An Interview with Celso Amorim, Former Brazilian Foreign Minister

Agreement on Tariffs and Trade], were only for the capitalist world. There was an order, which, in theory, combined Western democracy with a more-or-less regulated capitalism: the so-called liberal order – although perhaps ‘liberal’ isn’t the most precise term, either in political or economic terms. There were of course other characteristics. The promotion of human rights became one, for example, albeit selective. When South Korea was still under dictatorship, we would ask ‘What about South Korea? Shouldn’t it also be expected to respect human rights

Journal of Humanitarian Affairs
Open Access (free)
A Crisis of Value

This book explains the fundamental causes of the bank's failure, including the inadequacy of the regulatory and supervisory framework. For some, it was the repeal of the Glass-Steagall Act that was the overriding cause, not just of the collapse of Lehman Brothers, but of the financial crisis as a whole. The book argues that the cause is partly to be found both in weak and ineffective regulation and also in a programme of regulation and supervision that was simply not fit for the purpose. Lehman Brothers' long history began with three brothers, immigrants from Germany, who sold selling groceries and dry goods to local cotton farmers. Dick Fuld, the chairman and CEO, and his senior management, ignored the increased risks, choosing to rely on over-valuations of the firm's assets. The book examines the regulation of the Big Five investment banks in the context of the changes which took place in the structure of banking after the repeal of the Glass-Steagall Act. It describes the introduction of the European Union's Consolidated Supervision Directive in 2004. The book examines the whole issue of valuing Lehman's assets and details the regulations covering appraisals and valuations of real estate, applicable at the time and to consider Lehman's approach in the light of these regulations. It argues that that the valuation of Lehman's real estate assets was problematic to say the least, as the regulators did not require the investment banks to adopt a recognized methodology of valuation, and that Lehman's own methods were flawed.

. The later stages of the existence of Lehman Brothers were dominated by Dick Fuld, one of the longest-serving chief executives on Wall Street. Fuld's dominance of the company, which he had built up and which he regarded as almost a personal possession, was one of the causes of its ultimate failure. Lehman Brothers' long history began with three brothers, immigrants from Germany, setting up a small shop in Alabama, selling groceries and dry goods to local cotton farmers. Their business soon evolved into cotton trading. Henry, the eldest brother

in Lehman Brothers

bilateral relations with FSU states. Moscow has used both military and trade arrangements to reassert its interests in Eurasia.1 Nationalism has continued to be widespread throughout the area of the FSU and it has further invigorated post-Soviet concerns over national autonomy.2 States once dominated by Moscow have pursued various bilateral and multilateral means to consolidate their sovereignty, lessen their economic and security dependence on Russia, and integrate into the mainstream global system. All of these states face the reality of geographical location and a

in Limiting institutions?
The Stamp Act Crisis

from merchants and manufacturers involved in the nascent cotton industry of Lancashire, for at this time cotton was grown only in the West Indies. Chancellor of the Exchequer Dowdeswell thought the advantage of duty-free cotton imports self-evident, and on 7 April witnesses told the House of Commons that Dominica as a free port could replace the Dutch island of St Eustatius as an international entrepôt for West Indies trade. But just when all seemed to be plain sailing, British West Indies merchants objected to this threat to their trade monopoly; and what rendered

in George III
Current policy options and issues

economies continue to pose problems in the post-conflict phase. Reports from Angola illustrate this point with one researcher finding that W HETHER SEEN the management of the diamond industry retains many of the characteristics that it acquired during the periods when the diamond fields were both a prize and a weapon in the civil war: the control of the diamond fields and their populations by force of arms . . . and the domination of the Angolan diamond trade by secretive networks operating on the margins of the law, but ultimately to the benefit of political elites

in Building a peace economy?
Open Access (free)
Frontier patterns old and new

territory and the next? This is a long unsettled question that raises its head periodically in one location or another throughout the region. In the early colonial period the islands were traded like booty, to the extent that St Lucia, traded back and forth between France and Great Britain, became known as the Helen of the West Indies. More prosaically, even within the British area of rule, boundaries

in Frontiers of the Caribbean
The restructuring of work in Britain

’ in its role of safeguarding ‘private interests and the liberation of private energies’ (Gamble, 1994: 72-3). The webs of power surrounding and suffusing industrialisation are revealed to produce the ‘individual’ as the central actor in social change. The cotton industry appeared to require little in the way of state coordination, enabling small-scale private entrepreneurs to ‘launch themselves’ into an international marketplace (Gerschenkron, 1962; Hobsbawm, 1975). The cotton industry was launched, like a glider, by the pull of the colonial trade to which it was

in Globalisation contested
Open Access (free)
The international system and the Middle East

and society. The quarters of trading cities, peasant villages, tribes, and a mosaic of religious minorities were self-contained communities enjoying autonomy under their own leaders. The empire embraced Christians in the Balkans, Turks in Anatolia, and Arabs in the Fertile Crescent, Egypt, and North Africa. Ethnic nationalism was a foreign concept. While semi-independent territorial states sometimes emerged in the provinces when the imperial centre weakened, since the boundaries of such units fluctuated with the power of the time, there was

in The international politics of the Middle East
A game of chance?

with the vagaries of the trade cycle. The development trajectory of Barrowford (then known as Barrowford Booth) was slightly different. Located near the border with Yorkshire it was in hilly country with little arable land and chiefly grassland used for pasture. Cotton mills were established here but they were late in coming and transient in their existence.18 The pattern in all of the above areas between the late eighteenth and early nineteenth centuries is one reflecting rapid social change as both agriculture and industry experienced some of the most intensive

in The poor in England 1700–1850