Book reviews

Cyril Smith, Marx at the Millennium, (Pluto Press, London 1996). 182pp. ISBN 0–7453–100–1 (pb).

Hans‐Henrik Holm and Georg Sørensen (eds), Whose World Order? Uneven Globalization and the End of the Cold War, (Westview Press, Boulder 1995). x.+246pp. ISBN 0–8133–2187–5 (pb).

David A.Smith and József Böröcz (eds), A New World Order? Global Transformations in the Late Twentieth Century, (Praeger, Westport 1995). xii+253pp. ISBN 0–275–95122–7.

Frank E. Manuel, A Requiem for Karl Marx, (Harvard University Press, 1995). 270pp. ISBN 0–674–76326–2.

Hanna Behrend (ed.), German Unification: the Destruction of an Economy, (Pluto Press, London 1995). 232pp. ISBN 0–7453–1003–6.

David Miller, On Nationality, (Clarendon Press, Oxford 1995). 210pp. ISBN 0–19–828047–5.

Thom Keuhls, Beyond Sovereign Territory: The Space of Ecopolitics, (Borderlines Vol. 4, University of Minnesota Press, Minneapolis 1996). 168 pp. ISBN 0–8166–2467–4 (hb), 0–8166–2468–2 (pb).     

Reviews

Bert van Selm, The Economics of Soviet Break‐up. London: Routledge, 1997, xii + 161 pp., £40.00.

Clifford G. Gaddy, The Price of the Past. Russia's Struggle with the Legacy of a Militarised Economy. Washington, DC: Brookings Institution Press, 1996, xiii + 250 pp., £20.95.

Mark Galeotti, Gorbachev and His Revolution. London: Macmillan, 1997, ix + 142 pp., £35.00 h/b, £9.99 p/b.

Carolyn McGiffert Ekedahl & Melvin A. Goodman, The Wars of Eduard Shevardnadze. London: Hurst & Company, 1997, xxiii +331pp., £29.50.

Justin Burke, Crimean Tatars: Repatriation and Conflict Prevention. New York: Open Society Institute, Forced Migrations Projects, 1996, 95 pp., distributed free.

Phil Williams (ed.), Russian Organized Crime. The New Threat? London: Frank Cass, 1997, 270 pp., £29.50 h/b, £16.50 p/b.

Karen Dawisha & Bruce Parrott (eds), Democratic Changes and Authoritarian Reactions in Russia, Ukraine, Belarus and Moldova, Cambridge: Cambridge University Press, 1997, xvii + 386 pp., £55.00 h/b, £19.95 p/b.

Joan Barth Urban & Valerii D. Solovei, Russia's Communists at the Crossroads. Boulder: Westview Press, 1997, xi + 209 pp., £14.00

Semyon Reznik, The Nazification of Russia: Antisemitism in the Post‐Soviet Era. Challenge Publications: Washington, DC, 1996.

Stephen J. Blank & Alvin Z. Rubinstein (eds), Imperial Decline. Russia's Changing Role in Asia. London: Duke University Press, 1997, vi + 296 pp. £14.95.

Miranda Vickers & James Pettifer, Albania: From Anarchy to a Balkan Identity. London: Hurst & Company, 1997, xii + 324 pp.

Eric D. Weitz, Creating German Communism, 1890–1990. From Popular Protests to Socialist State. Princeton NJ: Princeton University Press, 1997, xviii + 445 pp. £52.50 h/b, £19.95 p/b.

Mark Harrison, Accounting for War. Soviet Production, Employment and the Defence Burden 1940–1945. Cambridge: Cambridge University Press, 1996, xxxiv + 338 pp.

Arup Banerji, Merchants and Markets in Revolutionary Russia, 1917–30, Basingstoke; Macmillan, 1997, xxiv + 237 pp. £45.00.

Melissa Kirschke Stockdale, Paul Miliukov and the Quest for a Liberal Russia, 1880–1918. Ithaca, NY: Cornell University Press, 1996, xix + 379 pp., £29.95.

A. V. Buganov, Russkaya istoriya v pamyati krest'yan XIX veka i natsional'noe samosoznanie. Moscow: Institut etnologii i antropologii im. N. N. Minklukho‐Maklaya, 1992, 208 pp.     

The Savings and Loan Debacle and Erosion of the Dual System of Bank Regulation

The crisis in the banking and thrift industries is catalyzinga shift in the traditional system of dual state-federal bankregulation toward the federal government and away from the states.Erosion in this system has been evident for the past decadedue to actions of the Congress, federal regulators, and thejudiciary. The dual system has two sets of flaws. One is regulatorycompetition that encourages weak monitoring of financial institutionsby states. The other is created by the "moral hazard" of thecurrent system of federal deposit insurance. There are two pathsto reform. One is continued erosion of the power of the states.The alternative is to provide incentives that reinforce thedual system of regulation and deter the sources of "moral hazard."