Includes bibliographical references (pages 268-271) and index.
"Leonard Seabrooke provides a timely and up-to-date account of change in international finance in particular, and in the international political economy more generally. He argues that change in international finance has been generated by US 'structural power'. But in contrast to mainstream 'systemic' theory, he argues that structural power is derived from dynamics that lie within the state. Seabrooke demonstrates how Washington and Wall Street's promotion of direct financing generated US structural power and encouraged Britain, Japan and Germany to 'catch up' to US-led innovations.
By drawing on specific insights from Weberian historical sociology and especially Max Weber's arguments about finance, he suggests that the secret of US structural power lies with the ability of the state to embed finance through society. The book provides a compelling view of the sources of America's 'victory of dividends' and will be enjoyed by students and scholars of international relations, sociology, economic history and state theory."--Jacket.