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The Political Economy of the Special Relationship: British Development and American Power

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dc.contributor.advisorLacher, Hannes P.
dc.creatorGreen, Jeremy
dc.date.accessioned2014-07-14T20:50:53Z
dc.date.available2014-07-14T20:50:53Z
dc.date.copyright2013-12-06
dc.date.issued2014-07-09
dc.date.updated2014-07-09T16:28:21Z
dc.degree.disciplinePolitical Science
dc.degree.levelDoctoral
dc.degree.namePhD - Doctor of Philosophy
dc.description.abstractBreaking from the traditional understanding of Anglo-American relations in terms of the cultural, diplomatic and military ‘Special Relationship’, this thesis explores the interdependent political-economic development of Britain and the United States. I argue that this interdependence has generated a specifically Anglo-American field of capitalist development that has been crucial to the transformation of the global political economy, particularly with regard to the creation and eventual undermining of the Bretton Woods monetary order. Reflecting the imbalance of power between Britain and the U.S., the thesis focuses principally upon the role of American power in shaping the transformation of Britain’s political economy and affecting Britain’s position within the global political economy. Moving away from the narrow preoccupation with decline that has dominated studies of British capitalism, I open up the study of British development within a broader transatlantic horizon that enables an alternative analysis which reveals important aspects of the politics of financial globalisation and the transformation of the U.S. political economy. I argue that the financial relationship between the two states and the key role of interaction between bankers in London and New York, in collaboration with their respective Treasuries and Central Banks, was crucial to the post-war transformation of the global political economy. The interactive development of Anglo-American finance was central to the development of financial globalisation, undermining the Bretton Woods order in the process. Anglo-American bankers alongside their respective Central Banks and Treasuries formed the basis of enduring economic orthodoxy within both states and presided over financial deregulation that critically undermined the basis of the Keynesian state in Britain. In the U.S., these transatlantic deregulatory dynamics eroded the basis of financial regulations that had been central to the politics of the New Deal. In both countries, the financial communities supported monetarism and the neoliberal central banking regimes of the Thatcher-Reagan era, which spurred a wider endorsement of the politics of price stability throughout the global political economy.en_US
dc.identifier.urihttp://hdl.handle.net/10315/27617
dc.language.isoenen_US
dc.rightsAuthor owns copyright, except where explicitly noted. Please contact the author directly with licensing requests.
dc.subjectPolitical Scienceen_US
dc.subjectEconomic historyen_US
dc.subjectFinanceen_US
dc.subject.keywordsDevelopmenten_US
dc.subject.keywordsAnglo-Americaen_US
dc.subject.keywordsBretton Woodsen_US
dc.subject.keywordsInternational monetary politicsen_US
dc.subject.keywordsDollaren_US
dc.subject.keywordsSterlingen_US
dc.subject.keywordsBankingen_US
dc.subject.keywordsNeoliberalismen_US
dc.subject.keywordsKeynesianismen_US
dc.subject.keywordsPolitical economyen_US
dc.subject.keywordsCentral bankingen_US
dc.subject.keywordsCurrency politicsen_US
dc.subject.keywordsDeregulationen_US
dc.subject.keywordsTransatlanticen_US
dc.titleThe Political Economy of the Special Relationship: British Development and American Poweren_US
dc.typeElectronic Thesis or Dissertation

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