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dc.contributor.authorHaberly, Daniel
dc.contributor.authorWójcik, Dariusz
dc.date.accessioned2022-09-12T09:01:11Z
dc.date.available2022-09-12T09:01:11Z
dc.date.issued2022
dc.identifier.urihttps://library.oapen.org/handle/20.500.12657/58182
dc.description.abstractModern civilization revolves around money. However, money is a paradox. It is nothing more than a representation of and medium for decentralized networks of social trust, but its production is controlled by highly centralized networks of firms, places, and governments, and there is never enough of it to go around. Moreover, given that the creation of money, as credit, is based on expectations, money is at its heart an instrument for human agency to change the future. At the same time, however, the financial systems that produce money are deeply rooted in the past, and perpetuate themselves through history. This book seeks to deepen our understanding of the paradox of money, by introducing a novel conceptual lens—that of Global Financial Networks—to cast new light on the geography, history, politics, and sociology of finance from the middle ages to the global financial crisis and beyond. It shows that the power of finance is inherently “sticky”; with what are generally assumed to be new innovations such as “offshore” finance actually dating back centuries, and the architecture of global financial networks more broadly adapting to the rise and fall of empires and new technologies while changing surprisingly little in their basic character; or at most changing very slowly. A recognition of the mechanics of this durability, it is argued, calls for a new approach to reforming finance which is less reactively focused on regulation, and more proactively focused on building new institutional systems with a long-term “sticky power” of their own.en_US
dc.languageEnglishen_US
dc.subject.classificationthema EDItEUR::K Economics, Finance, Business and Management::KF Finance and accounting::KFF Finance and the finance industryen_US
dc.subject.classificationthema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCL International economicsen_US
dc.subject.classificationthema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCZ Economic historyen_US
dc.subject.otherFinancial geography, economic geography, economic history, international political economy, global financial networks, financial centers, financial and business services, offshore jurisdictions, financial innovation, financial institutionsen_US
dc.titleSticky Poweren_US
dc.title.alternativeGlobal Financial Networks in the World Economyen_US
dc.typebook
oapen.identifier.doi10.1093/oso/9780198870982.001.0001en_US
oapen.relation.isPublishedByb9501915-cdee-4f2a-8030-9c0b187854b2en_US
oapen.pages400en_US
oapen.place.publicationOxforden_US


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