EuroTragedy : A Drama in Nine Acts Hardcover Ashoka Mody

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Book Title
EuroTragedy : A Drama in Nine Acts Hardcover Ashoka Mody
ISBN
9780199351381
Kategorie

Über dieses Produkt

Product Identifiers

Publisher
Oxford University Press, Incorporated
ISBN-10
0199351384
ISBN-13
9780199351381
eBay Product ID (ePID)
240013036

Product Key Features

Number of Pages
816 Pages
Publication Name
Eurotragedy : a Drama in Nine Acts
Language
English
Subject
International / Economics, Economic Conditions, Public Policy / Economic Policy
Publication Year
2018
Type
Textbook
Subject Area
Political Science, Business & Economics
Author
Ashoka Mody
Format
Hardcover

Dimensions

Item Height
1.7 in
Item Weight
38.8 Oz
Item Length
9.4 in
Item Width
6.4 in

Additional Product Features

Intended Audience
Scholarly & Professional
LCCN
2017-046690
Reviews
"EuroTragedy tells one of the greatest, and most consequential, stories of our time: Europe's attempt to build a political union around a currency. Written with deep scholarship and the wisdom of an experienced policymaker, this landmark book is also a gripping read. Shakespeare would have loved it."-George Akerlof, Nobel Laureate in Economics, 2001 "Ashoka Mody has written a magnificent book on the euro, a story that he rightly describes as a tragedy. As he documents, from the very start there were Cassandras predicting a disaster to come, and at every step of the way, they were dismissed by European leaders, hiding behind political slogans and indulging in shoddy economic thinking. As I read this powerful book, I was reminded of Winston Churchill's famous remark as he reflected on the string of disastrous military decisions that led to the First World War: 'The terrible ifs accumulate.'" -Liaquat Ahamed, Pulitzer Prize-winning author of Lords of Finance "A magisterial overview of Europe's remarkable single currency experiment. Written in a style accessible to a wide readership, it is a must-read for researchers and policymakers. This brilliant new book would also be perfect as a main text for a university course on the euro and European integration." -Kenneth Rogoff, Harvard University; co-author of This Time is Different "One does not have to share Ashoka Mody's view that the German government should admit guilt for the Euro crisis to recognize that this book is fascinating reading, full of insight into the history of the euro and its ultimate failure. Written by a leading scholar and former senior IMF official, there is much to be learnt from this extremely well-written and important work. We need books like this to enter a frank and open debate." -Hans-Werner Sinn, author of The Euro Trap "Mody develops a dramatic historical narrative of how European leaders brushed aside the warnings of many economists and went ahead with the euro, not knowing where this would lead them. Instead of creating unity, the euro has contributed to Euroscepticism and intensified division in Europe. Mody identifies the reason: the Eurozone is an incomplete monetary union that leads to divergence and instability. This 'contrarian' book will not be popular in Brussels, but all the more so elsewhere." -Paul De Grauwe, John Paulson Chair in European Political Economy, London School of Economics "Written by the former chief representative of the International Monetary Fund to Ireland who was also the deputy director of the Fund's European Department, EuroTragedy provides a detailed yet highly readable first-hand account of the Eurozone crisis."- EuropeNow, "EuroTragedy tells one of the greatest, and most consequential, stories of our time: Europe's attempt to build a political union around a currency. Written with deep scholarship and the wisdom of an experienced policymaker, this landmark book is also a gripping read. Shakespeare would have loved it."-George Akerlof, Nobel Laureate in Economics, 2001 "Ashoka Mody has written a magnificent book on the euro, a story that he rightly describes as a tragedy. As he documents, from the very start there were Cassandras predicting a disaster to come, and at every step of the way, they were dismissed by European leaders, hiding behind political slogans and indulging in shoddy economic thinking. As I read this powerful book, I was reminded of Winston Churchill's famous remark as he reflected on the string of disastrous military decisions that led to the First World War: 'The terrible ifs accumulate.'" -Liaquat Ahamed, Pulitzer Prize-winning author of Lords of Finance "A magisterial overview of Europe's remarkable single currency experiment. Written in a style accessible to a wide readership, it is a must-read for researchers and policymakers. This brilliant new book would also be perfect as a main text for a university course on the euro and European integration." -Kenneth Rogoff, Harvard University; co-author of This Time is Different "One does not have to share Ashoka Mody's view that the German government should admit guilt for the Euro crisis to recognize that this book is fascinating reading, full of insight into the history of the euro and its ultimate failure. Written by a leading scholar and former senior IMF official, there is much to be learnt from this extremely well-written and important work. We need books like this to enter a frank and open debate." -Hans-Werner Sinn, author of The Euro Trap "Mody develops a dramatic historical narrative of how European leaders brushed aside the warnings of many economists and went ahead with the euro, not knowing where this would lead them. Instead of creating unity, the euro has contributed to Euroscepticism and intensified division in Europe. Mody identifies the reason: the Eurozone is an incomplete monetary union that leads to divergence and instability. This 'contrarian' book will not be popular in Brussels, but all the more so elsewhere." -Paul De Grauwe, John Paulson Chair in European Political Economy, London School of Economics, "Mody (Woodrow Wilson School, Princeton Univ.) has written a page-turning work that combines deep political and economic analysis with fluent prose...This book provides an excellent historical thread for understanding the current crisis in the EU, and specifically in the eurozone....Summing Up: Highly Recommended." -- CHOICE "EuroTragedy tells one of the greatest, and most consequential, stories of our time: Europe's attempt to build a political union around a currency. Written with deep scholarship and the wisdom of an experienced policymaker, this landmark book is also a gripping read. Shakespeare would have loved it."-George Akerlof, Nobel Laureate in Economics, 2001 "Ashoka Mody has written a magnificent book on the euro, a story that he rightly describes as a tragedy. As he documents, from the very start there were Cassandras predicting a disaster to come, and at every step of the way, they were dismissed by European leaders, hiding behind political slogans and indulging in shoddy economic thinking. As I read this powerful book, I was reminded of Winston Churchill's famous remark as he reflected on the string of disastrous military decisions that led to the First World War: 'The terrible ifs accumulate.'" -Liaquat Ahamed, Pulitzer Prize-winning author of Lords of Finance "A magisterial overview of Europe's remarkable single currency experiment. Written in a style accessible to a wide readership, it is a must-read for researchers and policymakers. This brilliant new book would also be perfect as a main text for a university course on the euro and European integration." -Kenneth Rogoff, Harvard University; co-author of This Time is Different "One does not have to share Ashoka Mody's view that the German government should admit guilt for the Euro crisis to recognize that this book is fascinating reading, full of insight into the history of the euro and its ultimate failure. Written by a leading scholar and former senior IMF official, there is much to be learnt from this extremely well-written and important work. We need books like this to enter a frank and open debate." -Hans-Werner Sinn, author of The Euro Trap "Mody develops a dramatic historical narrative of how European leaders brushed aside the warnings of many economists and went ahead with the euro, not knowing where this would lead them. Instead of creating unity, the euro has contributed to Euroscepticism and intensified division in Europe. Mody identifies the reason: the Eurozone is an incomplete monetary union that leads to divergence and instability. This 'contrarian' book will not be popular in Brussels, but all the more so elsewhere." -Paul De Grauwe, John Paulson Chair in European Political Economy, London School of Economics "Written by the former chief representative of the International Monetary Fund to Ireland who was also the deputy director of the Fund's European Department, EuroTragedy provides a detailed yet highly readable first-hand account of the Eurozone crisis."- EuropeNow, EuroTragedy tells one of the greatest, and most consequential, stories of our time: Europe's attempt to build a political union around a currency. Written with deep scholarship and the wisdom of an experienced policymaker, this landmark book is also a gripping read. Shakespeare would have loved it.
Dewey Edition
23
Illustrated
Yes
Dewey Decimal
337.14209
Table Of Content
List of FiguresAcknowledgments List of AbbreviationsIntroduction: Europe Ends Up Someplace ElseChapter 1: Three Leaps in the Dark, 1950-1982Chapter 2: Kohl's Euro, 1982-1998Chapter 3: Schröder Asserts the German National Interest, 1999-2003Chapter 4: Irrational Exuberance, 2004-2007Chapter 5: After the Bust, the Denial, 2007-2009Chapter 6: Delays and Half-Measures: Greece and Ireland, 2010Chapter 7: Policy Wounds Leave Behind Scar Tissue, 2011-2013Chapter 8: The ECB Hesitates, the Italian Fault Line Deepens, 2014-2017Chapter 9: The Final Act: A Declining and Divided EuropeScenarios: The Future Ain't What It Used to BeEpilogueMain Characters in the Euro DramaTimeline of Key Events: How it UnfoldedNotes References Index
Synopsis
Blending economic analysis with political drama, EuroTragedy -chosen by both Foreign Affairs and The Financial Times as one of the best books of 2018-is a groundbreaking account of the euro's history and tragic consequences. In this vivid and compelling chronicle, Ashoka Mody describes how the euro improbably emerged through a narrow historical window as a flawed compromise wrapped in a false pro-European rhetoric of peace and unity. Drawing on his frontline experience as an official with the IMF, Mody situates the tragedy in a fast-paced global context and guides the reader through the forced-and unforced-errors Eurozone authorities committed during their long financial crisis. The decision to switch from national currencies to the euro unfolded as both economic and political tragedy. It weakened the growth potential of member states, which made financially vulnerable Europeans more anxious. It deepened perceptions of unfairness and widened the division between nations. Now, the burden falls on younger Europeans, a generation with a discouragingly bleak future. A compassionate view of European possibilities, EuroTragedy makes clear that the euro's structural flaws will continue to haunt the continent. Instead of centralizing authority to prop up an ossified pro-Europeanist model, it is time to loosen ties that bind too tightly so that a liberal order can once more flourish. Now updated to cover the most momentous events since original publication, this will remain the authoritative book on the crisis., The promise of the European pursuit of ever closer union created tremendous optimism that conflict was the past and harmony would be the future. The enthusiasm for economic integration and monetary union, through the Euro, enhanced the confidence that differences among countries could be overcome. In this dynamic and incisive overview of the European project from its beginnings, Ashoka Mody convincingly demonstrates that the tensions and flaws of the European project were both baked-in and foreseen from the beginning. He focuses on personalities whose ambitious and relentless push for integration led them to choose facts and analysis consistent with their visions and to dismiss warnings of turbulence. They thus laid the seeds for disappointment. Mody examines key moments when contradictions were papered-over, compromising the integrity of integration. And throughout he shows how political and economic leaders believed the stories they told themselves about the inevitability of a united Europe as a foundation of peace, prosperity, and democratic ideals, even in the face of warnings from the earliest stages that while the political pillars seemed strong, the economic foundations were weak. Mody compellingly shows how monetary union impaired European integration rather than enhancing it. European countries have always has vastly different economic conditions, and the common currency increased divergences rather than smoothing them, as many analysts warned at the time. The economic, financial, and political pathologies of the euro were there from the beginning, even if the global economic boom hid them. With political and economic elites benefitting, they could ignore the growing the discontent of those who suffered and the growing antipathy to the European project in national heartlands. When crisis inevitably hit, leaders denied, delayed, and took half-measures that only further alienated people. And if once the inability to deliver on the economic promise caused the political handicaps to worsen, now the political splintering is making it harder to mount an economic response., EuroTragedy is an incisive exploration of the tragedy of how the European push for integration was based on illusions and delusions pursued in the face of warnings that the pursuit of unity was based on weak foundations., The promise of the European pursuit of ever closer union created tremendous optimism that conflict was the past and harmony would be the future. The enthusiasm for economic integration and monetary union, through the Euro, enhanced the confidence that differences among countries could be overcome. In this dynamic and incisive overview of the European project from its beginnings, Ashoka Mody convincingly demonstrates that the tensions and flaws of the European project were both baked-in and foreseen from the beginning. He focuses on personalities whose ambitious and relentless push for integration led them to choose facts and analysis consistent with their visions and to dismiss warnings of turbulence. They thus laid the seeds for disappointment. Mody examines key moments when contradictions were papered-over, compromising the integrity of integration. He shows how political and economic leaders believed the stories they told themselves about the inevitability of a united Europe as a foundation of peace, prosperity, and democratic ideals, even in the face of warnings from the earliest stages that while the political pillars seemed strong, the economic foundations were weak. Mody compellingly shows how monetary union impaired European integration rather than enhanced it. European countries have always had vastly different economic conditions, and the common currency increased divergences rather than smoothing them, as many analysts warned at the time. The economic, financial, and political pathologies of the euro were there from the beginning, even if the global economic boom hid them. With political and economic elites benefitting, they could ignore the growing discontent of those who suffered and the antipathy to the European project in national heartlands. When crisis inevitably hit, leaders denied, delayed, and took half-measures that only further alienated people. If once the inability to deliver on the economic promise caused the political handicaps to worsen, now the political splintering is making it harder to mount an effective response.
LC Classification Number
HC240.M694 2018

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