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The Resource The hidden hand of American hegemony : petrodollar recycling and international markets, David E. Spiro

The hidden hand of American hegemony : petrodollar recycling and international markets, David E. Spiro

Label
The hidden hand of American hegemony : petrodollar recycling and international markets
Title
The hidden hand of American hegemony
Title remainder
petrodollar recycling and international markets
Statement of responsibility
David E. Spiro
Creator
Subject
Language
eng
Summary
  • "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. This massive reallocation of wealth is labeled petrodollar recycling."--Jacket
  • "David Spiro has followed the money trail, and the story he tells, based on interviews and a painstaking accumulation of fragmentary evidence, contradicts the accepted beliefs both in the particulars and in broad outline. Most of the sudden flush of new oil wealth did not 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 policy makers 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 consumerism of its citizenry."--Jacket
Member of
Cataloging source
DLC
http://library.link/vocab/creatorName
Spiro, David E
Dewey number
381/.17/0973
Illustrations
illustrations
Index
index present
LC call number
HG3883.A67
LC item number
S64 1999
Literary form
non fiction
Nature of contents
bibliography
Series statement
Cornell studies in political economy
http://library.link/vocab/subjectName
  • Investments, Arab
  • Petroleum products
  • International finance
  • Balance of payments
  • Organization of Petroleum Exporting Countries
  • International Monetary Fund
  • United States
Label
The hidden hand of American hegemony : petrodollar recycling and international markets, David E. Spiro
Instantiates
Publication
Bibliography note
Includes bibliographical references (pages 159-167) and index
Carrier category
volume
Carrier category code
  • nc
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
  • Explaining Petrodollar Recycling
  • Defining the Principles of Allocation
  • Making Markets Work
  • The Failure of International Institutions
  • Competing for Capital
  • The Interpretation of Hegemony
Control code
41039837
Dimensions
25 cm
Extent
xiv, 177 pages
Isbn
9780801428845
Isbn Type
(cloth : alk. paper)
Lccn
99022900
Media category
unmediated
Media MARC source
rdamedia
Media type code
  • n
Other physical details
illustrations
Label
The hidden hand of American hegemony : petrodollar recycling and international markets, David E. Spiro
Publication
Bibliography note
Includes bibliographical references (pages 159-167) and index
Carrier category
volume
Carrier category code
  • nc
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
  • Explaining Petrodollar Recycling
  • Defining the Principles of Allocation
  • Making Markets Work
  • The Failure of International Institutions
  • Competing for Capital
  • The Interpretation of Hegemony
Control code
41039837
Dimensions
25 cm
Extent
xiv, 177 pages
Isbn
9780801428845
Isbn Type
(cloth : alk. paper)
Lccn
99022900
Media category
unmediated
Media MARC source
rdamedia
Media type code
  • n
Other physical details
illustrations

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