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- DescriptionInternational institutions, from the International Monetary Fund to the International Olympic Committee, are perceived as bastions of sclerotic mediocrity at best and outright corruption at worst, and this perception is generally t far off the mark. In the wake of the 2008 financial crash, Daniel W. Drezner, like so many others, looked at the smoking ruins of the global ecomy and wondered why global ecomic governance structure had failed so spectacularly, and what could be done to reform them in the future. But then a funny thing happened. As he surveyed their actions in the wake of the crash, he realized that the evidence pointed to the exact opposite conclusion: global ecomic governance had succeeded. In The System Worked, Drezner, a rewned political scientist and international relations expert, contends that despite the massive scale and reverberations of this latest crisis (larger, arguably, than those that precipitated the Great Depression), the global ecomy has bounced back remarkably well. Examining the major resuscitation efforts by the G-20 IMF, WTO, and other institutions, he shows that, thanks to the efforts of central bankers and other policymakers, the international response was sufficiently coordinated to prevent the crisis from becoming a full-fledged depression. Yet the narrative about the failure of multilateral ecomic institutions persists, both because the Great Recession affected powerful nations whose governments managed their own ecomies poorly, and because the most influential policy analysts who write the books and articles on the crisis hail from those nations. Nevertheless, Drezner argues, while it's true that the global ecomy is still fragile, these institutions survived the stress test of the financial crisis, and may have even become more resilient and valuable in the process. Bucking the conventional wisdom about the new G-Zero World, Drezner rehabilitates the image of the much-maligned international institutions and demolishes some of the most dangerous myths about the financial crisis. The System Worked is a vital contribution to our understanding of an area where the stakes could t be higher.
- Author BiographyDaniel W. Drezner is professor of International Politics at the Fletcher School of Law and Diplomacy at Tufts University, a nonresident senior fellow at the Brookings Institution. He has previously held positions with Civic Education Project, the RAND Corporation, and the U.S. Department of the Treasury. He is the author of four previous books, most recently Theories of International Politics and Zombies.
- Author(s)Daniel W. Drezner
- PublisherOxford University Press
- Date of Publication25/02/2016
- SubjectEconomics: Textbooks & Study Guides
- Place of PublicationOxford
- Country of PublicationUnited Kingdom
- ImprintOxford University Press
- Content Noteblack & white illustrations
- Weight376 g
- Width166 mm
- Height234 mm
- Spine18 mm
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