Peerless and Periled: The Paradox of American Leadership in the World Economic Order

By Kati Suominen | Go to book overview

Introduction
Leadership Renewed

AMERICA’S GREAT CONTRIBUTION IN THE TWENTIETH century was to champion a set of institutions and an economic paradigm that would promote open markets and economic stability around the world. The US-led order paved the way to globalization and produced prosperity unimaginable only a few decades before. As the core of the system, the United States served as the world’s economic locomotive, fueled by its innovation economy, first-rate institutions, and global economic vitality. But as the Great Crisis of 2008–2009 unfolded from America across the world, a chorus of critics rose to declare the United States a declining nation and call an end to the American order.1

The US-built Group of Eight (G8) leading economies was indicted for ignoring the crisis warning signs and succeeding only at groupthink. The International Monetary Fund (IMF), the US-conceived guardian of global stability, was called too meek to prevent the debacle and too slow to halt it. American financial regulations, the blueprint for countless nations, stood accused of serving the regulated. The dollar’s reign was declared over as America’s deficits soared and China launched a bid for a new global currency. Confidence in independent central bankers, trusted stewards of price stability, eroded as the housing bubble was linked to years of low interest rates and the Federal Reserve’s bank bailouts burgeoned. With forecasts failing to herald the disaster, the very premises of modern macroeconomics became unhinged.

-1-

Notes for this page

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this book

This book has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this book

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this page

Cited page

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited page

Bookmark this page
Peerless and Periled: The Paradox of American Leadership in the World Economic Order
Table of contents

Table of contents

  • Title Page iii
  • Contents vii
  • Acknowledgments ix
  • Preface xi
  • Introduction - Leadership Renewed 1
  • 1 - Rebalancing the World Economy 51
  • 2 - Rescuing the Rescuer What Should a Twenty-First-Century IMF Do? 90
  • 3 - Ruling out Crises—Or Deglobalizing Finance? 131
  • 4 - Endangered Reign? Dollar’s Dilemma 178
  • 5 - Central Banking at a Crossroads 202
  • 6 - The Myth of America’s Decline 225
  • Notes and Index 247
  • Notes 249
  • Index 299
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this book

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
/ 312

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

    Already a member? Log in now.