Casino Capitalism
Strange, Susan. Casino Capitalism. Oxford: Blackwell Publishers, 1986.
Strange argues that uncertainty and risk in the financial sector/structure have provoked major economic disturbances in the last twenty or so years. This work represents a detailed sectoral history and analysis which argues against many of the proposed solutions to the international economic crisis she identifies. Strange argues that the United States must once again take up the leadership role (which it enjoys by virtue of economic preponderance) and more radically suggests that in the future financial regulation of credit creating agencies should not be a territorially based jurisdiction, but based on the currencies themselves wherever the credit transactions take place. Using her analysis, locating and understanding ‘key decisions’ in one sector/structure of power in the international political economy, Strange shows how disruption has spread to affect the other structures, and concludes with suggestions for how constitutional and governmental changes in the United States would benefit the international system. Alongside States and Markets (1988) and Rival States, Rival Firms (with John M. Stopford, 1991) this represents a major part of the influential core of Strange’s work on international political economy.
Reprinted, Manchester: Manchester University Press, 1997.
Keywords: Foundational Work; Money and Finance; Theory; General Framework