The Shift of History – Part 4
For Kindleberger, financial dynamics are not inherently stable. It requires a leader, a hegemon, who, through their actions, guarantees it, giving it the characteristics of a global public good. All…
Philippe Waechter's blog
The Shift of History – Part 3
The current architecture of the global economy owes much to the actions of central banks. Since the early 1980s, with the progressive financialization of the global economy, they have taken…
The Shift of History – Part 2
Thucydide and Fernand Braudel allow us to understand the movements, Kindleberger is more in the analysis of the dynamics which are stalling. For Thucydide, Sparta must enter into conflict with…
The Shift of History – Part 1
World history is generally shaped by a leading country. This has been the case since World War II with the United States and earlier with Great Britain. This hegemon provides…