Capitals of Capital: The Rise and Fall of

This is the first history of international financial centres and of the major stake that they now represent in the global economy. Youssef Cassis, one of the world's leading financial historians, provides a fascinating comparative history of the most important centres that constitute the capitals of capital - New York, London, Frankfurt, Paris, Zurich, Amsterdam, Tokyo, Hong Kong, Singapore. The book explores the dynamics of the rise and decline of these great centres from the beginning of the industrial age up to the present, setting them in their economic, political, social and cultural context and drawing on concepts from financial economics in its analysis of events. This paperback edition has been fully updated to take account of the challenges posed by the financial collapse of 2007-8 and offers the longer-term framework necessary to understand the crisis gripping capitals of capital today.

Youssef Cassis is Professor of Economic History at the University of Geneva and Visiting Fellow at the London School of Economics and Political Science. His work mainly focuses on banking and financial history, as well as business history more generally. His numerous publications on this subject include City Bankers 1890-1914 (1994) and Big Business: The European Experience in the Twentieth Century (1997).

List of tables	p. vii
Foreword	p. ix
Preface	p. xiii
Introduction	p. 1
The age of private bankers, 1780-1840	p. 7
The grandeur and decline of Amsterdam	p. 9
The rise of the City of London	p. 15
The revival of Paris	p. 24
The lesser centres	p. 31
Interactions and networks of relationships	p. 37
The concentration of capital, 1840-1875	p. 41
The banking revolution	p. 42
The railway adventure	p. 54
Rivalry between London and Paris	p. 60
The rise and fall of the lesser centres	p. 68
A globalised world, 1875-1914	p. 74
The globalisation of the world economy	p. 75
World financial capital: the City of London	p. 83
A brilliant second: Paris	p. 101
The rise of Berlin	p. 108
The rising star: New York	p. 114
Niches and specialisations	p. 124
Competition and cooperation	p. 131
The Belle Epoque of the bankers	p. 135
Wars and depression, 1914-1945	p. 143
The Great War	p. 144
The roaring twenties	p. 152
The years of crisis	p. 180
The Second World War	p. 193
Growth and regulation, 1945-1980	p. 200
The difficult return to convertibility	p. 204
The birth and development of the Euromarkets	p. 219
The dawn of globalisation	p. 235
Globalisation, innovation and crisis, 1980-2009	p. 242
The new world economy	p. 242
The leading financial centres at the dawn of the twenty-first century	p. 263
Global financial meltdown	p. 280
Conclusion	p. 286
Glossary	p. 295
Notes	p. 304
Bibliography	p. 356
Index	p. 376
Table of Contents provided by Ingram. All Rights Reserved.

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Capitals of Capital: The Rise and Fall of International Financial Centres 1780â€“2009

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Table of Contents

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