Breaking from conventional wisdom, this book provides an explanation of exchange rates based on the premise that it is financial capital flows and not international trade that represents the driving force behind currency movements. John T. Harvey combines analyses rooted in the scholarly traditions of John Maynard Keynes and Thorstein Veblen with that of modern psychology to produce a set of new theories to explain international monetary economics, including not only exchange rates but also world financial crises. In the book, the traditional approach is reviewed and critiqued and the alternative is then built by studying the psychology of the market and balance of payments questions. The central model has at its core Keynes' analysis of the macroeconomy and it assumes neither full employment nor balanced trade over the short or long run. Market participants' mental model, which they use to forecast future exchange rate movements, is specified and integrated into the explanation. A separate but related discussion of currency crises shows that three distinct tension points emerge in booming economies, any one of which can break and signal the collapse.
Each of the models is compared to post-Bretton Woods history and the reader is shown exactly how various shifts and adjustments on the graphs can explain the dollar's ups and downs and the Mexican (1994) and Asian (1987) crises.
Table of Contents:
Preface 1. Beyond Realism and Relativism 2. Understanding Utilitarianism 3. When Is It Right to Fight? 4. Utilitarianism, Pacifism, and Just War Theory 5. National Defense and its Limits 6. The Rules of War 7. Combatants and Noncombatants 8. Ethics and the Profession of Arms Conclusion
About the Author :
William H. Shaw is Professor of Philosophy at San Jose State, USA. He is the author/editor of numerous books.
Review :
'William H. Shaw’s Utilitarianism and the Ethics of War is a terrific book that will enlighten readers interested in moral problems about warfare as well as friends and foes of utilitarian moral theory.' -- Stephen Nathanson, Emeritus Professor, Northeastern University, USA
'In this important new work, Professor Shaw reflects not simply upon what states and their leaders actually consider or how they actually reason when declaring and conducting armed conflict, he offers convincing arguments regarding what they are also obliged to consider, and how they ought to reason about war and its consequences in terms of its overall impact on the welfare of their citizens and of society at large. While such utilitarian considerations traditionally infuse "just war" reasoning unsystematically, Shaw’s is the first explicitly systematic treatment by an eminent utilitarian moral philosopher of just exactly how considerations of well-being and the common good offer the most useful and advantageous analysis of war’s likely impact and permissibility. This is a significant revision and clarification of just war reasoning generally that ought to be read by every serious scholar or student of political theory, international relations, or moral philosophy.' -- George Lucas, Emeritus Professor, U.S. Naval Academy
'William Shaw provides a cogent, compelling, and comprehensive account of the ethics of war, arguing persuasively that utilitarianism provides the most satisfactory basis for answering questions both about the justification of going to war, and about the ethical limits of conduct in war. This book provides a much-needed counterpoint to the deontological approaches that dominate contemporary discussion of military ethics.' -- Alastair Norcross, University of Colorado, USA
‘Shaw’s Utilitarianism and the Ethics of War masterfully develops utilitarian prescriptions about when wars should be fought and about what are the rules that commanders and lower-ranked military personnel should follow in wars. Especially impressive are Shaw’s explanations of how utilitarianism underwrites the principles of just war theory. This is a very wise book.’ -- Brad Hooker, University of Reading, UK
'Shaw's book deserves praise for several reasons. It is reader-friendly, well researched, organized, and argued. Most importantly it reminds us that although utilitarianism has been assassinated repeatedly both recently and in the past, miraculously, it is still alive and well.' -- Nick Fotion, Emory University, Notre Dame Philosophical Reviews
'The volume is clear, carefully argued, and thorough in its discussion of the literature on the morality of war.' Summing Up: Highly recommended.' -- Choice, J. H. Spence, Adrian College (CHOICE Outstanding Academic Title for 2017)
