"A history of the globalization of US banking in the early twentieth century."--

Bibliographische Detailangaben

1. Verfasser:	Bridges, Mary 1979- (VerfasserIn)
Format:	Buch
Sprache:	English
Veröffentlicht:	Princeton Princeton University Press [2024]
Schriftenreihe:	America in the world
Schlagworte:	Banks and banking, International / United States / History / 20th century International finance / History / 20th century Financial institutions, International / History / 20th century Banques internationales / États-Unis / Histoire / 20e siècle Institutions financières internationales / Histoire / 20e siècle BUSINESS & ECONOMICS / Banks & Banking HISTORY / United States / 20th Century
Zusammenfassung:	"A history of the globalization of US banking in the early twentieth century."-- "How the creation of a new banking infrastructure in the early twentieth century established the United States as a global financial power. The dominance of US multinational businesses today can seem at first like an inevitable byproduct of the nation's superpower status. In 'Dollars and Dominion,' Mary Bridges tells a different origin story. She explores the ramshackle beginnings of US financial power overseas, showing that US bankers in the early twentieth century depended on the US government, European know-how, and last-minute improvisation to sustain their work abroad. Bridges focuses on an underappreciated piece of the nation's financial infrastructure-the overseas branch bank-as brick-and-mortar foundations for expanding US commercial influence.Bridges explores how bankers sorted their new communities into 'us'-potential clients-and 'them'-local populations, who often existed on the periphery of the banking world. She argues that US bankers mapped their new communities by creating foreign credit information-and by using a financial asset newly enabled by the Federal Reserve System, the bankers' acceptance, in the process. Doing so, they constructed a new architecture of US trade finance that relied on longstanding inequalities and hierarchies of privilege. Thus racialized, class-based, and gendered ideas became baked into the financial infrastructure. Contrary to conventional wisdom, there was nothing inevitable or natural about the rise of US finance capitalism. Bridges shows that US foreign banking was a bootstrapped project that began as a side hustle of Gilded Age tycoons that sustained itself by relying on the power of the US state, copying the example of British foreign bankers, and building alliances with local elites. In this way, US bankers constructed a flexible and durable new infrastructure to support the nation's growing global power."--
Beschreibung:	v, 271 Seiten Illustrationen 25 cm
ISBN:	9780691248134 0691248133