Global Finance at Risk: The Case for International Regulation
John Eatwell, Lance TaylorISBN: 1565846389;
Now in paperback, a "timely" ( Library Journal ) argument for an international body that will foster a more stable, viable global financial system. In Global Finance at Risk , now available in paperback, two economists whom John Kenneth Galbraith has hailed as "accomplished scholars of the first rank" propose a bold solution to the financial crises that threaten us all: a World Financial Authority with powers to establish worldwide best-practice financial regulation and risk management. Expansion of finance in industrialized economies, including that of the nineteenth-century United States, was accompanied by the same kind of turbulence now afflicting Asia, Russia, and Latin America. Then, the solution was to establish national banking and securities regulators, create deposit insurance, and empower lenders of last resort. But in our increasingly globalized times, an account opened at a local bank can be based on bad debt from anywhere in the world, including places outside...
- OZON.ru 1995