate economics courses Solutions to problems presented throughout Incorporates instruction in using computational software for complex problem solving Includes in-depth discussions of agent-based modelingSuper Cats: Inspirational True Stories of Real-Life Cat Heroes That Will Melt Your Heart
Par Ashley Morgan. 2023
Discover the true tales of extraordinary felines with this heart-warming and inspirational collection, perfect for fans of A Streetcat Named…
Bob and Nala's WorldMeet some of the world's most incredible real-life cat heroes in this awesome compendium of true stories, including: Scarlett, the brave mother who went into a burning building five times to rescue her kittens. Emily, the cat who survived an epic journey across the Atlantic trapped in a shipping container from America to France. Oscar, the care-home cat who predicts when residents are about to pass on and comforts them in their final hours. Whether they're testing the boundaries of their nine lives or demonstrating unusual talents, cats are always full of surprises. In Super Cats, prepare to meet the most surprising of all.From loyal companions who put their lives at risk to help others to intuitive cats who detected danger when no one else did, these extraordinary felines will capture your heart and make you marvel at their astonishing powers.The Origins of Modern Banking in Spain: The Role of Monetary Plurality (ISSN)
Par Carles Sudrià, Yolanda Blasco-Martel. 2019
This book analyses the formation of the Spanish banking system. It provides a general overview of European financial systems in…
operation during the mid-nineteenth century, followed by a detailed analysis of the economic and institutional changes that gave rise to a new form of banking in Spain.The chapters analyse changes on banking regulation; study the social origin of banks’ promoters; investigate the economic results of banks; and evaluate the interaction between banks and the economy as a whole. Finally, the causes, extent and consequences of monetary plurality in Spain and its European context are discussed. As such, this book covers the gap that exists in the Spanish banking historiography. Until now only the Bank of Spain and its predecessors had been adequately examined. As the Bank of Spain acted mostly as the state’s financial agent, we know very little about private-sector financing. This text provides data and analysis for a more comprehensive view of early Spanish financial development in a comparative European framework. The Origins of Modern Banking in Spain should be considered essential reading for financial history students and scholars, as well as anybody interested in longview approaches to modern financial development.After Adam Smith: A Century of Transformation in Politics and Political Economy
Par Murray Milgate, Shannon C. Stimson. 2009
How writers after Adam Smith helped shape our thinking about economics and politicsFew issues are more central to our present…
predicaments than the relationship between economics and politics. In the century after Adam Smith's Wealth of Nations the British economy was transformed. After Adam Smith looks at how politics and political economy were articulated and altered. It considers how grand ideas about the connections between individual liberty, free markets, and social and economic justice sometimes attributed to Smith are as much the product of gradual modifications and changes wrought by later writers.Thomas Robert Malthus, David Ricardo, James Mill, John Stuart Mill, and other liberals, radicals, and reformers had a hand in conceptual transformations that culminated in the advent of neoclassical economics. The population problem, the declining importance of agriculture, the consequences of industrialization, the structural characteristics of civil society, the role of the state in economic affairs, and the possible limits to progress were questions that underwent significant readjustments as the thinkers who confronted them in different times and circumstances reworked the framework of ideas advanced by Smith—transforming the dialogue between politics and political economy. By the end of the nineteenth century an industrialized and globalized market economy had firmly established itself. By exploring how questions Smith had originally grappled with were recast as the economy and the principles of political economy altered during the nineteenth century, this book demonstrates that we are as much the heirs of later images of Smith as we are of Smith himself.Many writers helped shape different ways of thinking about economics and politics after Adam Smith. By ignoring their interventions we risk misreading our past—and also misusing it—when thinking about the choices at the interface of economics and politics that confront us today.Recursive Models of Dynamic Linear Economies (The Gorman Lectures in Economics #6)
Par Lars Peter Hansen, Thomas J. Sargent. 2014
A guide to the economic modeling of household preferences, from two leaders in the fieldA common set of mathematical tools…
underlies dynamic optimization, dynamic estimation, and filtering. In Recursive Models of Dynamic Linear Economies, Lars Peter Hansen and Thomas Sargent use these tools to create a class of econometrically tractable models of prices and quantities. They present examples from microeconomics, macroeconomics, and asset pricing. The models are cast in terms of a representative consumer. While Hansen and Sargent demonstrate the analytical benefits acquired when an analysis with a representative consumer is possible, they also characterize the restrictiveness of assumptions under which a representative household justifies a purely aggregative analysis.Hansen and Sargent unite economic theory with a workable econometrics while going beyond and beneath demand and supply curves for dynamic economies. They construct and apply competitive equilibria for a class of linear-quadratic-Gaussian dynamic economies with complete markets. Their book, based on the 2012 Gorman lectures, stresses heterogeneity, aggregation, and how a common structure unites what superficially appear to be diverse applications. An appendix describes MATLAB programs that apply to the book's calculations.The classic introduction to the New Keynesian economic modelThis revised second edition of Monetary Policy, Inflation, and the Business Cycle…
provides a rigorous graduate-level introduction to the New Keynesian framework and its applications to monetary policy. The New Keynesian framework is the workhorse for the analysis of monetary policy and its implications for inflation, economic fluctuations, and welfare. A backbone of the new generation of medium-scale models under development at major central banks and international policy institutions, the framework provides the theoretical underpinnings for the price stability–oriented strategies adopted by most central banks in the industrialized world.Using a canonical version of the New Keynesian model as a reference, Jordi Galí explores various issues pertaining to monetary policy's design, including optimal monetary policy and the desirability of simple policy rules. He analyzes several extensions of the baseline model, allowing for cost-push shocks, nominal wage rigidities, and open economy factors. In each case, the effects on monetary policy are addressed, with emphasis on the desirability of inflation-targeting policies. New material includes the zero lower bound on nominal interest rates and an analysis of unemployment’s significance for monetary policy.The most up-to-date introduction to the New Keynesian framework availableA single benchmark model used throughoutNew materials and exercises includedAn ideal resource for graduate students, researchers, and market analystsSøren Kierkegaard: A Biography
Par Joakim Garff. 2005
"The day will come when not only my writings, but precisely my life--the intriguing secret of all the machinery--will be…
studied and studied." Søren Kierkegaard's remarkable combination of genius and peculiarity made this a fair if arrogant prediction. But Kierkegaard's life has been notoriously hard to study, so complex was the web of fact and fiction in his work. Joakim Garff's biography of Kierkegaard is thus a landmark achievement. A seamless blend of history, philosophy, and psychological insight, all conveyed with novelistic verve, this is the most comprehensive and penetrating account yet written of the life and works of the enigmatic Dane who changed the course of intellectual history. Garff portrays Kierkegaard not as the all-controlling impresario behind some of the most important works of modern philosophy and religious thought--books credited with founding existentialism and prefiguring postmodernism--but rather as a man whose writings came to control him. Kierkegaard saw himself as a vessel for his writings, a tool in the hand of God, and eventually as a martyr singled out to call for the end of "Christendom." Garff explores the events and relationships that formed Kierkegaard, including his guilt-ridden relationship with his father, his rivalry with his brother, and his famously tortured relationship with his fiancée Regine Olsen. He recreates the squalor and splendor of Golden Age Copenhagen and the intellectual milieu in which Kierkegaard found himself increasingly embattled and mercilessly caricatured. Acclaimed as a major cultural event on its publication in Denmark in 2000, this book, here presented in an exceptionally crisp and elegant translation, will be the definitive account of Kierkegaard's life for years to come.Tocqueville: The Aristocratic Sources of Liberty
Par Lucien Jaume. 2013
A major intellectual biography of Toqueville that restores democracy in America to its essential contextMany American readers like to regard…
Alexis de Tocqueville as an honorary American and democrat—as the young French aristocrat who came to early America and, enthralled by what he saw, proceeded to write an American book explaining democratic America to itself. Yet, as Lucien Jaume argues in this acclaimed intellectual biography, Democracy in America is best understood as a French book, written primarily for the French, and overwhelmingly concerned with France. "America," Jaume says, "was merely a pretext for studying modern society and the woes of France." For Tocqueville, in short, America was a mirror for France, a way for Tocqueville to write indirectly about his own society, to engage French thinkers and debates, and to come to terms with France's aristocratic legacy.By taking seriously the idea that Tocqueville's French context is essential for understanding Democracy in America, Jaume provides a powerful and surprising new interpretation of Tocqueville's book as well as a fresh intellectual and psychological portrait of the author. Situating Tocqueville in the context of the crisis of authority in postrevolutionary France, Jaume shows that Tocqueville was an ambivalent promoter of democracy, a man who tried to reconcile himself to the coming wave, but who was also nostalgic for the aristocratic world in which he was rooted—and who believed that it would be necessary to preserve aristocratic values in order to protect liberty under democracy. Indeed, Jaume argues that one of Tocqueville's most important and original ideas was to recognize that democracy posed the threat of a new and hidden form of despotism.Beyond the Invisible Hand: Groundwork for a New Economics
Par Kaushik Basu. 2010
Why economics needs to focus on fairness and not just efficiencyOne of the central tenets of mainstream economics is Adam…
Smith's proposition that, given certain conditions, self-interested behavior by individuals leads them to the social good, almost as if orchestrated by an invisible hand. This deep insight has, over the past two centuries, been taken out of context, contorted, and used as the cornerstone of free-market orthodoxy. In Beyond the Invisible Hand, Kaushik Basu argues that mainstream economics and its conservative popularizers have misrepresented Smith's insight and hampered our understanding of how economies function, why some economies fail and some succeed, and what the nature and role of state intervention might be. Comparing this view of the invisible hand with the vision described by Kafka—in which individuals pursuing their atomistic interests, devoid of moral compunction, end up creating a world that is mean and miserable—Basu argues for collective action and the need to shift our focus from the efficient society to one that is also fair.Using analytic tools from mainstream economics, the book challenges some of the precepts and propositions of mainstream economics. It maintains that, by ignoring the role of culture and custom, traditional economics promotes the view that the current system is the only viable one, thereby serving the interests of those who do well by this system. Beyond the Invisible Hand challenges readers to fundamentally rethink the assumptions underlying modern economic thought and proves that a more equitable society is both possible and sustainable, and hence worth striving for.By scrutinizing Adam Smith's theory, this impassioned critique of contemporary mainstream economics debunks traditional beliefs regarding best economic practices, self-interest, and the social good.A Cooperative Species: Human Reciprocity and Its Evolution
Par Samuel Bowles, Herbert Gintis. 2011
A fascinating look at the evolutionary origins of cooperationWhy do humans, uniquely among animals, cooperate in large numbers to advance…
projects for the common good? Contrary to the conventional wisdom in biology and economics, this generous and civic-minded behavior is widespread and cannot be explained simply by far-sighted self-interest or a desire to help close genealogical kin.In A Cooperative Species, Samuel Bowles and Herbert Gintis—pioneers in the new experimental and evolutionary science of human behavior—show that the central issue is not why selfish people act generously, but instead how genetic and cultural evolution has produced a species in which substantial numbers make sacrifices to uphold ethical norms and to help even total strangers.The authors describe how, for thousands of generations, cooperation with fellow group members has been essential to survival. Groups that created institutions to protect the civic-minded from exploitation by the selfish flourished and prevailed in conflicts with less cooperative groups. Key to this process was the evolution of social emotions such as shame and guilt, and our capacity to internalize social norms so that acting ethically became a personal goal rather than simply a prudent way to avoid punishment.Using experimental, archaeological, genetic, and ethnographic data to calibrate models of the coevolution of genes and culture as well as prehistoric warfare and other forms of group competition, A Cooperative Species provides a compelling and novel account of how humans came to be moral and cooperative.Awakening Giants, Feet of Clay: Assessing the Economic Rise of China and India
Par Pranab Bardhan. 2013
A comparative look at the astonishing economic rise of modern China and IndiaThe recent economic rise of China and India…
has attracted a great deal of attention—and justifiably so. Together, the two countries account for one-fifth of the global economy and are projected to represent a full third of the world's income by 2025. Yet, many of the views regarding China and India's market reforms and high growth have been tendentious, exaggerated, or oversimplified. Awakening Giants, Feet of Clay scrutinizes the phenomenal rise of both nations, and demolishes the myths that have accumulated around the economic achievements of these two giants in the last quarter century. Exploring the challenges that both countries must overcome to become true leaders in the international economy, Pranab Bardhan looks beyond short-run macroeconomic issues to examine and compare China and India's major policy changes, political and economic structures, and current general performance.Bardhan investigates the two countries' economic reforms, each nation's pattern and composition of growth, and the problems afflicting their agricultural, industrial, infrastructural, and financial sectors. He considers how these factors affect China and India's poverty, inequality, and environment, how political factors shape each country's pattern of burgeoning capitalism, and how significant poverty reduction in both countries is mainly due to domestic factors—not global integration, as most would believe. He shows how authoritarianism has distorted Chinese development while democratic governance in India has been marred by severe accountability failures.Full of valuable insights, Awakening Giants, Feet of Clay provides a nuanced picture of China and India's complex political economy at a time of startling global reconfiguration and change.Rational Expectations and Inflation: Third Edition
Par Thomas J. Sargent. 2013
A fully expanded edition of the Nobel Prize–winning economist's classic bookThis collection of essays uses the lens of rational expectations…
theory to examine how governments anticipate and plan for inflation, and provides insight into the pioneering research for which Thomas Sargent was awarded the 2011 Nobel Prize in economics. Rational expectations theory is based on the simple premise that people will use all the information available to them in making economic decisions, yet applying the theory to macroeconomics and econometrics is technically demanding. Here, Sargent engages with practical problems in economics in a less formal, noneconometric way, demonstrating how rational expectations can satisfactorily interpret a range of historical and contemporary events. He focuses on periods of actual or threatened depreciation in the value of a nation's currency. Drawing on historical attempts to counter inflation, from the French Revolution and the aftermath of World War I to the economic policies of Margaret Thatcher and Ronald Reagan, Sargent finds that there is no purely monetary cure for inflation; rather, monetary and fiscal policies must be coordinated.This fully expanded edition of Rational Expectations and Inflation includes Sargent's 2011 Nobel lecture, "United States Then, Europe Now." It also features new articles on the macroeconomics of the French Revolution and government budget deficits.All the News That's Fit to Sell: How the Market Transforms Information into News
Par James T. Hamilton. 2003
That market forces drive the news is not news. Whether a story appears in print, on television, or on the…
Internet depends on who is interested, its value to advertisers, the costs of assembling the details, and competitors' products. But in All the News That's Fit to Sell, economist James Hamilton shows just how this happens. Furthermore, many complaints about journalism--media bias, soft news, and pundits as celebrities--arise from the impact of this economic logic on news judgments. This is the first book to develop an economic theory of news, analyze evidence across a wide range of media markets on how incentives affect news content, and offer policy conclusions. Media bias, for instance, was long a staple of the news. Hamilton's analysis of newspapers from 1870 to 1900 reveals how nonpartisan reporting became the norm. A hundred years later, some partisan elements reemerged as, for example, evening news broadcasts tried to retain young female viewers with stories aimed at their (Democratic) political interests. Examination of story selection on the network evening news programs from 1969 to 1998 shows how cable competition, deregulation, and ownership changes encouraged a shift from hard news about politics toward more soft news about entertainers. Hamilton concludes by calling for lower costs of access to government information, a greater role for nonprofits in funding journalism, the development of norms that stress hard news reporting, and the defining of digital and Internet property rights to encourage the flow of news. Ultimately, this book shows that by more fully understanding the economics behind the news, we will be better positioned to ensure that the news serves the public good.Sovereign Wealth Funds: Legitimacy, Governance, and Global Power
Par Gordon L. Clark, Adam D. Dixon, Ashby H.B. Monk. 2013
The worldwide rise of sovereign wealth funds is emblematic of the ongoing transformation of nation-state economic prospects. Sovereign Wealth Funds…
maps the global footprints of these financial institutions, examining their governance and investment management, and issues of domestic and international legitimacy. Through a variety of case studies--from the China Investment Corporation to the funds of several Gulf states--the authors show that the forces propelling the adoption and development of sovereign wealth funds vary by country. The authors also show that many of these investment institutions have identifiable commonalities of form and function that match the core institutions of Western financial markets. The authors suggest that the international legitimacy of sovereign wealth funds is based on the degree to which their design and governance match Western expectations about investment management. Undercutting commonplace assumptions about the emerging world of the twenty-first century, the authors demonstrate that even small countries with large and globally oriented sovereign wealth funds are likely to play a significant role in international relations. Sovereign Wealth Funds considers how such financial organizations have altered not only the face of finance, but also the international geopolitical landscape.Mass Flourishing: How Grassroots Innovation Created Jobs, Challenge, and Change
Par Edmund S. Phelps. 2013
In this book, Nobel Prize-winning economist Edmund Phelps draws on a lifetime of thinking to make a sweeping new argument…
about what makes nations prosper--and why the sources of that prosperity are under threat today. Why did prosperity explode in some nations between the 1820s and 1960s, creating not just unprecedented material wealth but "flourishing"--meaningful work, self-expression, and personal growth for more people than ever before? Phelps makes the case that the wellspring of this flourishing was modern values such as the desire to create, explore, and meet challenges. These values fueled the grassroots dynamism that was necessary for widespread, indigenous innovation. Most innovation wasn't driven by a few isolated visionaries like Henry Ford and Steve Jobs; rather, it was driven by millions of people empowered to think of, develop, and market innumerable new products and processes, and improvements to existing ones. Mass flourishing--a combination of material well-being and the "good life" in a broader sense--was created by this mass innovation. Yet indigenous innovation and flourishing weakened decades ago. In America, evidence indicates that innovation and job satisfaction have decreased since the late 1960s, while postwar Europe has never recaptured its former dynamism. The reason, Phelps argues, is that the modern values underlying the modern economy are under threat by a resurgence of traditional, corporatist values that put the community and state over the individual. The ultimate fate of modern values is now the most pressing question for the West: will Western nations recommit themselves to modernity, grassroots dynamism, indigenous innovation, and widespread personal fulfillment, or will we go on with a narrowed innovation that limits flourishing to a few? A book of immense practical and intellectual importance, Mass Flourishing is essential reading for anyone who cares about the sources of prosperity and the future of the West.Finding Oneself in the Other
Par G. A. Cohen. 2013
This is the second of three volumes of posthumously collected writings of G. A. Cohen, who was one of the…
leading, and most progressive, figures in contemporary political philosophy. This volume brings together some of Cohen's most personal philosophical and nonphilosophical essays, many of them previously unpublished. Rich in first-person narration, insight, and humor, these pieces vividly demonstrate why Thomas Nagel described Cohen as a "wonderful raconteur.? The nonphilosophical highlight of the book is Cohen's remarkable account of his first trip to India, which includes unforgettable vignettes of encounters with strangers and reflections on poverty and begging. Other biographical pieces include his valedictory lecture at Oxford, in which he describes his philosophical development and offers his impressions of other philosophers, and "Isaiah's Marx, and Mine," a tribute to his mentor Isaiah Berlin. Other essays address such topics as the truth in "small-c conservatism," who can and can't condemn terrorists, and the essence of bullshit. A recurring theme is finding completion in relation to the world of other human beings. Engaging, perceptive, and empathetic, these writings reveal a more personal side of one of the most influential philosophers of our time.Currency Politics: The Political Economy of Exchange Rate Policy
Par Jeffry A. Frieden. 2014
The politics surrounding exchange rate policies in the global economyThe exchange rate is the most important price in any economy,…
since it affects all other prices. Exchange rates are set, either directly or indirectly, by government policy. Exchange rates are also central to the global economy, for they profoundly influence all international economic activity. Despite the critical role of exchange rate policy, there are few definitive explanations of why governments choose the currency policies they do. Filled with in-depth cases and examples, Currency Politics presents a comprehensive analysis of the politics surrounding exchange rates.Identifying the motivations for currency policy preferences on the part of industries seeking to influence politicians, Jeffry Frieden shows how each industry's characteristics—including its exposure to currency risk and the price effects of exchange rate movements—determine those preferences. Frieden evaluates the accuracy of his theoretical arguments in a variety of historical and geographical settings: he looks at the politics of the gold standard, particularly in the United States, and he examines the political economy of European monetary integration. He also analyzes the politics of Latin American currency policy over the past forty years, and focuses on the daunting currency crises that have frequently debilitated Latin American nations, including Mexico, Argentina, and Brazil.With an ambitious mix of narrative and statistical investigation, Currency Politics clarifies the political and economic determinants of exchange rate policies.