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Great Nations at Peril

  • Book
  • © 2015

Overview

Editors:
  1. Jürgen Backhaus

    1. University of Erfurt, Erfurt, Germany

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  • Analyzes the current global financial crisis through an historical lens
  • Provides a comparison between the United States and other ‘great nations’ that have faced severe economic hardship throughout history
  • Draws on great works of economic thought to inform current economic and monetary policy
  • Includes supplementary material: sn.pub/extras

Part of the book series: The European Heritage in Economics and the Social Sciences (EHES, volume 17)

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Table of contents (8 chapters)

  1. Front Matter

    Pages i-vii
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  2. Troubling Thoughts in Troubled Times

    • Jürgen G. Backhaus
    Pages 1-4

  3. Troubles on Statistical Lies

    • Gerhard Scheuerer
    Pages 5-19

  4. Great Nations in Peril—Rise and Fall of Prussia

    • Hans A. Frambach
    Pages 21-35

  5. Friedrich List’s “Great Nations”: Mobilising Capital for Quality Labour

    • Arno Mong Daastøl
    Pages 37-75

  6. Austerity Versus Productive Investment: Two Traditions in Capital Formation and Growth

    • Arno Mong Daastøl
    Pages 77-118

  7. Why Greece Should be Bailed Out

    • Jüergen G. Backhaus
    Pages 119-122

  8. Agricultural Subsidies in the USA—History, Implications, and Critiques

    • Kathleen Leary
    Pages 123-131

  9. Jacob Bielfeld’s “On the Decline of States” (1760) and Its Relevance for Today

    • Erik S. Reinert
    Pages 133-172
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About this book

This book was prompted by the current, lingering financial crisis, which has its basis in the disorderly financial practices of the United States. These practices have resulted in an accumulated debt which now requires the United States to run financial policies at artificially low interest rates. In principle, these low interest rates should flood the markets with ready money. Since the spread for banks is very thin, however, and they must carefully discriminate between available risks and finance only those propositions with no risk, credit is not abundantly available. With staggering foreign debt and a myriad of other perils looming, this great nation is at peril for sure. In the tradition of the Heilbronn Symposium, the authors look at historical cases as a means of understanding the current situation and informing possible solutions to a problem that continues to affect the global economy. The volume analyzes cases such as Prussia, Greece, Italy, Estonia, and the European Union. This book will be of interest to scholars and students of economic history as well as policy makers who may benefit from an historical understanding of the economic challenges their countries currently face.

Editors and Affiliations

  • University of Erfurt, Erfurt, Germany

    Jürgen Backhaus

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