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The New Geography of Global Income Inequality (review)

The New Geography of Global Income Inequality (review) Book Reviews Capital Markets," suggests that we may be entering a new phase in freeing the market from any sort of regulation or control. She suggests that markets are being freed from governmental, court, and company influence through the use of new communication technologies. The magnitude of financial transactions made possible by new information technologies have swamped, she suggests, the financial assets of nationstates. Thus in 2000 the aggregate GDP of all countries stood at $30 trillion, while the value of internationally traded derivatives was over $65 trillion. Thus capital markets, with the power to quickly deposit or withdraw huge sums from countries, have become a major factor in their own right to rival the state. She concludes with a series of questions that in many ways summarize the issues addressed in the books under review: "Does the global capital market now have the power to `discipline' national governments, that is to say, to subject at least some monetary and fiscal policies to financial criteria where before this was not quite the case? How does this affect national economies and government policies more generally? Does it alter the functioning of democratic governments? Does this kind of concentration of http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of World History University of Hawai'I Press

The New Geography of Global Income Inequality (review)

Journal of World History , Volume 16 (4)

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Publisher
University of Hawai'I Press
Copyright
Copyright © 2005 by University of Hawai'i Press.
ISSN
1527-8050
Publisher site
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Abstract

Book Reviews Capital Markets," suggests that we may be entering a new phase in freeing the market from any sort of regulation or control. She suggests that markets are being freed from governmental, court, and company influence through the use of new communication technologies. The magnitude of financial transactions made possible by new information technologies have swamped, she suggests, the financial assets of nationstates. Thus in 2000 the aggregate GDP of all countries stood at $30 trillion, while the value of internationally traded derivatives was over $65 trillion. Thus capital markets, with the power to quickly deposit or withdraw huge sums from countries, have become a major factor in their own right to rival the state. She concludes with a series of questions that in many ways summarize the issues addressed in the books under review: "Does the global capital market now have the power to `discipline' national governments, that is to say, to subject at least some monetary and fiscal policies to financial criteria where before this was not quite the case? How does this affect national economies and government policies more generally? Does it alter the functioning of democratic governments? Does this kind of concentration of

Journal

Journal of World HistoryUniversity of Hawai'I Press

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