My Life as a Politics Student
According to the Theory of Hegemonic Stability as illustrated by Charles Kindelberger in his work, “The World in Depression 1929-1939,” the pre-1914 era of British Hegemony was propagated by the ability of the quasi-autonomous Bank of England to act in its own interest in avoiding the problems caused by the current operation of the Gold Standard. Britain’s control over the institutions of the Gold Standard, characterized by its enormous holdings of overseas capital, and the incentive to preserve the system in order not to risk its assets as the largest financial power allowed the United Kingdom to guide the course of the Gold Standard System (Brown, pg. 180).
Can someone explain this to me? I wrote it, I understand it, but WHY? WHY am i studying this?
