From Malaise to Meltdown: The International Origins of Financial Folly, 1844-

The book "From Malaise to Meltdown" explores the evolution of the global political economy, highlighting how power diffuses from leading economies to others, leading to intense competition for global financial leadership. Declining leaders and aspiring challengers roll back regulatory safeguards, risking global financial stability and causing severe crises. The book presents a historical narrative about the coevolution of power, ideas, and domestic politics, supported by archival research into risky decisions that led to the worst financial crises.

\n Format: Hardback
\n Length: 264 pages
\n Publication date: 21 December 2020
\n Publisher: University of Toronto Press
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For the past two centuries, the great power that has sat atop the international global financial system has reaped enormous rewards. As the saying goes, however, all good things come to an end. Providing insights into the evolution of the global political economy, From Malaise to Meltdown identifies the primary instigators behind the global financial crises we have witnessed in the last two hundred years. Michael Lee demonstrates that, over time, power diffuses from the leading economy to others, creating an intensely competitive push for global financial leadership. Hunger for the benefits of global leadership drives declining leaders and aspiring challengers alike to roll back long-standing regulatory safeguards in an effort to spark growth. As Lee deftly shows, the Long Depression of 1873–1896, the Great Depression of 1929–1939, and the financial crisis of 2008 are part of the same recurring pattern: global competition disrupts the long-standing political equilibria, prompting a search for new, risky ideas among the most powerful states. From Malaise to Meltdown presents a sweeping but accessible historical narrative about the coevolution of power, ideas, and domestic politics, supported by archival research into the risky decisions that ushered in the worst financial crises in history.

\n Weight: 566g\n
Dimension: 162 x 238 x 26 (mm)\n
ISBN-13: 9781487506896\n \n