The American Empire and the Political Economy of Global Finance
The book is a marvelous piece of work that demonstrates the economy of America. In few years of recession the economy and financial state of America has suffered great loss. Not only the America but consequences of recession were visible in the economies of all the countries of the world. Anyhow, America’s economy has direct influence on the economy of the world so when it will be damaged then it will create a wave of disturbance in the entire world. The shocking layers of recession were high in the year 2009-10 but now it is coming down because bailout packages that were introduced by the governments of different countries including America to support the economy.
Palgrave MacMillan is the author of “The American Empire and the Political Economy of Global Finance”. He has dual experience of economy and finance in relation with different factors such as politics of the America and role of military in the American state. According to the author the economy and finance is facing troubling condition due to extraordinary expenses on war on terrorism. However, he doesn’t believe that terrorism is the only factor responsible to alter the economic situation of the America.
Markets should be neutral in globalization process:
Palgrave suggests that the condition of the markets should not be changes because of globalization process.” No doubt, economical and financial globalization is important but there are some important considerations that should be in the mind while stepping forward in this area” said by Palgrave. There are tow different opinions about the financial and economical globalizations that are well discussed in this the book “The American Empire and the Political Economy of Global Finance”. Some experts believe that sudden changes in this field is causing decrease of power of nation while some experts say that globalization in economics and finance is a neutral process. The book “The American Empire and the Political Economy of Global Finance” also tells the people what are the sources of majestic nature of US capitalism because this topic is important to understand the economy and financial backgrounds and current scenario of United States of America.