100 books like Money and Empire

I was in my first year of college when I witnessed (via news reports) the “Battle of Seattle,” where anti-globalization protestors shut down a negotiating round of the World Trade Organization.

Watching the news from Seattle made me want to study the politics of the international economy. Seattle seems to have had a similarly big impact on Slobodian since it pops up in the introductory and concluding chapters of Globalists.

Slobodian’s book tells the story of how a group of dissident economists and lawyers, mainly centered in Geneva, rewrote the postwar international rules to legally “encase” market-based transactions. This effort, which included the creation of the WTO in 1995, made markets more seamlessly globalized. But it also put the increasingly powerful market forces beyond democratic mechanisms of regulation and control, spurring backlash. 

Browsing my shelves in preparation for this book list, this one in particular jogged my memory as an important influence on my own book, an influence so internalized that I completely forgot about and never cited it! I remedy that lapse here. 

My copy of the book is heavily underlined with lots of stars in the margin, so I know it was important. You can see from the title that the author is concerned with the same tension between money and empire, he as a historian and me as an economist.

Now that I have finished my own book, I’ll be rereading this early influence to engage with its argument more deeply and directly. 

When Nixon took the dollar off gold in 1971, Kindleberger thought it was the end of the dollar system, and maybe even the beginning of a new depression, in parallel with the 1931 collapse of the sterling system. 

He was wrong about that, and the reason was the resilience of the global banking system, which basically refused to abandon the dollar even though the dollar had abandoned it! 

This book tells the story of the rise of the Eurobond market, the capital market counterpart to the offshore Eurodollar market, which grew up organically in the 1970s and after. 

One of the things I like most about this book is that the author is a practitioner, so the story is told from the point of view of one who was there.

This book tells the story of the global expansion of the dollar system after the collapse of Bretton Woods from the perspective of the BIS, the global central bank.

Created in 1930, as a last-ditch effort to backstop the sterling system (among other reasons), the story of the BIS runs parallel to the story I tell in my book.  This morning in class I asked my students, most of them international relations majors, if any of their other courses had mentioned the BIS, and not a single hand went up. Hence this recommendation!

Kindleberger worked at the BIS 1939-1940 and might well have made it his permanent home had not World War II intervened, and sent him back home to the Fed.  

When it comes to finding inspiration in our memories, Marcel Proust is literature’s gold standard. The French novelist devoted the balance of his life to the art of refracting his memories through the lens of his writerly self. Proust understood implicitly that our memories are triggered by sensory experiences—sights, sounds, smells, and touch, to be sure—but most especially through the pleasures of the text. In Du côté de chez Swann, the first volume of his epic À la recherche du temps perdu, Proust interrogates the ways in which memory is catalyzed by the senses, while comprehending, at the same time, the manner in which the reality of our memories becomes shaped by the ruinous work of nostalgia, of a sentimentality that exists beyond our ken.

Devotions is a comprehensive anthology of Mary Oliver’s best work. Oliver is without a doubt the gold standard in nature poetry, and one of the most renowned authors of the genre. It reminds me of all the reasons why she is and will always be my favorite poet, and one of the best poets of the last century. If anyone feels themselves drawn to nature poetry, this book is a must-read.

A colleague of mine introduced me to this book and argued that Kouzes and Posner wrote the gold standard of leadership practices. After reading their research-based stories, I agree.

The authors write in a way that goes beyond theory by offering a practical guide by focusing on the five practices of exemplary leadership. These practices are applicable to anyone’s career! Through inspiring examples and actionable steps, I learned how to lead with integrity, inspire others, and drive higher performance more effectively.

Read the gold standard of leadership development. It can become your call to action!

Britain, America, and France collectively adopted deflationary policies after 1920 to reestablish the gold standard at the pre-World-War-I parity. Japan's government joined in. The ensuing Japanese deflation retarded growth, produced widespread economic hardship, precipitated a banking crisis in 1927, and ultimately contributed to the sharp swing in Japan's politics towards fascistic, right-wing reactionaries, punctuated with an exclamation mark by the “Manchuria incident” of 1931. Metzler describes in granular detail this historical arc, with special attention to the key persons—including Innoue Junnosuke, Takahashi Korekiyo, and Thomas W. Lamont—and their own written justifications or critiques for the policies they or others implemented. It is not an economic analysis (like much of my book is) but a historical narrative, and a gripping one.

If you already know the economics of the gold standard, it’s even more gripping, because those behind the return to the gold standard in Japan, particularly including Innoue Junnosuke, were… show more.

Dr. Phelan strikes a home run with his 1-2-3 Magic program for disciplining children, by teaching parents how to use calm communication as opposed to that infused with frustration. The strength of his approach centers on getting toddlers to listen by using mild language and consistency, while refraining from exhibiting the strong emotions that often accompany attempts to reign in negative behavior. Phelan’s approach encourages parents to refrain from reactive communication, by replacing it with a much more effective method of redirecting little ones away from negative behavior. If you want to increase your toddler’s compliance, give 1-2-3 Magic a try. You may think counting doesn’t work, but done correctly, it can add up to amazing results!

This first book is nonfiction, but it’s a key book for carving out the imaginative space that makes nonviolence make sense. If you’re like me, you grew up taking for granted that locking up people who do crimes (a form of state violence) is the gold standard for keeping everyone else safe. Nonviolence, the reasoning goes, may be more morally pure, but at the cost of being effective. Sered’s book takes a hammer to this assumption, methodically dismantling the myth that the carceral system does much at all to support victims’ healing and safety. Until We Reckon provides a critical reality check for what benchmark nonviolent solutions should be compared to.