HomeGroupsTalkZeitgeist
This site uses cookies to deliver our services, improve performance, for analytics, and (if not signed in) for advertising. By using LibraryThing you acknowledge that you have read and understand our Terms of Service and Privacy Policy. Your use of the site and services is subject to these policies and terms.
Hide this

Results from Google Books

Click on a thumbnail to go to Google Books.

The Financial Decline of a Great Power: War,…
Loading...

The Financial Decline of a Great Power: War, Influence, and Money in Louis…

by Guy Rowlands

MembersReviewsPopularityAverage ratingConversations
312,001,085 (4)None
Recently added bySimonTanner, fdhondt

None.

None
Loading...

Sign up for LibraryThing to find out whether you'll like this book.

No current Talk conversations about this book.

Excellent and well-written as the previous classic by Guy Rowlands. Although archival sources are fragmentary, Rowlands analyses credit and finance in the early 18th century in a truly masterly way. This book could as well have been written by a legal historian. ( )
  fdhondt | Jun 12, 2014 |
no reviews | add a review
You must log in to edit Common Knowledge data.
For more help see the Common Knowledge help page.
Series (with order)
Canonical title
Original title
Alternative titles
Original publication date
People/Characters
Important places
Important events
Related movies
Awards and honors
Epigraph
Dedication
First words
Quotations
Last words
Disambiguation notice
Publisher's editors
Blurbers
Publisher series
Original language

References to this work on external resources.

Wikipedia in English

None

Book description
Haiku summary

Amazon.com Product Description (ISBN 0199585075, Hardcover)

The financial humbling of a great power in any age demands explanation. In the War of the Spanish Succession (1701-14) Louis XIV's France had to fight way beyond its borders and the costs of war rose to unprecedented heights. With royal income falling as economic activity slowed down, the widening gap between revenue and expenditure led the government into a series of desperate expedients. Ever-larger quantities of credit, often obtained through fairly novel and poorly-understood financial instruments, were combined with ill-advised monetary manipulations. Moreover, through poor ministerial management the system of earmarking revenues for spending descended into chaos. All this forced up the cost of loans, foreign exchange, and military logistics as government contractors and bankers built the mounting risks into the price of their contracts and sought to profit from the situation. There was already a problem with controlling royal contractors, who ran the entire financial machinery, but this only grew worse, not least because the government further indemnified and bailed out men deemed too essential to fail. In some cases entrepreneurs even managed to penetrate the corridors of the ministries, either as heads of royal agencies or even as junior ministers. This added up to nothing less than an early military-industrial complex. As state debt climbed to astronomical levels and financial instruments collapsed in value France's chances of remaining the superpower of the age shrank. The military decline of a great power often goes hand-in-hand with its financial decline, but rarely so dramatically as in early eighteenth-century France.

(retrieved from Amazon Thu, 12 Mar 2015 18:15:48 -0400)

No library descriptions found.

Quick Links

Popular covers

Rating

Average: (4)
0.5
1
1.5
2
2.5
3
3.5
4 1
4.5
5

Is this you?

Become a LibraryThing Author.

 

About | Contact | Privacy/Terms | Help/FAQs | Blog | Store | APIs | TinyCat | Legacy Libraries | Early Reviewers | Common Knowledge | 126,473,199 books! | Top bar: Always visible