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Hidden Hand of American Hegemony : Petrodollar Recycling and International Markets by David E. Spiro (1999, Hardcover)

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Product Identifiers

PublisherCornell University Press
ISBN-10080142884X
ISBN-139780801428845
eBay Product ID (ePID)6038806906

Product Key Features

Book TitleHidden Hand of American Hegemony : Petrodollar Recycling and International Markets
Number of Pages200 Pages
LanguageEnglish
Publication Year1999
TopicInternational / Economics, International Relations / General, Commerce, Public Policy / Economic Policy, Petroleum, Middle East / General, Investments & Securities / General
IllustratorYes
GenrePolitical Science, Technology & Engineering, Business & Economics, History
AuthorDavid E. Spiro
Book SeriesCornell Studies in Political Economy Ser.
FormatHardcover

Dimensions

Item Height0.6 in
Item Weight32.1 Oz
Item Length9.5 in
Item Width6.5 in

Additional Product Features

Intended AudienceTrade
LCCN99-022900
Dewey Edition21
Reviews"With this book, David Spiro delivers a knockout punch to those who assert that the recycling of petrodollars was market driven. Instead, he demonstrates the essential role of American power in that process and, by extension, in the operation and design of the international financial system. All future discussions of 'globalization' will have to take account of Spiro's work."--Ethan B. Kapstein, Stassen Professor of International Peace, Humphrey Institute, University of Minnesota, "This study . . . makes a significant contribution to the literature of international political economy. The book also is a useful point of departure for further exploration by historians of finance, economics, and business. The data on capital flows alone constitute a valuable resource for all analysts. . . . The book is closely argued within the author's established methodological framework. It engages the reader in lively argument."--Michael R. Adamson, Business History Review, "This lively and well-written book combines the best of IR theory, careful empirical research, and muckraking."-James A. Caporaso, University of Washington, "The book provides a good panorama of the global situation after OPEC increased the price of oil in the early 1970s. No previous knowledge of the issue is required, as it is very well explained and the book is well organized. In addition it looks not only at the protagonist countries, the USA and Saudi Arabia, but also includes all the surrounding political actors, and the role they played regarding their own interests."--Gabriela Cano, Journal of Energy Literature, "Conventional wisdom has it that markets--and markets alone--recycled the huge OPEC surplus in the mid-1970s. David E. Spiro successfully refutes this argument and demonstrates that the United States played the key role in overcoming the threat to the world economy posed by OPEC. Of equal importance, Spiro's analysis also undermines the argument of those enthusiasts who believe that markets alone now rule the world."--Robert Gilpin, Princeton University, "This study . . . makes a significant contribution to the literature of international political economy. The book also is a useful point of departure for further exploration by historians of finance, economics, and business. The data on capital flows alone constitute a valuable resource for all analysts. . . . The book is closely argued within the author's established methodological framework. It engages the reader in lively argument."-Michael R. Adamson, Business History Review, "The book provides a good panorama of the global situation after OPEC increased the price of oil in the early 1970s. No previous knowledge of the issue is required, as it is very well explained and the book is well organized. In addition it looks not only at the protagonist countries, the USA and Saudi Arabia, but also includes all the surrounding political actors, and the role they played regarding their own interests."-Gabriela Cano, Journal of Energy Literature, "This lively and well-written book combines the best of IR theory, careful empirical research, and muckraking."--James A. Caporaso, University of Washington, This study... makes a significant contribution to the literature of international political economy. The book also is a useful point of departure for further exploration by historians of finance, economics, and business. The data on capital flows alone constitute a valuable resource for all analysts.... The book is closely argued within the author's established methodological framework. It engages the reader in lively argument., "With this book, David Spiro delivers a knockout punch to those who assert that the recycling of petrodollars was market driven. Instead, he demonstrates the essential role of American power in that process and, by extension, in the operation and design of the international financial system. All future discussions of 'globalization' will have to take account of Spiro's work."-Ethan B. Kapstein, Stassen Professor of International Peace, Humphrey Institute, University of Minnesota, The book provides a good panorama of the global situation after OPEC increased the price of oil in the early 1970s. No previous knowledge of the issue is required, as it is very well explained and the book is well organized. In addition it looks not only at the protagonist countries, the USA and Saudi Arabia, but also includes all the surrounding political actors, and the role they played regarding their own interests.
TitleLeadingThe
Grade FromCollege Graduate Student
Dewey Decimal381/.17/0973
Table Of ContentIntroduction. Philosophy and Information Systems. Supporting articulation work: aspects of a feminist practice of technology production (L. Suchman). Hard times: the politics of women's work in computerised environments (I. Wagner). Dichotomous thinking, women, and technology (S. Katsikides, M. Pohl). What's different in gender oriented ISD? Identifying gender oriented information systems development approach (H. Karasti). The influence of feminist theory on informatics course design (C.K.M. Crutzen). A feminist approach to the design of computer systems supporting co-operative work: the troublesome issue of co-operation seen from a women's perspective (T. Birkenes, A. Fjuk). Gender issues in computer networking (L.R. Shade). Living through the boundaries of information systems expertise - a work history of a Finnish woman systems developer (M. Vehviläinen). Everday experts? Professionals' women assistants and information technology (U. Holtgrewe). Two versions of the same: the text editor and the automatic letter writer as contrasting conceptions of digital writing (J. Hofmann). Who knows how? Who knows that? Feminist epistemology and artificial intelligence (A. Adam). To be (certain) or not to be (certain): a feminist perspective on artificial intelligence (C. Cooper, K. van Dam). Women and men in computer cartoons from Punch : 1946 to 1982 (G. Michaelson). Education and Training. Creative telematics (C. Preston). Computer games: a positive introduction to IT or a terminal turn-off? (W. Milne, J. Saini, B. Segal). A survey of attitudes to computing at the University of the Witwatersrand (I. Sanders, V. Galpin). By George, she's got IT! (M. Bell). Women defining technology for the 21st century: a report from America (A. Borg). Attitudes to computers and information technology: a case study of speech and language therapy students at Sheffield University (S.P. Whiteside). Languages and the computer: opportunities to develop IT skills (P. Ely, P. Simons). I dreamed I had a computer just like the kids : access to computing for the older woman (S. Lehman). Women-only computing in higher education (L. Stepulevage, F. Henwood, S. Plumeridge). Work, Flexibility and Restructuring. Windows on the workplace: the temporization of work (J. Greenbaum). Gender and technology at work: 15 years on (J. Webster). Developing our own mentoring skills (J. Emms). Telework: women's experiences and utilization of information technology in the home (A. Fothergill). Women in the computing workplace: some impressions (F. Grundy). Gender perspectives, office systems and organizational change (E. Green). Team leading in software development: a comparison between women and men (S. Sonnentag). Librarians and networks: breaking the boundaries that bind us (S. Fisher). CAD systems and the division of labour in knitwear design (C. Eckert, M. Stacey). Informal processes and women's careers in information technology management (G. Shapiro). Women and the information revolution: washed ashore by the third wave (K. Gunter).
SynopsisBetween 1973 and 1980, the cost of crude oil rose suddenly and dramatically, precipitating convulsions in international politics. Conventional wisdom holds that international capital markets adjusted automatically and remarkably well: enormous amounts of money flowed into oil-rich states, and efficient markets then placed that new money in cash-poor Third World economies. David Spiro has followed the money trail, and the story he tells contradicts the accepted beliefs. Most of the sudden flush of new oil wealth didn't go to poor oil-importing countries around the globe. Instead, the United States made a deal with Saudi Arabia to sell it U.S. securities in secret, a deal resulting in a substantial portion of Saudi assets being held by the U.S. government. With this arrangement, the U.S. government violated its agreements with allies in the developed world. Spiro argues that American policymakers took this action to prop up otherwise intolerable levels of U.S. public debt. In effect, recycled OPEC wealth subsidized the debt-happy policies of the U.S. government as well as the debt-happy consumption of its citizenry., Between 1973 and 1980, the cost of crude oil rose suddenly and dramatically, precipitating convulsions in international politics. Conventional wisdom holds that international capital markets adjusted automatically and remarkably well: enormous amounts..., This study... makes a significant contribution to the literature of international political economy. The book also is a useful point of departure for further exploration by historians of finance, economics, and business. The data on capital flows alone constitute a valuable resource for all analysts.... The book is closely argued within the author's established methodological framework. It engages the reader in lively argument .? Michael R. Adamson ? Business History Review Between 1973 and 1980, the cost of crude oil rose suddenly and dramatically, precipitating convulsions in international politics. Conventional wisdom holds that international capital markets adjusted automatically and remarkably well: enormous amounts of money flowed into oil-rich states, and efficient markets then placed that new money in cash-poor Third World economies. David Spiro has followed the money trail, and the story he tells contradicts the accepted beliefs. Most of the sudden flush of new oil wealth didn't go to poor oil-importing countries around the globe. Instead, the United States made a deal with Saudi Arabia to sell it U.S. securities in secret, a deal resulting in a substantial portion of Saudi assets being held by the U.S. government. With this arrangement, the U.S. government violated its agreements with allies in the developed world. Spiro argues that American policymakers took this action to prop up otherwise intolerable levels of U.S. public debt. In effect, recycled OPEC wealth subsidized the debt-happy policies of the U.S. government as well as the debt-happy consumption of its citizenry.
LC Classification NumberHG3883.A67S64 1999