Michael Lee is an assistant professor in the Department of Political Science at Hunter College.

• List of Figures and Tables 1. IntroductionGrowth versus Stability in Financial RegulationThe Argument in BriefAlternate ExplanationsDecline, Deregulation, and Crises through HistoryThe Plan of This Book2. A Theory of Great DeregulationsWhat Is Financial Leadership?The Causes and Consequences of DeclineHow Do Lead Economies (and Challengers) Respond to Decline?International RegulationConclusion3. The Great Deregulation of the 1850sThe Origins of the Joint Stock Banking ActNapoléon III and the French Financial RevolutionThe Turn to Limited Liability in BritainThe SpiralConclusion4. The Interwar Battle for Financial SupremacyThe (Financial) Pax BritannicaThe American Challenge to British Financial LeadershipThe First World War and British Decline The Gold-Exchange Standard and Britain’s Return to GoldFrom Restoration to DepressionConclusion5. The Great Deregulation of 1980-2000An Era of Stability: Bretton Woods and the Glass-Steagall EraDeregulation Stalls, 1980-6Competitive ChallengesThe Rise of JapanA British ChallengeCompetitiveness and the End of Glass-Steagall, 1986-2000Conclusion6. ConclusionAmerican Twilight?Appendix: Distinguishing between Stringent and Lax Regulation Notes Works CitedIndex

Michael Lee is an assistant professor in the Department of Political Science at Hunter College.

• List of Figures and Tables 1. IntroductionGrowth versus Stability in Financial RegulationThe Argument in BriefAlternate ExplanationsDecline, Deregulation, and Crises through HistoryThe Plan of This Book2. A Theory of Great DeregulationsWhat Is Financial Leadership?The Causes and Consequences of DeclineHow Do Lead Economies (and Challengers) Respond to Decline?International RegulationConclusion3. The Great Deregulation of the 1850sThe Origins of the Joint Stock Banking ActNapoléon III and the French Financial RevolutionThe Turn to Limited Liability in BritainThe SpiralConclusion4. The Interwar Battle for Financial SupremacyThe (Financial) Pax BritannicaThe American Challenge to British Financial LeadershipThe First World War and British Decline The Gold-Exchange Standard and Britain’s Return to GoldFrom Restoration to DepressionConclusion5. The Great Deregulation of 1980-2000An Era of Stability: Bretton Woods and the Glass-Steagall EraDeregulation Stalls, 1980-6Competitive ChallengesThe Rise of JapanA British ChallengeCompetitiveness and the End of Glass-Steagall, 1986-2000Conclusion6. ConclusionAmerican Twilight?Appendix: Distinguishing between Stringent and Lax Regulation Notes Works CitedIndex

Michael Lee is an assistant professor in the Department of Political Science at Hunter College.

• List of Figures and Tables 1. IntroductionGrowth versus Stability in Financial RegulationThe Argument in BriefAlternate ExplanationsDecline, Deregulation, and Crises through HistoryThe Plan of This Book2. A Theory of Great DeregulationsWhat Is Financial Leadership?The Causes and Consequences of DeclineHow Do Lead Economies (and Challengers) Respond to Decline?International RegulationConclusion3. The Great Deregulation of the 1850sThe Origins of the Joint Stock Banking ActNapoléon III and the French Financial RevolutionThe Turn to Limited Liability in BritainThe SpiralConclusion4. The Interwar Battle for Financial SupremacyThe (Financial) Pax BritannicaThe American Challenge to British Financial LeadershipThe First World War and British Decline The Gold-Exchange Standard and Britain’s Return to GoldFrom Restoration to DepressionConclusion5. The Great Deregulation of 1980-2000An Era of Stability: Bretton Woods and the Glass-Steagall EraDeregulation Stalls, 1980-6Competitive ChallengesThe Rise of JapanA British ChallengeCompetitiveness and the End of Glass-Steagall, 1986-2000Conclusion6. ConclusionAmerican Twilight?Appendix: Distinguishing between Stringent and Lax Regulation Notes Works CitedIndex