"Since the 1960s, scholars and other commentators have frequently announced the imminent decline of American financial power: excessive speculation and debt are believed to have undermined the long-term basis of a stable U.S.-led financial order.
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Most books on American finance emphasize the ways in which globalization and deregulation have promoted irresponsible speculation, excessive risk-taking and unsustainable levels of debt. This book argues that the American financial system is in fact far from a house of cards, but a proper edifice, built on foundations with their own distinctive points of strength and weakness.