This is the first history on the subject of foreign investment
in the United States since 1920. It shows how the United States
changed from a debtor nation to a supplier of capital to the rest
of the world, and then details the structural shifts to this
creditor position after the breakdown of the Bretton Woods system
in 1972. Geisst demonstrates that the United States has always been
a magnet for foreign portfolio and direct investment.
Traditionally, this has come from northern European or Canadian
sources, but in the 1970s the Japanese became a major force.
Currently, both types of investment in the United States are at
historically high levels, but Geisst asserts that this foreign
interest exerts a positive rather than a negative impact on the
economic climate.
This study is a counterpart to the author's earlier examination
of domestic investment in the United States, "Visionary Capitalism:
Financial Markets and the American Dream in the Twentieth Century."
It will be of interest to scholars and professionals in finance and
investments, business history, and American history.
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