The Hidden Hand of American Hegemony : : Petrodollar Recycling and International Markets / / David E. Spiro.
Between 1973 and 1980, the cost of crude oil rose suddenly and dramatically, precipitating convulsions in international politics. Conventional wisdom holds that international capital markets adjusted automatically and remarkably well: enormous amounts of money flowed into oil-rich states, and effici...
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Place / Publishing House: | Ithaca, NY : : Cornell University Press, , [2019] ©1999 |
Year of Publication: | 2019 |
Language: | English |
Series: | Cornell Studies in Political Economy
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Physical Description: | 1 online resource (200 p.) :; 4 tables, 10 drawings |
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Spiro, David E., author. aut http://id.loc.gov/vocabulary/relators/aut The Hidden Hand of American Hegemony : Petrodollar Recycling and International Markets / David E. Spiro. Ithaca, NY : Cornell University Press, [2019] ©1999 1 online resource (200 p.) : 4 tables, 10 drawings text txt rdacontent computer c rdamedia online resource cr rdacarrier text file PDF rda Cornell Studies in Political Economy Frontmatter -- Contents -- Preface -- 1. Explaining Petrodollar Recycling -- 2. Defining the Principles of Allocation -- 3. Making Markets Work -- 4. The Failure of International Institutions -- 5. Competing for Capital -- 6. The Interpretation of Hegemony -- Works Cited -- Index restricted access http://purl.org/coar/access_right/c_16ec online access with authorization star Between 1973 and 1980, the cost of crude oil rose suddenly and dramatically, precipitating convulsions in international politics. Conventional wisdom holds that international capital markets adjusted automatically and remarkably well: enormous amounts of money flowed into oil-rich states, and efficient markets then placed that new money in cash-poor Third World economies. David Spiro has followed the money trail, and the story he tells contradicts the accepted beliefs. Most of the sudden flush of new oil wealth didn't go to poor oil-importing countries around the globe. Instead, the United States made a deal with Saudi Arabia to sell it U.S. securities in secret, a deal resulting in a substantial portion of Saudi assets being held by the U.S. government. With this arrangement, the U.S. government violated its agreements with allies in the developed world. Spiro argues that American policymakers took this action to prop up otherwise intolerable levels of U.S. public debt. In effect, recycled OPEC wealth subsidized the debt-happy policies of the U.S. government as well as the debt-happy consumption of its citizenry. Mode of access: Internet via World Wide Web. In English. Description based on online resource; title from PDF title page (publisher's Web site, viewed 02. Mrz 2022) Balance of payments Arab countries. International finance. Investments, Arab. Petroleum products Prices. International Studies. Political Science & Political History. U.S. History. POLITICAL SCIENCE / International Relations / General. bisacsh Title is part of eBook package: De Gruyter Cornell University Press Archive Pre-2000 9783110536171 https://doi.org/10.7591/9781501711978 https://www.degruyter.com/isbn/9781501711978 Cover https://www.degruyter.com/document/cover/isbn/9781501711978/original |
language |
English |
format |
eBook |
author |
Spiro, David E., Spiro, David E., |
spellingShingle |
Spiro, David E., Spiro, David E., The Hidden Hand of American Hegemony : Petrodollar Recycling and International Markets / Cornell Studies in Political Economy Frontmatter -- Contents -- Preface -- 1. Explaining Petrodollar Recycling -- 2. Defining the Principles of Allocation -- 3. Making Markets Work -- 4. The Failure of International Institutions -- 5. Competing for Capital -- 6. The Interpretation of Hegemony -- Works Cited -- Index |
author_facet |
Spiro, David E., Spiro, David E., |
author_variant |
d e s de des d e s de des |
author_role |
VerfasserIn VerfasserIn |
author_sort |
Spiro, David E., |
title |
The Hidden Hand of American Hegemony : Petrodollar Recycling and International Markets / |
title_sub |
Petrodollar Recycling and International Markets / |
title_full |
The Hidden Hand of American Hegemony : Petrodollar Recycling and International Markets / David E. Spiro. |
title_fullStr |
The Hidden Hand of American Hegemony : Petrodollar Recycling and International Markets / David E. Spiro. |
title_full_unstemmed |
The Hidden Hand of American Hegemony : Petrodollar Recycling and International Markets / David E. Spiro. |
title_auth |
The Hidden Hand of American Hegemony : Petrodollar Recycling and International Markets / |
title_alt |
Frontmatter -- Contents -- Preface -- 1. Explaining Petrodollar Recycling -- 2. Defining the Principles of Allocation -- 3. Making Markets Work -- 4. The Failure of International Institutions -- 5. Competing for Capital -- 6. The Interpretation of Hegemony -- Works Cited -- Index |
title_new |
The Hidden Hand of American Hegemony : |
title_sort |
the hidden hand of american hegemony : petrodollar recycling and international markets / |
series |
Cornell Studies in Political Economy |
series2 |
Cornell Studies in Political Economy |
publisher |
Cornell University Press, |
publishDate |
2019 |
physical |
1 online resource (200 p.) : 4 tables, 10 drawings |
contents |
Frontmatter -- Contents -- Preface -- 1. Explaining Petrodollar Recycling -- 2. Defining the Principles of Allocation -- 3. Making Markets Work -- 4. The Failure of International Institutions -- 5. Competing for Capital -- 6. The Interpretation of Hegemony -- Works Cited -- Index |
isbn |
9781501711978 9783110536171 |
callnumber-first |
H - Social Science |
callnumber-subject |
HG - Finance |
callnumber-label |
HG3883 |
callnumber-sort |
HG 43883 A67 S65 42019 |
geographic_facet |
Arab countries. |
url |
https://doi.org/10.7591/9781501711978 https://www.degruyter.com/isbn/9781501711978 https://www.degruyter.com/document/cover/isbn/9781501711978/original |
illustrated |
Not Illustrated |
dewey-hundreds |
300 - Social sciences |
dewey-tens |
380 - Commerce, communications & transportation |
dewey-ones |
381 - Commerce |
dewey-full |
381.170973 |
dewey-sort |
3381.170973 |
dewey-raw |
381.170973 |
dewey-search |
381.170973 |
doi_str_mv |
10.7591/9781501711978 |
oclc_num |
1129187880 |
work_keys_str_mv |
AT spirodavide thehiddenhandofamericanhegemonypetrodollarrecyclingandinternationalmarkets AT spirodavide hiddenhandofamericanhegemonypetrodollarrecyclingandinternationalmarkets |
status_str |
n |
ids_txt_mv |
(DE-B1597)535295 (OCoLC)1129187880 |
carrierType_str_mv |
cr |
hierarchy_parent_title |
Title is part of eBook package: De Gruyter Cornell University Press Archive Pre-2000 |
is_hierarchy_title |
The Hidden Hand of American Hegemony : Petrodollar Recycling and International Markets / |
container_title |
Title is part of eBook package: De Gruyter Cornell University Press Archive Pre-2000 |
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1806143910796328960 |
fullrecord |
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