"Globalization" is here. Signified by an increasingly close economic interconnection that has led to profound political and social change around the world, the process seems irreversible. In this book, however, Harold James provides a sobering historical perspective, exploring the circumstances in which the globally integrated world of an earlier era broke down under the pressure of unexpected events.

James examines one of the great historical nightmares of the twentieth century: the collapse of globalism in the Great Depression. Analyzing this collapse in terms of three main components of global economics--capital flows, trade, and international migration--James argues that it was not simply a consequence of the strains of World War I but resulted from the interplay of resentments against all these elements of mobility, as well as from the policies and institutions designed to assuage the threats of globalism. Could it happen again? There are significant parallels today: highly integrated systems are inherently vulnerable to collapse, and world financial markets are vulnerable and unstable. While James does not foresee another Great Depression, his book provides a cautionary tale in which institutions meant to save the world from the consequences of globalization--think WTO and IMF, in our own time--ended by destroying both prosperity and peace.

Offering a fresh look at trade during the second industrial revolution, Global Markets Transformed describes a world of commodities on the move—wheat and rice, coffee and tobacco, oil and rubber, all jostling around the planet through a matrix of producers, processors, transporters, and buyers. Steven C. Topik and Allen Wells discuss how innovations in industrial and agricultural production, transportation, commerce, and finance transformed the world economy from 1870 to 1945.

Topik and Wells trace the evolution of global chains of commodities, from basic food staples and stimulants to strategically important industrial materials, that linked the agricultural and mineral-producing areas of Latin America, Asia, and Africa to European and North American consumers and industrialists. People living a great distance apart became economically intertwined as never before. Yet laborers and consumers at opposite ends of commodity chains remained largely invisible to one another. Affluent American automobile owners who were creating the skyrocketing demand for tires, for example, knew almost nothing about poor Brazilian tappers who sweated in the Amazon to supply the rubber necessary for their vehicles.

As commodity chains stretched out around the world, more goods were bound up in markets that benefited some countries more than others. Global Markets Transformed highlights the lessons and legacy of the early years of globalization—when the world’s population doubled, trade quadrupled, industrial output multiplied fivefold, and the gap between rich and poor regions grew ever wider.

Environmental groups for the first time formalized their role in shaping U.S. and international trade policy during their involvement in NAFTA negotiations. John J. Audley identifies the political forces responsible for forging this new intersection of trade and environment policy during NAFTA negotiations, analyzes the achievements of the environmentalists, and explores their prospects for influencing future trade policy.

The need to reconcile the conflicting paradigms of economic expansion through free trade and that of limited sustainable development played a significant part in the political debate. Reluctant to acknowledge any relationship between these two principles, traditional trade policy actors were forced to include environmental interest groups in negotiations when the latter seriously threatened the treaty by aligning themselves with other anti-NAFTA interest groups, particularly labor. Other environmental groups worked with trade advocates to secure compromises in the agreement. The final bill included unprecedented environmental provisions, but not without serious infighting within the environmentalist community.

Drawing on his access to private as well as public documents exchanged among participants, Audley explores the interactions among the political actors. He explains how political compromises between environmental groups and trade policy elites came about, focusing in particular on the roles played by eleven national environmental organizations. In identifying their accomplishments, he concludes that although the environmentalists won some procedural changes, they failed to modify the norm of unfettered growth as the guiding principle of U.S. trade policy.

The first book to probe the role that environmental politics play in trade policy, this volume offers new insights into the political effectiveness of environmental organizations.

In our increasingly globalized world, U.S. trade policy stands at the intersection of foreign and domestic affairs. This book explains trade policy in terms of domestic politics, presenting a concise account of its origins and political significance.

Although trade policy is a component of foreign policy, Philip A. Mundo explains how it is rooted in the domestic policy process and carries with it enormous implications for domestic affairs. He reviews the growing importance of trade policy since World War II — particularly over the past twenty years — and shows how recent policies like NAFTA are shaped by the domestic agenda.

Mundo explains trade policy as the product of a three-stage process comprising agenda setting, program adoption, and implementation. He reviews this process in terms of the ideas that inform trade policy, the interests that seek to influence it, and the institutions that shape it. He also addresses the importance of specific measures, such as administrative relief and trade sanctions.

This book distills the essence of the trade policy process into a concise, innovative framework accessible to students and general readers. With the growing importance of trade policy, it makes explicit many of the subtleties surrounding policymaking while fully explicating the legal and international context in which trade operates.

We are in the midst of an energy revolution, led by the United States. As the world’s greatest producer of natural gas moves aggressively to expand its exports of liquefied natural gas (LNG), America stands poised to become an energy superpower—an unanticipated development with far-reaching implications for the international order. Agnia Grigas drills deep into today’s gas markets to uncover the forces and trends transforming the geopolitics of gas.

The boom in shale gas production in the United States, the growth of global LNG trade, and the buildup of gas transport infrastructure worldwide have so transformed the traditional markets that natural gas appears to be on the verge of becoming a true global commodity. Traditional suppliers like Russia, whose energy-poor neighbors were dependent upon its gas exports and pipelines, are feeling the foundations of the old order shifting beneath their feet. Grigas examines how this new reality is rewriting the conventional rules of intercontinental gas trade and realigning strategic relations among the United States, the European Union, Russia, China, and beyond.

In the near term, Moscow’s political influence will erode as the Russian gas giant Gazprom loses share in its traditional markets while its efforts to pivot eastward to meet China’s voracious energy needs will largely depend on Beijing’s terms. In this new geopolitics of gas, the United States will enjoy opportunities but also face challenges in leveraging its newfound energy clout to reshape relations with both European states and rising Asian powers.

The Organization of Firms in a Global Economy presents a new research program that is transforming the study of international trade. Driven by the availability of new micro data sets and innovative theoretical models, it focuses on the level of firms, products, and stages of production rather than on countries and industries. It addresses such questions as why only a small proportion of firms in a given industry export and why an even smaller proportion invest abroad; why exporters tend to be more productive than nonexporters; why almost one-third of international trade takes place between units of the same firm and why as much as two-thirds involves multinational firms as exporter, importer, or both; and why international trade may have been the most important driver of organizational changes in the corporation that have been taking place in the last decade.

Until a few years ago, models of international trade did not recognize the heterogeneity of firms and exporters, and could not provide good explanations of international production networks. Now such models exist and are explored in this volume.

Global trade is of vital interest to citizens as well as policymakers, yet it is widely misunderstood. This compact exposition of the market forces underlying international commerce addresses both of these concerned groups, as well as the needs of students and scholars. Although it contains no equations, it is almost mathematical in its elegance, precision, and power of expression.

Understanding Global Trade provides a thorough explanation of what shapes the international organization of production and distribution and the resulting trade flows. It reviews the evolution of knowledge in this field from Adam Smith to today as a process of theoretical modeling, accumulation of new empirical data, and then revision of analytical frameworks in response to evidence and changing circumstances. It explains the sources of comparative advantage and how they lead countries to specialize in making products which they then sell to other countries. While foreign trade contributes to the overall welfare of a nation, it also creates winners and losers, and Helpman describes mechanisms through which trade affects a country's income distribution.

The book provides a clear and original account of the revolutions in trade theory of the 1980s and the most recent decade. It shows how scholars shifted the analysis of trade flows from the sectoral level to the business-firm level, to elucidate the growing roles of multinational corporations, offshoring, and outsourcing in the international division of labor. Helpman’s explanation of the latest research findings is essential for an understanding of world affairs.

Between 1870 and 1945, advances in communication and transportation simultaneously expanded and shrank the world. New technologies erased distance and accelerated the global exchange of people, products, and ideas on an unprecedented scale. A World Connecting focuses on an era when growing global interconnectedness inspired new ambitions but also stoked anxieties and rivalries that would erupt in two world wars—the most destructive conflicts in human history.

In five interpretive essays, distinguished historians Emily S. Rosenberg, Charles S. Maier, Tony Ballantyne, Antoinette Burton, Dirk Hoerder, Steven C. Topik, and Allen Wells illuminate the tensions that emerged from intensifying interconnectedness and attempts to control and shape the effects of sweeping change. Each essay provides an overview of a particular theme: modern state-building; imperial encounters; migration; commodity chains; and transnational social and cultural networks. With the emergence of modern statehood and the fluctuating fate of empires came efforts to define and police territorial borders. As people, products, capital, technologies, and affiliations flowed across uneasily bounded spaces, the world both came together and fell apart in unexpected, often horrifying, and sometimes liberating ways.

A World Connecting goes beyond nations, empires, and world wars to capture the era’s defining feature: the profound and disruptive shift toward an ever more rapidly integrating world.