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The Art of Economic Persuasion
Positive Incentives and German Economic Diplomacy
Patricia A. Davis
University of Michigan Press, 2000
Much has been written about a state's use of the threat of military force or economic sanctions to change the behavior of another state. Less is known about the use of positive measures such as economic assistance and investment as a means of influence. This study looks at the ways in which government officials use economic instruments for foreign policy gains. More specifically, it examines the means by which a government can enhance its efforts at economic persuasion by inducing domestic business trade and investing in the target nation. The author demonstrates the domestic conditions under which the state can use commercial economic incentives to achieve foreign policy goals, especially where these incentives are meant to induce cooperative behavior from another state. Using the process of German-Polish reconciliation in the 1970s and 1980s as a case study, The Art of Economic Persuasion, argues that complex institutional links between the German government and the German business community enabled the government to encourage commercial relations with Poland, which supported the government's policies.
With singular access to archives of business associations in Germany as well as numerous interviews with German and Polish officials, the author carefully retraces German foreign policy towards Poland in the 1970s and 1980s.
The Art of Economic Persuasion is a theoretical addition to the literature on international political economy and international relations. It will be of interest to specialists in international relations, foreign policy, and international political economy, as well as economists, political scientists, and historians of Germany, Poland, the United States, and Cold War relations.
Patricia Davis is Assistant Professor of Government and International Studies, University of Notre Dame.
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Bloc by Bloc
How to Build a Global Enterprise for the New Regional Order
Steven Weber
Harvard University Press, 2019

At a time when globalization is taking a step backward, what’s the best way to organize a global enterprise? The key, explains political economist Steven Weber, is to prepare for a world increasingly made up of competing regions defined by their own rules and standards.

Globalization has taken a hit as trade wars and resistance to mass migrations dominate headlines. Are we returning to the old world of stand-alone nations? Political economist Steven Weber argues that we are heading toward something new. Global connectedness will not dissolve but will be defined by “regional” blocs, demarcated more by the rules and standards they follow than by territory. For leaders of firms and NGOs with global ambitions, navigating this transformation is the strategic challenge of the decade.

Not long ago, we thought the world was flattening out, offering a level playing field to organizations striving for worldwide reach. As global economic governance expanded, firms shifted operations to wherever was most efficient—designing in one country and buying, manufacturing, and selling in others. Today, the world looks bumpier, with rising protectionism, national struggles over data control, and tensions over who should set worldwide standards. Expect emerging regional blocs to be dominated by the major rule-makers: the US, China, and possibly the EU. Firms and NGOs will need to remake themselves by building complete, semi-independent organizations in each region. Every nation will choose which rule-maker it wants to align with, and it may not be the one next door. This new world has the potential to be more prosperous, Weber argues, but friction between the dynamics of geography and technology will make it more risky.

Pioneering research, creative thinking, and colorful storytelling from the frontlines of the global economy combine to make this a must-read for leaders and analysts facing tomorrow’s world.

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Capital, the State, and War
Class Conflict and Geopolitics in the Thirty Years' Crisis, 1914-1945
Alexander Anievas
University of Michigan Press, 2014

The history of the modern social sciences can be seen as a series of attempts to confront the challenges of social disorder and revolution wrought by the international expansion of capitalist social relations. In Capital, the State, and War, Alexander Anievas focuses on one particularly significant aspect of this story: the inter-societal or geo-social origins of the two world wars, and, more broadly, the confluence of factors behind the Thirty Years’ Crisis between 1914 and 1945.

Anievas presents the Thirty Years’ Crisis as a result of the development of global capitalism with all its destabilizing social and geopolitical consequences, particularly the intertwined and co-constitutive nature of imperial rivalries, social revolutions, and anti-colonial struggles. Building on the theory of “uneven and combined development,” he unites geopolitical and sociological explanations into a single framework, thereby circumventing the analytical stalemate between “primacy of domestic politics” and “primacy of foreign policy” approaches.

Anievas opens new avenues for thinking about the relations among security-military interests, the making of foreign policy, political economy and, more generally, the origins of war and the nature of modern international order.

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Capitalism, Alone
The Future of the System That Rules the World
Branko Milanovic
Harvard University Press, 2019

An Economist Book of the Year
A Financial Times Book of the Year
A Foreign Affairs Best Book of the Year
A Prospect Best Book of the Year
A ProMarket Book of the Year
An Omidyar Network “8 Storytellers Informing How We’ve been Reimagining Capitalism” Selection


“Brilliant…Poses all the important questions about our future.”
—Gordon Brown

“A scholar of inequality warns that while capitalism may have seen off rival economic systems, the survival of liberal democracies is anything but assured.”
The Economist

We are all capitalists now. For the first time in human history, the world is dominated by one economic system. At some level capitalism has triumphed because it works: it delivers prosperity and gratifies our desire for autonomy. But this comes at a moral price, pushing us to treat material success as the ultimate goal, and offers no guarantee of stability. While Western liberal capitalism creaks under the strains of inequality and excess, some are flaunting the virtues of political capitalism, exemplified by China, which may be more efficient, but is also vulnerable to corruption and social unrest.

One of the outstanding economists of his generation, Branko Milanovic mines the data to tell his ambitious and compelling story. Capitalism gets a lot wrong, he argues, but also much right—and it isn’t going away anytime soon. Our task is to improve it in the hopes that a more equitable capitalism can take hold.

“Erudite, illuminating…Engaging to read…As a virtuoso economist, Milanovic is superb when he is compiling and assessing data.”
—Robert Kuttner, New York Review of Books

“Leaves little doubt that the social contract no longer holds. Whether you live in Beijing or New York, the time for renegotiation is approaching.”
—Edward Luce, Financial Times

[more]

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Careers in International Affairs
Eighth Edition
Maria Pinto Carland and Candace Faber, Editors
Georgetown University Press, 2008

Careers in International Affairs, now in its eighth edition, is the ultimate job hunting guide for anyone hoping to work in the U.S. government, international organizations, business, or nonprofits. This thoroughly revised edition provides up-to-date descriptions and data about careers in the global workplace and how to find them—along with nearly 300 organization profiles.

In addition to a remarkably broad and deep list of organizations and contacts, Careers in International Affairs offers insight and guidance from a career counselor, a graduate student, and practitioners in the international affairs community on networking, interviewing, finding a mentor, and choosing the best graduate school.

The book also presents numerous firsthand perspectives on various career sectors from those who have found their own international niche—from young professionals to senior policymakers. It is designed to encourage international job seekers to think about what they know and what talents they have to offer, to widen their horizons and reveal all the possibilities, to help them realize that the future could hold several careers, and to remind them that it is never too early—or too late—to consider the variety of options that await them around the world.

Careers in International Affairs is published in cooperation with Georgetown University's School of Foreign Service, the oldest and largest school of international affairs in the United States.

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Careers in International Affairs
Ninth Edition
Laura E. Cressey, Barrett J. Helmer, and Jennifer E. Steffensen, Editors
Georgetown University Press, 2014

This is the essential resource and job-hunting guide for all those interested in international careers in the US government, multinational corporations, banks, consulting companies, international and nongovernmental organizations, the media, think tanks, universities, and more. Careers in International Affairs, now in its ninth edition, provides up-to-date insights about the range of possibilities in the global workplace and tips on how to get these jobs—along with profiles of hundreds of important employers.

This helpful guide includes a directory of more than 250 organizations who offer internationally oriented jobs such as the US Department of State, CIA, United Nations, World Bank, J.P. Morgan Chase, Google, McKinsey & Company, and dozens more. The book also includes insightful testimonies about what these careers are really like from both junior and senior professionals in these fields. Careers in International Affairs gives advice on academic paths that will prepare students for demanding international careers and guidance on how to write resumes, interview for jobs, network, and maintain their online profile.

Published in cooperation with the Edmund A. Walsh School of Foreign Service at Georgetown University, the oldest school of international affairs in the United States, Careers in International Affairs will encourage job seekers to consider their goals and talents, widen their horizons to consider new possibilities, and help them realize that their future can hold several careers, while reminding all that it is never too early—or too late—to consider the realm of opportunities that await them throughout the world.

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The Challenge of Hegemony
Grand Strategy, Trade, and Domestic Politics
Steven E. Lobell
University of Michigan Press, 2005
The Challenge of Hegemony explains how international forces subtly influence foreign, economic, and security policies of declining world powers. Using detail-rich case studies, this sweeping study integrates domestic and systemic policy to explain these countries' grand strategies. The book concludes with a discussion of the implications for the future of American foreign policy.

"His conceptually rigorous and tightly reasoned study . . . reminds us that power is never value neutral but organizes commercial systems in liberal or imperial terms."
---Perspectives on Politics

"Lobell's book is tightly written, nicely argued and thoroughly researched to a fault. He seems to delight in historical detail. The complexity of his approach is refreshing."
---International Affairs

"The Challenge of Hegemony is a pleasure to read. It is both theoretically sophisticated and empirically rich."
---International Studies Review

"The Challenge of Hegemony offers a compelling reinterpretation of key historical cases and provides wise guidance as to how the United States should wield its power today."
--Charles A. Kupchan, Council on Foreign Relations

"Lobell demonstrates clearly how the international environment confronting great powers interacts with their domestic political coalitions to produce different grand strategies. Through a masterful sweep of history, Lobell shows us the alternative trajectories before the United States today."
--David A. Lake, University of California, San Diego
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Challenges to Globalization
Analyzing the Economics
Edited by Robert E. Baldwin and L. Alan Winters
University of Chicago Press, 2004
People passionately disagree about the nature of the globalization process. The failure of both the 1999 and 2003 World Trade Organization's (WTO) ministerial conferences in Seattle and Cancun, respectively, have highlighted the tensions among official, international organizations like the WTO, the International Monetary Fund (IMF), the World Bank, nongovernmental and private sector organizations, and some developing country governments. These tensions are commonly attributed to longstanding disagreements over such issues as labor rights, environmental standards, and tariff-cutting rules. In addition, developing countries are increasingly resentful of the burdens of adjustment placed on them that they argue are not matched by commensurate commitments from developed countries.

Challenges to Globalization evaluates the arguments of pro-globalists and anti-globalists regarding issues such as globalization's relationship to democracy, its impact on the environment and on labor markets including the brain drain, sweat shop labor, wage levels, and changes in production processes, and the associated expansion of trade and its effects on prices. Baldwin, Winters, and the contributors to this volume look at multinational firms, foreign investment, and mergers and acquisitions and present surprising findings that often run counter to the claim that multinational firms primarily seek countries with low wage labor. The book closes with papers on financial opening and on the relationship between international economic policies and national economic growth rates.
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Chaos and Governance in the Modern World System
Giovanni Arrighi
University of Minnesota Press, 1999

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Collected Essays on Economic Theory
John Hicks
Harvard University Press, 1983

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Collected Papers
Lloyd A. Metzler
Harvard University Press, 1973

A pioneer in bringing mathematical methods into everyday use in economics, Lloyd A. Metzler is well known for his adroit use of formal tools and exceptionally readable prose style which have provided a generation of economists with clear solutions to difficult analytical problems. The papers collected in this volume, including four previously unpublished, retain a freshness and clarity that is readily recognized by today's students of economics.

Over the years Mr. Metzler's contributions to economic theory have ranged widely over the fields of international economics, macroeconomic theory, business fluctuations, and the mathematical theory of general equilibrium. Most notably, he carries Lord Keynes's theories further, working out the essential properties of the foreign-trade multiplier. His discussions of tariff repercussions, capital transfers, and stability conditions in the foreign-exchange market are of vital importance to today's dramatic efforts to achieve economic stability throughout the world.

Collected Papers, enhanced by many tables and figures and clearly indicative of the author's far-reaching economic mind, is organized into four sections: The Theory of International Trade; Money, Interest, and Prices; Business Cycles and Economic Fluctuations; and Mathematical Economics and Statistics. Two of the articles in this volume were part of the author's doctoral thesis which was awarded the David A. Wells Prize at Harvard University.

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Conflict, Security, Foreign Policy, and International Political Economy
Past Paths and Future Directions in International Studies
Michael Brecher and Frank P. Harvey, editors
University of Michigan Press, 2002
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Coping with Crisis
Government Reactions to the Great Recession
Nancy Bermeo
Russell Sage Foundation, 2013
The financial crisis that erupted on Wall Street in 2008 quickly cascaded throughout much of the advanced industrial world. Facing the specter of another Great Depression, policymakers across the globe responded in sharply different ways to avert an economic collapse. Why did the response to the crisis—and its impact on individual countries—vary so greatly among interdependent economies? How did political factors like public opinion and domestic interest groups shape policymaking in this moment of economic distress? Coping with Crisis offers a rigorous analysis of the choices societies made as a devastating global economic crisis unfolded. With an ambitiously broad range of inquiry, Coping with Crisis examines the interaction between international and domestic politics to shed new light on the inner workings of democratic politics. The volume opens with an engaging overview of the global crisis and the role played by international bodies like the G-20 and the WTO. In his survey of international initiatives in response to the recession, Eric Helleiner emphasizes the limits of multilateral crisis management, finding that domestic pressures were more important in reorienting fiscal policy. He also argues that unilateral decisions by national governments to hold large dollar reserves played the key role in preventing a dollar crisis, which would have considerably worsened the downturn. David R. Cameron discusses the fiscal responses of the European Union and its member states. He suggests that a profound coordination problem involving fiscal and economic policy impeded the E.U.'s ability to respond in a timely and effective manner. The volume also features several case studies and country comparisons. Nolan McCarty assesses the performance of the American political system during the crisis. He argues that the downturn did little to dampen elite polarization in the U.S.; divisions within the Democratic Party—as well as the influence of the financial sector—narrowed the range of policy options available to fight the crisis. Ben W. Ansell examines how fluctuations in housing prices in 30 developed countries affected the policy preferences of both citizens and political parties. His evidence shows that as housing prices increased, homeowners expressed preferences for both lower taxes and a smaller safety net. As more citizens supplement their day-to-day income with assets like stocks and housing, Ansell's research reveals a potentially significant trend in the formation of public opinion. Five years on, the prospects for a prolonged slump in economic activity remain high, and the policy choices going forward are contentious. But the policy changes made between 2007 and 2010 will likely constrain any new initiatives in the future. Coping with Crisis offers unmatched analysis of the decisions made in the developed world during this critical period. It is an essential read for scholars of comparative politics and anyone interested in a comprehensive account of the new international politics of austerity.
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The Creation and Destruction of Value
The Globalization Cycle
Harold James
Harvard University Press, 2012

Harold James examines the vulnerability and fragility of processes of globalization, both historically and in the present. This book applies lessons from past breakdowns of globalization—above all in the Great Depression—to show how financial crises provoke backlashes against global integration: against the mobility of capital or goods, but also against flows of migration. By a parallel examination of the financial panics of 1929 and 1931 as well as that of 2008, he shows how banking and monetary collapses suddenly and radically alter the rules of engagement for every other type of economic activity.

Increased calls for state action in countercyclical fiscal policy bring demands for trade protection. In the open economy of the twenty-first century, such calls are only viable in very large states—probably only in the United States and China. By contrast, in smaller countries demand trickles out of the national container, creating jobs in other countries. The international community is thus paralyzed, and international institutions are challenged by conflicts of interest. The book shows the looming psychological and material consequences of an interconnected world for people and the institutions they create.

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The Cultures of Globalization
Fredric Jameson and Masao Miyoshi, eds.
Duke University Press, 1998
A pervasive force that evades easy analysis, globalization has come to represent the export and import of culture, the speed and intensity of which has increased to unprecedented levels in recent years. The Cultures of Globalization presents an international panel of intellectuals who consider the process of globalization as it concerns the transformation of the economic into the cultural and vice versa; the rise of consumer culture around the world; the production and cancellation of forms of subjectivity; and the challenges it presents to national identity, local culture, and traditional forms of everyday life.
Discussing overlapping themes of transnational consequence, the contributors to this volume describe how the global character of technology, communication networks, consumer culture, intellectual discourse, the arts, and mass entertainment have all been affected by recent worldwide trends. Appropriate to such diversity of material, the authors approach their topics from a variety of theoretical perspectives, including those of linguistics, sociology, economics, anthropology, and the law. Essays examine such topics as free trade, capitalism, the North and South, Eurocentrism, language migration, art and cinema, social fragmentation, sovereignty and nationhood, higher education, environmental justice, wealth and poverty, transnational corporations, and global culture. Bridging the spheres of economic, political, and cultural inquiry, The Cultures of Globalization offers crucial insights into many of the most significant changes occurring in today’s world.

Contributors. Noam Chomsky, Ioan Davies, Manthia Diawara, Enrique Dussel, David Harvey, Sherif Hetata, Fredric Jameson, Geeta Kapur, Liu Kang, Joan Martinez-Alier, Masao Miyoshi, Walter D. Mignolo, Alberto Moreiras, Paik Nak-chung, Leslie Sklair, Subramani, Barbara Trent

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Delivering on Promises
The Domestic Politics of Compliance in International Courts
Lauren J. Peritz
University of Chicago Press, 2022
A timely investigation into the conditions that make international agreements—and the institutions that enforce them—vulnerable.

When do international institutions effectively promote economic cooperation among countries and help them resolve conflict? Although the international system lacks any central governing authority, states have created rules, particularly around international economic relations, and empowered international tribunals to enforce those rules. Just how successful are these institutions? In Delivering on Promises Lauren J. Peritz demonstrates that these international courts do indeed deliver results—but they are only effective under certain conditions. 

As Peritz shows, states are less likely to comply with international rules and international court decisions when domestic industries have the political ability to obstruct compliance in particular cases. The author evaluates the argument with an extensive empirical analysis that traces the domestic politics of compliance with the decisions of two international economic courts: the World Trade Organization’s dispute settlement mechanism and the Court of Justice of the European Union. At a time when international agreements are under attack, this book sheds light on the complex relationship between domestic politics and international economic cooperation, offering detailed evidence that international economic courts are effective at promoting interstate cooperation.
 
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Development and Crisis of the Welfare State
Parties and Policies in Global Markets
Evelyne Huber and John D. Stephens
University of Chicago Press, 2001
Evelyne Huber and John D. Stephens offer the most systematic examination to date of the origins, character, effects, and prospects of generous welfare states in advanced industrial democracies in the post—World War II era. They demonstrate that prolonged government by different parties results in markedly different welfare states, with strong differences in levels of poverty and inequality. Combining quantitative studies with historical qualitative research, the authors look closely at nine countries that achieved high degrees of social protection through different types of welfare regimes: social democratic states, Christian democratic states, and "wage earner" states. In their analysis, the authors emphasize the distribution of influence between political parties and labor movements, and also focus on the underestimated importance of gender as a basis for mobilization.

Building on their previous research, Huber and Stephens show how high wages and generous welfare states are still possible in an age of globalization and trade competition.
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The Economic Structure of International Law
Joel P. Trachtman
Harvard University Press, 2008

The Economic Structure of International Law presents a rationalist analysis of the structure of international law. It employs social scientific techniques to develop an understanding of the role of law in international society. In doing so, it delves into the question of compliance and reveals the real-world circumstances under which states might adhere to or violate international law.

Joel P. Trachtman explores such topics as treaty-making and jurisdiction; the rise, stability, and efficiency of custom; the establishment of international organizations; and the structure and role of international legal dispute settlement. At the core of the book lies the question of the allocation of legal power to states. The Economic Structure of International Law presents policymakers and scholars with an over-arching analytical model of international law, one that demonstrates the potential of international law, but also explains how policymakers should choose among different international legal structures.

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The End of Globalization
Lessons from the Great Depression
Harold James
Harvard University Press, 2002

"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.

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Fishing a Borderless Sea
Environmental Territorialism in the North Atlantic, 1818-1910
Brian J. Payne
Michigan State University Press, 2010

Over the centuries, processing and distribution of products from land and sea has stimulated the growth of a global economy. In the broad sweep of world history, it may be hard to imagine a place for the meager little herring baitfish. Yet, as Brian Payne adeptly recounts, the baitfish trade was hotly contested in the Anglo-American world throughout the nineteenth century. Politicians called for wars, navies were dispatched with guns at the ready, vessels were seized at sea, and violence erupted at sea.
     Yet, the battle over baitfish was not simply a diplomatic or political affair. Fishermen from hundreds of villages along the coastline of Atlantic Canada and New England played essential roles in the construction of legal authority that granted or denied access to these profitable bait fisheries. 
     Fishing a Borderless Sea illustrates how everyday laborers created a complex system of environmental stewardship that enabled them to control the local resources while also allowing them access into the larger global economy.

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Global Governance in Question
Empire, Class and the New Common Sense in Managing North-South Relations
Susanne Soederberg
Pluto Press, 2006
"Global governance is the latest buzzword. Now comes a study that brings clarity and critical analysis to this ill-defined topic."
William I. Robinson, University of California-Santa Barbara

"[An] acute and revealing examination of the economic difficulties facing the American empire."
Ronnie D. Lipschutz, Professor of Politics, University of California, Santa Cruz

"Indispensable for students of international polical economy and a must for political activists." Professor Elmar Altvater, Department of Political Science, Free University, Berlin

Like many buzzwords, 'global governance' is as poorly understood as it is popular. In contrast to most mainstream accounts, this book examines global economic governance as an integral moment of contemporary capitalism -- presenting a critical insight into its real nature and the interests that it serves.

This book begins by asking what has not been discussed in the mainstream debates and why. Drawing on a Marxist perspective, Soederberg explores neglected issues including transnational debt and the increasingly coercive nature of US aid to so-called Œfailed states'. Soederberg argues that mainstream understandings fail to engage with the wider contradictions that characterise global capitalism. In consequence, there is no explanation of the changing nature of American empire and capitalist power in the world. Furthermore, Soederberg argues that global governance acts to normalise and legitimise increasingly austere forms of capitalist expansion, which may be regarded as a deepening and broadening of neoliberalism.

Susanne Soederberg is a Canada Research Chair in Global Political Economy and Associate Professor in International Development Studies at Queen's University, Kingston, Canada. She is author of The Politics of the New International Financial Architecture: Reimposing Neoliberal Domination in the Global South (Zed, 2005).
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Global Interdependence
The World after 1945
Akira Iriye
Harvard University Press, 2014

Global Interdependence provides a new account of world history from the end of World War II to the present, an era when transnational communities began to challenge the long domination of the nation-state. In this single-volume survey, leading scholars elucidate the political, economic, cultural, and environmental forces that have shaped the planet in the past sixty years.

Offering fresh insight into international politics since 1945, Wilfried Loth examines how miscalculations by both the United States and Soviet Union brought about a Cold War conflict that was not necessarily inevitable. Thomas Zeiler explains how American free-market principles spurred the creation of an entirely new economic order—a global system in which goods and money flowed across national borders at an unprecedented rate, fueling growth for some nations while also creating inequalities in large parts of the Middle East, Latin America, and Africa. From an environmental viewpoint, John McNeill and Peter Engelke contend that humanity has entered a new epoch, the Anthropocene era, in which massive industrialization and population growth have become the most powerful influences upon global ecology. Petra Goedde analyzes how globalization has impacted indigenous cultures and questions the extent to which a generic culture has erased distinctiveness and authenticity. She shows how, paradoxically, the more cultures blended, the more diversified they became as well.

Combining these different perspectives, volume editor Akira Iriye presents a model of transnational historiography in which individuals and groups enter history not primarily as citizens of a country but as migrants, tourists, artists, and missionaries—actors who create networks that transcend traditional geopolitical boundaries.

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The Global Political Economy of Israel
Jonathan Nitzan and Shimshon Bichler
Pluto Press, 2002

Over the past century, Israel has been transformed from an agricultural colony, to a welfare-warfare state, to a globally integrated "market economy" characterised by great income disparities. What lies behind this transformation? In order to understand capitalist development, argue Bichler and Nitzan, we need to break the artificial separation between "economics" and "politics", and think of accumulation itself as "capitalisation of power". Applying this concept to Israel, they reveal the big picture that never makes it to the news. Diverse processes – such as regional conflicts and energy crises, ruling class formation and dominant ideology, militarism and dependency, inflation and recession, the politics of high-technology and the transnationalisation of ownership – are all woven into a single story. The result is a fascinating account of one of the world’s most volatile regions.

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Global Value Chains
Linking Local Producers from Developing Countries to International Markets
Edited by Meine Pieter van Dijk and Jacques Trienekens
Amsterdam University Press, 2012
This book contains seven case studies of global value chains as well as a discussion of the theory behind these chains. Specifically, it examines the impact of global value chains on local upgrading strategies, as well as the role of governments, buyers, donors, and civil society in influencing value chains and the importance of partnerships as mechanisms for value chain upgrading. An impressive group of eminent scholars deliver a thorough examination of this important economic and political phenomenon. 
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Globalization and Its Discontents
The Rise of Postmodern Socialisms
Edited by Roger Burbach, Boris Kagarlitsky, and Orlando Nunez
Pluto Press, 1997

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Globalization and Poverty
Edited by Ann Harrison
University of Chicago Press, 2007

Over the past two decades, the percentage of the world’s population living on less than a dollar a day has been cut in half. How much of that improvement is because of—or in spite of—globalization? While anti-globalization activists mount loud critiques and the media report breathlessly on globalization’s perils and promises, economists have largely remained silent, in part because of an entrenched institutional divide between those who study poverty and those who study trade and finance. 

Globalization and Poverty bridges that gap, bringing together experts on both international trade and poverty to provide a detailed view of the effects of globalization on the poor in developing nations, answering such questions as: Do lower import tariffs improve the lives of the poor? Has increased financial integration led to more or less poverty? How have the poor fared during various currency crises? Does food aid hurt or help the poor?

Poverty, the contributors show here, has been used as a popular and convenient catchphrase by parties on both sides of the globalization debate to further their respective arguments. Globalization and Poverty provides the more nuanced understanding necessary to move that debate beyond the slogans.

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Globalization in an Age of Crisis
Multilateral Economic Cooperation in the Twenty-First Century
Edited by Robert C. Feenstra and Alan M. Taylor
University of Chicago Press, 2013
Along with its painful economic costs, the financial crisis of 2008 raised concerns over the future of international policy making. As in recessions past, new policy initiatives emerged, approaches that placed greater importance on protecting national interests than promoting international economic cooperation. Whether in fiscal or monetary policies, the control of currencies and capital flows, the regulation of finance, or the implementation of protectionist policies and barriers to trade, there has been an almost worldwide trend toward the prioritizing of national economic security. But what are the underlying economic causes of this trend, and what can economic research reveal about the possible consequences?

Prompted by these questions, Robert C. Feenstra and Alan M. Taylor have brought together top researchers with policy makers and practitioners whose contributions consider the ways in which the global economic order might address the challenges of globalization that have arisen over the last two decades and that have been intensified by the recent crisis. Chapters in this volume consider the critical linkages between issues, including exchange rates, global imbalances, and financial regulation, and plumb the political and economic outcomes of past policies for what they might tell us about the future of the global economic cooperation.

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Globalization in Historical Perspective
Edited by Michael D. Bordo, Alan M. Taylor, and Jeffrey G. Williamson
University of Chicago Press, 2003
As awareness of the process of globalization grows and the study of its effects becomes increasingly important to governments and businesses (as well as to a sizable opposition), the need for historical understanding also increases. Despite the importance of the topic, few attempts have been made to present a long-term economic analysis of the phenomenon, one that frames the issue by examining its place in the long history of international integration.

This volume collects eleven papers doing exactly that and more. The first group of essays explores how the process of globalization can be measured in terms of the long-term integration of different markets-from the markets for goods and commodities to those for labor and capital, and from the sixteenth century to the present. The second set of contributions places this knowledge in a wider context, examining some of the trends and questions that have emerged as markets converge and diverge: the roles of technology and geography are both considered, along with the controversial issues of globalization's effects on inequality and social justice and the roles of political institutions in responding to them. The final group of essays addresses the international financial systems that play such a large part in guiding the process of globalization, considering the influence of exchange rate regimes, financial development, financial crises, and the architecture of the international financial system itself.

This volume reveals a much larger picture of the process of globalization, one that stretches from the establishment of a global economic system during the nineteenth century through the disruptions of two world wars and the Great Depression into the present day. The keen analysis, insight, and wisdom in this volume will have something to offer a wide range of readers interested in this important issue.
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The Gloss of Harmony
The Politics of Policy-Making in Multilateral Organisations
Birgit Muller
Pluto Press, 2013

The Gloss of Harmony focuses on agencies of the United Nations, examining the paradox of entrusting relatively powerless and underfunded organisations with the responsibility of tackling some of the essential problems of our time. The book shows how international organisations shape the world in often unexpected and unpredictable ways.

The authors of this collection look not only at the official objectives and unintended consequences of international governance but also at how international organisations involve collective and individual actors in policy making, absorb critique, attempt to neutralise political conflict and create new political fields with local actors and national governments.

The Gloss of Harmony identifies the micro-social processes and complexities within multilateral organisations which have, up to now, been largely invisible. This book will have wide appeal not only to students and academics in anthropology, business studies and sociology but also to all practitioners concerned with international governance.

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The Great Depression
An International Disaster of Perverse Economic Policies
Thomas E. Hall and J. David Ferguson
University of Michigan Press, 1998
The Great Depression was the worst economic catastrophe in modern history. Not only did it cause massive worldwide unemployment, but it also led to the rise of Adolf Hitler in Germany, World War II in Europe, and the tragic deaths of tens of millions of people. This book describes the sequence of policy errors committed by powerful, well-meaning people in several countries, which, in combination with the gold standard in place at the time, caused the disaster. In addition, it details attempts to reduce unemployment in the United States by Franklin Roosevelt's New Deal, and in Germany by Hitler's National Socialist economic policies.
A comprehensive economic and historical explanation of the events pertaining to the Depression, this book begins by describing the economic setting in the major industrialized countries during the 1920s and the gold standard that linked theory economies together. It then discusses the triggering event that started the economic decline--the Federal Reserve's credit tightening in reaction to perceived overspeculation in the U.S. stock market. The policy bungling that transformed the recession into the Great Depression is detailed: Smoot Hawley, the Federal Reserve's disastrous adherence to the real bills doctrine, and Hoover's 1932 tax hike. This is followed by a detailed description of the New Deal's shortcomings in trying to end the Depression, along with a discussion of the National Socialist economic programs in Germany. Finally, the factors that ended the Depression are examined.
This book will appeal to economists, historians, and those interested in business conditions who would like to know more about the causes and consequences of the Great Depression. It will be particularly useful as a supplementary text in economic history courses.
Thomas E. Hall and J. David Ferguson are both Professors of Economics, Miami University.
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Hanging Together
Cooperation and Conflict in the Seven-Power Summits
Robert Putnam
Harvard University Press, 1984

For nearly a decade the leaders of the seven major industrial countries—the United States, Japan, Germany, France, Britain, Italy, and Canada—have met annually to discuss international economic and political issues. Regular summitry of this sort is virtually unprecedented in modern diplomacy. Proponents see the Western summits as providing collective leadership that is vital in a turbulent world, while critics dismiss summitry as distracting and even damaging to political and economic stability.

Hanging Together charts the modern dilemma between economic interdependence and national sovereignty. It assesses the history, decisions, successes, and failures of the seven-power summits from Rambouillet in 1975 to the 1983 meeting at Williamsburg, and looks forward to the 1984 summit in London. The authors show how the growing importance of international commerce and finance has caused national and international politics to become entangled, and how national borders have become more permeable. Born in an era of waning American hegemony, the summits reveal the tension between American leadership and collective Western management of the world economy. The authors also trace the struggles of heads of state to balance the conflicting imperatives of personal authority and bureaucratic expertise. Because summits involve the power and prestige of each country's highest authorities, summitry reveals in concentrated form how these conflicts are expressed and managed.

As a blend of contemporary history and political economy, Hanging Together demonstrates that summits are not isolated annual encounters, but part of a continuous process of international and domestic negotiation about the most important and controversial issues facing all governments today.

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Hanging Together
Cooperation and Conflict in the Seven-Power Summits, Revised and Enlarged Edition
Robert Putnam and Nicholas Bayne
Harvard University Press, 1987

For nearly a decade the leaders of the seven major industrial countries—the United States, Japan, Germany, France, Britain, Italy, and Canada—have met annually to discuss international economic and political issues. Regular summitry of this sort is virtually unprecedented in modern diplomacy. Proponents see the Western summits as providing collective leadership that is vital in a turbulent world, while critics dismiss summitry as distracting and even damaging to political and economic stability.

Hanging Together charts the modern dilemma between economic interdependence and national sovereignty. It assesses the history, decisions, successes, and failures of the seven-power summits from Rambouillet in 1975 to the 1983 meeting at Williamsburg, and looks forward to the 1984 summit in London. The authors show how the growing importance of international commerce and finance has caused national and international politics to become entangled, and how national borders have become more permeable. Born in an era of waning American hegemony, the summits reveal the tension between American leadership and collective Western management of the world economy. The authors also trace the struggles of heads of state to balance the conflicting imperatives of personal authority and bureaucratic expertise. Because summits involve the power and prestige of each country's highest authorities, summitry reveals in concentrated form how these conflicts are expressed and managed.

As a blend of contemporary history and political economy, Hanging Together demonstrates that summits are not isolated annual encounters, but part of a continuous process of international and domestic negotiation about the most important and controversial issues facing all governments today.

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International Aspects of Fiscal Policies
Edited by Jacob A. Frenkel
University of Chicago Press, 1988
This volume brings together nine papers from a conference on international macroeconomics sponsored by the NBER in 1985. International economists as well as graduate students in the fields of global monetary economics, finance, and macroeconomics will find this an outstanding contribution to current research. It includes two commentaries for each paper, written by experts in the field, and Frenkel's detailed introduction, which serves as a reader's guide to the arguments made, the models employed, and the issues raised by each contributor.

The studies analyze national fiscal policies within the context of the international economic order. Malcolm D. Knight and Paul R. Masson use an empirical model to show that fiscal changes in recent years in the United States, West Germany, and Japan have caused major disturbances in net savings and investment flows. Linda S. Kole uses a two-country simulation model to examine the effects of a large nation's expansion on exchange rates, interest rates, and the balance of payments. In other studies, Warwick J. McKibbin and Jeffrey D. Sachs discuss the influences of different currency regimes on the international transmission of inflation; Kent P. Kimbrough analyzes the interaction between optimal tax policies and international trade; Sweder van Wijnbergen investigates the interrelation of fiscal policies, trade intervention, and world interest rates; and Willem H. Buiter uses an analytical model to look at fiscal interdependence and optimal policy design. David Backus, Michael Devereux, and Douglas Purvis develop a theoretical model to investigate effects of different fiscal policies in an open economy. Alan C. Stockman looks at the influence of policy anticipation in the private sector, while Lawrence H. Summers shows the effects of differential tax policy on international competitiveness.
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International Development Policies
Perspectives for Industrial Countries
Sidney Dell
Duke University Press, 1991
In this survey of the field of international development policies, Sidney Dell challenges conventional wisdom and provides a rationale for a more cooperative and constructive approach to world development. Assessing the management of the global economy by the major economic powers and the policies that caused the world economy to lose momentum in the 1970s and 1980s, Dell directs his study to industrial countries which must, he claims, take responsibility for creating an environment favorable to Third World development.
Tracing the fundamental changes of the last forty years in international development policies toward the Third World, Dell details the transformation from a policy of collective responsibility on the part of the international community to the current status, in which the commitment of governments of industrial countries to Third World development is greatly diluted. He examines the growing conflicts in world trade and analyzes the failure of the international economic community to develop a long-run strategy for dealing with the world debt crisis.
Other topics addressed include the future of the international monetary system, the viability of small countries, strategies for development of basic needs, and the prospects for foreign private investment.
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International Economic Cooperation
Edited by Martin Feldstein
University of Chicago Press, 1988
"A readable, balanced, and provocative view of the prospects for fruitful international economic cooperation. The papers are realistic: each discusses the difficulties involved in reaching cooperative solutions or procedures as well as the benefits of doing so. The discussion among the conference participants is lively, interesting, and insightful."--William H. Branson, Princeton University
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International Economic Transactions
Issues in Measurement and Empirical Research
Edited by Peter Hooper and J. David Richardson
University of Chicago Press, 1991
How the government arrives at its official economic statistics deeply influences the lives of every American. Social Security payments and even some wages are linked to import prices through official inflation rates; special measures of national product are necessary for valid comparisons of vital social indicators such as relative standards of living and relative poverty. Poor information can result in poor policies. And yet, federal statistics agencies have been crippled by serious budget cuts—and more cuts may lie ahead.

Questioning the quality of current data and analytical procedures, this ambitious volume proposes innovative research designs and methods for data enhancement, and offers new data on trade prices and service transactions for future studies. Leading researchers address the measurement of international trade flows and prices, including the debate over measurement of computer prices and national productivity; compare international levels of manufacturing output; and assess the extent to which the United States has fallen into debt to the rest of the world.
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International Policy Coordination and Exchange Rate Fluctuations
Edited by William H. Branson, Jacob A. Frenkel, and Morris Goldstein
University of Chicago Press, 1990
Since the five largest industrial democracies concluded the Plaza Agreement in 1985, the theory and practice of international economic policy coordination has become the subject of spirited academic and public-policy debate. While some view policy coordination as crucial for the construction of an improved international monetary system, others fear that it risks delaying or weakening the implementation of macroeconomic and structural policies.

In these papers and comments, prominent international economists consider past and present interpretations of the meaning of international policy coordination; conditions necessary for coordination to be beneficial both to the direct participants and the global economy; influential factors for the quantitative impact of coordination; obstacles to coordination; the most—and least—effective methods of coordination; and future directions of the coordination process, including processes associated with greater fixity of exchange rates.

These studies will be readily accessible to policymakers, while offering sophisticated analyses to interested scholars of the global economy.
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Jealousy of Trade
International Competition and the Nation-State in Historical Perspective
Istvan Hont
Harvard University Press, 2005
This collection explores eighteenth-century theories of international market competition that continue to be relevant for the twenty-first century. “Jealousy of trade” refers to a particular conjunction between politics and the economy that emerged when success in international trade became a matter of the military and political survival of nations. Today, it would be called “economic nationalism,” and in this book Istvan Hont connects the commercial politics of nationalism and globalization in the eighteenth century to theories of commercial society and Enlightenment ideas of the economic limits of politics.The book begins with an analysis of how the notion of “commerce” was added to Hobbes’s “state of nature” by Samuel Pufendorf. Hont then considers British neo-Machiavellian political economy after the Glorious Revolution. From there he moves to a novel interpretation of the political economy of the Scottish Enlightenment, particularly of David Hume and Adam Smith, concluding with a conceptual history of nation-state and nationalism in the French Revolution.Jealousy of Trade combines political theory with intellectual history, illuminating the past but also considering the challenges of today.
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The Kennedy Round in American Trade Policy
The Twilight of the GATT?
John W. Evans
Harvard University Press, 1971

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Leading Questions
How Hegemony Affects the International Political Economy
Robert Pahre
University of Michigan Press, 1999
Leadership has long been an important subject in the study of international economic relations. Many scholars give American leadership credit for strong economic growth in western Europe and Japan after World War II. Other scholars have accused leading nations of using their power to the detriment of foreign countries. For example, it is often argued that a failure of both British and American leadership was a cause of the Great Depression of the 1930s.
In Leading Questions, Robert Pahre develops a series of formal models to determine under what conditions leadership will be beneficial or harmful for the international political economy. He begins with a simple model of collective action and then adds leadership, security concerns, cooperation, and multilateral regimes to this basic model. He tests each model against a different historical period between 1815 and 1967.
Pahre's findings challenge conventional wisdom on international leadership. He finds that a leading state harms others when it has many allies but is good for the international political economy when it lacks allies. Leaders are less likely to engage in international cooperation than are other states, but having a leader in the system makes cooperation among follower states more likely. Cooperation by others may cause the leader to join a system of multilateral cooperation.
Pahre presents the technical material in an accessible style. By challenging the conventional interpretations of political economy in several historical periods, Leading Questions will be of interest not only to political scientists but also to economists and historians.
Robert Pahre is Associate Professor of Political Science, University of Illinois at Urbana-Champaign.
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The Liberal Illusion
Does Trade Promote Peace?
Katherine Barbieri
University of Michigan Press, 2005
"A very important and long-awaited major contribution to the debate . . . Her work cannot be ignored."
--Nils Petter Gleditsch, Journal of Peace Research

"Barbieri builds on a solid foundation of work on trade and conflict and specifies the conditions under which trade reduces and increases conflict. . . . The bottom line is that this is an important book in the study of trade and conflict because of its comprehensive approach."
--Kathy L. Powers, Perspectives on Politics

"Barbieri's analysis reveals the fundamental and intellectual weaknesses of the various arguments on this topic. [A] solid and timely contribution to the literature"
--Choice


The Liberal Illusion sheds light on an increasingly important question in international relations scholarship and the domain of policy making-whether international trade promotes peace. By examining a broad range of theories about trade's impact on interstate relations and undertaking a set of empirical analyses of the trade-conflict puzzle, Katherine Barbieri provides a comprehensive assessment of the liberal view that trade promotes peace. Barbieri's stunning conclusions depart from conventional wisdom in international relations. Consequently, The Liberal Illusion serves as an important counterargument and a warning call to policymakers who rely upon trade-based strategies to promote peace, strategies that appear to offer little hope of achieving their goals.
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New York, Chicago, Los Angeles
America’s Global Cities
Janet Abu-Lughod
University of Minnesota Press, 2001
A renowned scholar compares America's three global cities. "Abu-Lughod nicely characterizes the distinctive feel and experience of the three cities. She works her way through the history, the statistics, and the economic forces, but she ends up on the sidewalk, marveling at the complexity that has been created by an extraordinary history, and enamored of it. What is most urgent about her book is not so much her analysis of the urban condition as her devotion to cities. The city has been under attack by theorists and sprawlers for a long time now, but this fine book provides necessary examples of how the city may be intelligently loved." --Nathan Glazer in The New Republic "In a pathbreaking analysis, Abu-Lughod demonstrates the historical roots of what is usually described as a contemporary phenomenon." --MultiCultural Review "Substantial, in-depth comparison of more than one large city by a single urban scholar, while not unprecedented, is a difficult project to execute competently. Abu-Lughod has done a commendable job. One can only hope that others will follow her pioneering work and provide comparative and historical analyses of other global cities." --Urban Geography "For those of us who are interested in historical-geographical approaches to comparative urbanization, Janet Abu-Lughod's new work, New York, Chicago, Los Angeles: America's Global Cities, comes as a welcome relief. This impressive volume provides a comprehensive, readable, and lively interpretation of the three leading U.S. metropolitan areas. Although Abu-Lughod is a trained urban sociologist, she has a keen sensitivity to historical, spatial, economic, political, and cultural considerationsits real strengths lie in an exhaustive review of empirical evidence from the three metropolises and a rich illustration of points with abundant maps, tables, and figures. Abu-Lughod excels in profiling the trajectories of America's three largest city-regions. I find the book to be a tour de force, the worthwhile result of many years of study and observation. Happily, the book presents the material in a straightforward way and is remarkably free of the jargon that sometimes plagues global-city studies. I hope the book receives wide circulation. Abu-Lughod, after a long scholarly career in urban studies, may have achieved her magnum opus in this ambitious study of America's three preeminent global cities." --Geographical Review "Janet Abu-Lughod's book is both a fascinating history of New York, Chicago, and Los Angeles and a history of the United States from a new perspective. The stories of the three cities are beautifully overlapped but consistent in themselves, related to one another but self-sufficient. This is a very American book-despite the author's wealth of experience abroad. Her forte is the new narrative she weaves from existing research. The book provides a remarkably systematic and organized narrative of urbanization in the 19th and 20th centuries. It is also replete with a collection of individual anecdotal evidence and an impressive multitude of single conceptual and metaphorical observations that are often hidden in the empirical material presented throughout the book. This book represents an outstanding achievement. It will be-and deserves to be-an instant classic. Abu-Lughod's major opus is expressive of a life's work among the great American urbanists and planners of the 20th century. Abu-Lughod is a living example of what the best of urbanism can produce in a largely suburban America. In this sense, the book gives planners a giant source of inspiration: the big picture in long waves. The city lives despite itself." --Roger Keil, Journal of the American Planning Association "Janet L. Abu-Lughod's book is the first to compare these cities in an ambitious in-depth study that takes into account each city's unique history, following their development from their earliest days to their current status as players on the global state." --Bulletin of Science, Technology & Society New York, Chicago, and Los Angeles--for all their differences, they are quintessentially American cities. They are also among the handful of cities in the world that can truly be called "global." Janet L. Abu-Lughod's book is the first to compare them in an ambitious in-depth study that takes into account each city's unique history, following their development from their earliest days to their current status as players on the global stage. Unlike most other global cities, New York, Chicago, and Los Angeles all quickly grew from the nearly blank slate of the American landscape to become important beyond the nation's borders early in their histories. As a result, Abu-Lughod is able to show the effect of globalization on each city's development from its beginnings. While all three are critical to global economics and the spread of American culture to the farthest reaches of an increasingly interlinked world, their influence reflects their individual histories and personalities. In a masterful synthesis of historical and economic information, Abu-Lughod clarifies how each city's global role is--and will be--affected by geography, ethnicity of population, political institutions, and tradition of governance. New York, Chicago, and Los Angeles are more than global players: they are also home to forty million people. Abu-Lughod closes the book with a set of vignettes that captures the cities' differences as perceived by one who has lived in them. Bringing together the local and the global in thoroughly unexpected and enlightening ways, this important volume offers fascinating insight into these vital urban centers. "Comparative urbanism has few practitioners as distinguished as Janet L. Abu-Lughod. In this monumental study, Professor Abu-Lughod rescues Los Angeles from eccentricity by placing it in comparative context alongside the two most accepted urban paradigms of the United States: New York and Chicago. In doing so, she has added a new city--the City of Angels--to the front ranks of American cities and has significantly enhanced our understanding of New York and Chicago as well." --Kevin Starr, State Librarian of California "This breathtaking tour through the history of the three largest cities of the United States synthesizes the essentials of their varied history in a readable, lively form. New York, Chicago, Los Angeles is the first book I have seen by a single author who has lived in and become intimately knowledgeable about each of the cities, has plumbed their history, examined statistics, and pulled together a comparison that places the data and accounts in the context of personal experience. Abu-Lughod concludes the book with a set of human vignettes that captures differences and similarities among the cities, in the lived experience of a user and employer of each of the cities." --Peter Marcuse, Columbia University "A masterful comparative history of the three cities. Abu-Lughod's scholarship is impeccable and her book extremely well written." --John Friedmann, Professor Emeritus, UCLA, author of Endangered Dreams: The Great Depression and California and The Dream Endures: California Enters the 1940s. Janet L. Abu-Lughod, professor emerita of sociology of Northwestern University and the Graduate Faculty of the New School for Social Research, has been writing about and studying cities for more than fifty years. Her books include From Urban Village to East Village: The Battle for New York's Lower East Side; Changing Cities: Urban Sociology; Before European Hegemony: The World System A.D. 1250-1350; Rabat: Urban Apartheid in Morocco; and Cairo: 1001 Years of the City Victorious, among many other publications. In 1999 she received the Robert and Helen Lynd Award (American Sociological Association, Section on Community and Urban Sociology) for distinguished lifetime contributions to the study of cities.
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The Political Economy of Regional Peacemaking
Edited by Steven E. Lobell and Norrin M. Ripsman
University of Michigan Press, 2016
In The Political Economy of Regional Peacemaking, scholars examine the efficacy of trade agreements, economic sanctions, and other strategies of economic statecraft for the promotion of peace both between rival states and across conflict-ridden regions more generally. In the introduction, Steven E. Lobell and Norrin M. Ripsman pose five central questions: (1) What types of economic statecraft, including incentives and sanctions, can interested parties employ? (2) Who are the appropriate targets in the rival states—state leaders, economic and social elites, or society as whole? (3) When should specific economic instruments be used to promote peace—prior to negotiations, during negotiations, after signature of the treaty, or during implementation of the treaty? (4) What are the limits and risks of economic statecraft and economic interdependence? (5) How can economic statecraft be used to move from a bilateral peace agreement to regional peace?

The chapters that follow are grouped in three sections, corresponding to the three stages of peacemaking: reduction or management of regional conflict; peacemaking or progress toward a peace treaty; and maintenance of bilateral peace and the regionalization of the peace settlement. In each chapter, the contributors consider the five key questions from a variety of methodological, historical, cultural, and empirical perspectives, drawing data from the Pacific, the Middle East, Europe, Asia, and Latin America. The conclusion expands on several themes found in the chapters and proposes an agenda for future research.

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Politics, Markets, and Grand Strategy
Foreign Economic Policies as Strategic Instruments
Lars S. Skalnes
University of Michigan Press, 2000
Why do states sometimes discriminate in favor of certain states and at other times choose to pursue nondiscriminatory policies? In answering these questions, Lars S. Skålnes stresses the international political importance of foreign economic policy, arguing that trade, foreign investment, and foreign aid policies are strategic instruments great powers use to manage political and military relations with allies and adversaries.
Skålnes explains changes in foreign economic policy in terms of shifting strategic assessments regarding the importance of military support from allies. When states need military support from their allies to meet threats to their security, they will adopt discriminatory foreign economic policies in an attempt to strengthen alliance relations. When states can go it alone without military support, by contrast, they will not pursue foreign economic policies that discriminate in favor of either allies or other countries. Discriminatory policies, Skalnes argues, are important strategic instruments for several reasons. First, they can be used to tie countries to a military alliance. Second, they are useful as signals of intention. Third, discriminatory policies may strengthen an ally militarily by increasing the economic resources available for military purposes.
Skålnes provides detailed accounts of the grand strategies of Germany (1879-1914), France (1887-1914), Great Britain (1919-1939), and the United States (1945-1967).
Politics, Markets, and Grand Strategy will be important reading for scholars and students in the fields of national security studies, international political economy, and economic history, and to economists working on problems associated with foreign investment and trade generally and customs union theory and discriminatory trade agreements specifically.
Lars S. Skålnes is Associate Professor of Political Science, University of Oregon.
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The Poverty of Capitalism
Economic Meltdown and the Struggle for What Comes Next
John Hilary
Pluto Press, 2013

Capitalist growth is widely heralded as the only answer to the crisis still sweeping the global economy. Yet the era of corporate globalisation has been defined by unprecedented levels of inequality and environmental degradation. A return to capitalist growth threatens to exacerbate these problems, not solve them.

In The Poverty of Capitalism, John Hilary reveals the true face of transnational capital in its insatiable drive for expansion and accumulation. He exposes the myth of ‘corporate social responsibility’ (CSR), and highlights key areas of conflict over natural resources, labour rights and food sovereignty.

Hilary also describes the growing popular resistance to corporate power, as well as the new social movements seeking to develop alternatives to capitalism itself. This book will be essential reading for all those concerned with global justice, human rights and equity in the world order.

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Racial Conflict and Economic Development
W. Arthur Lewis
Harvard University Press, 1985

Is economic equality necessary for social peace? Why do the strong oppress and impoverish the weak? How are developing nations overcoming the legacy of colonialism? These are a few of the many thought-provoking concerns addressed in this book. The first in a new series—The W. E. B. Du Bois Lectures—it tackles a wide range of topics dealing with the economics of racial conflict in important areas of the world. Race is often introduced as a key factor, whether it is or not, in such highly controversial subjects as colonialism, federalism, dual labor markets, affirmative action, multinational corporations, the international economic order, and of course discrimination itself. W. Arthur Lewis discerns the ways in which race and economics affect individuals and groups, bringing a personal viewpoint to the problems faced by both less-developed and more-developed countries.

How many black vice-presidents should a major North American corporation employ? Do East Indians and Canadians demonstrate more aptitude for business than West Indians? Does affirmative action work in education or business? Though he boldly confronts grave national and international problems, Lewis does so with wisdom, equanimity, optimism, even a touch of humor. His individualistic and commonsensical thoughts and opinions may not please or satisfy everyone, but they cannot fail to intrigue and invite discussion.

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Regionalism versus Multilateral Trade Arrangements
Edited by Takatoshi Ito and Anne O. Krueger
University of Chicago Press, 1997
There is no doubt that the open multilateral trading system after World War II was a key ingredient in the rapid economic development of the entire world. Especially in Hong Kong, Korea, Singapore, and Taiwan, exports increased dramatically both in absolute terms and as a percentage of GNP. In the 1980s, however, preferential trading arrangements (PTAs) began to emerge as significant factors affecting world trade. This volume contains thirteen papers that analyze the tensions between multilateral trading systems and preferential trade arrangements and the impact of these tensions on East Asia. The first four chapters introduce PTAs conceptually and focus on the unique political issues that these agreements involve. The next five essays present more direct empirical analyses of existing PTAs and their economic effects, primarily in East Asia. The last four papers concentrate on the outcomes of individual East Asian nations' trading policies in specific instances of preferential agreements.
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Reluctant Partners
A History of Multilateral Trade Cooperation, 1850-2000
Andrew G. Brown
University of Michigan Press, 2003
With globalization drawing countries closer together, greater international cooperation is essential for peace and stability. The collective arrangement made by governments to manage their trade relations is one of the few successes of globalization. This book assesses the progress of multilateral trade cooperation, exploring the interests at work and the issues raised in successive postwar rounds of negotiations. It traces how the narrow perception of reciprocity has gradually yielded to a broader evaluation of the benefits to the regime as a whole as the major trading nations have mutually reduced trade barriers. Andrew G. Brown demonstrates the increasing importance of rule making and shows the diversity of issues on which negotiations have focused, such as customs procedures, technical standards, subsidies, anti-dumping duties, intellectual property rights, and the treatment of foreign direct investment. Despite the progress, however, the regime has remained vulnerable. The book also analyzes the major sources of strain that have been evident.
This is a nontechnical book for those curious about the possibilities for cooperation among states and should be of interest to both the nonspecialist and the specialist. It draws on more than one discipline to interpret the events, lying in the triangle bounded by political science, economics, and history.
Andrew G. Brown is a former Director of the General Analysis and Policies Division for the United Nations, New York.
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Rethinking the Financial Crisis
Alan S. Blinder
Russell Sage Foundation, 2013
Some economic events are so major and unsettling that they “change everything.” Such is the case with the financial crisis that started in the summer of 2007 and is still a drag on the world economy. Yet enough time has now elapsed for economists to consider questions that run deeper than the usual focus on the immediate causes and consequences of the crisis. How have these stunning events changed our thinking about the role of the financial system in the economy, about the costs and benefits of financial innovation, about the efficiency of financial markets, and about the role the government should play in regulating finance? In Rethinking the Financial Crisis, some of the nation’s most renowned economists share their assessments of particular aspects of the crisis and reconsider the way we think about the financial system and its role in the economy. In its wide-ranging inquiry into the financial crash, Rethinking the Financial Crisis marshals an impressive collection of rigorous and yet empirically-relevant research that, in some respects, upsets the conventional wisdom about the crisis and also opens up new areas for exploration. Two separate chapters–by Burton G. Malkiel and by Hersh Shefrin and Meir Statman – debate whether the facts of the financial crisis upend the efficient market hypothesis and require a more behavioral account of financial market performance. To build a better bridge between the study of finance and the “real” economy of production and employment, Simon Gilchrist and Egan Zakrasjek take an innovative measure of financial stress and embed it in a model of the U.S. economy to assess how disruptions in financial markets affect economic activity—and how the Federal Reserve might do monetary policy better. The volume also examines the crucial role of financial innovation in the evolution of the pre-crash financial system. Thomas Philippon documents the huge increase in the size of the financial services industry relative to real GDP, and also the increasing cost per financial transaction. He suggests that the finance industry of 1900 was just as able to produce loans, bonds, and stocks as its modern counterpart—and it did so more cheaply. Robert Jarrow looks in detail at some of the major types of exotic securities developed by financial engineers, such as collateralized debt obligations and credit-default swaps, reaching judgments on which make the real economy more efficient and which do not. The volume’s final section turns explicitly to regulatory matters. Robert Litan discusses the political economy of financial regulation before and after the crisis. He reviews the provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, which he considers an imperfect but useful response to a major breakdown in market and regulatory discipline. At a time when the financial sector continues to be a source of considerable controversy, Rethinking the Financial Crisis addresses important questions about the complex workings of American finance and shows how the study of economics needs to change to deepen our understanding of the indispensable but risky role that the financial system plays in modern economies.
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Topics in Empirical International Economics
A Festschrift in Honor of Robert E. Lipsey
Edited by Magnus Blomström and Linda S. Goldberg
University of Chicago Press, 2001
In this timely volume emanating from the National Bureau of Economic Research's program in international economics, leading economists address recent developments in three important areas. The first section of the book focuses on international comparisons of output and prices, and includes papers that present new measures of product market integration, new methodology to infer relative factor price changes from quantitative data, and an ongoing capital stock measurement project. The next section features articles on international trade, including such significant issues as deterring child labor exploitation in developing countries, exchange rate regimes, and mapping U. S. comparative advantage across various factors. The book concludes with research on multinational corporations and includes a discussion of the long-debated issue of whether growth of production abroad substitutes for or is complementary to production growth at home. The papers in the volume are dedicated to Robert E. Lipsey, who for more than a half century at the NBER, contributed significantly to the broad field of empirical international economics.
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U.S. International Economic Strategy in a Turbulent World
Strategic Rethink
Howard J. Shatz
RAND Corporation, 2016
This report presents strategic choices America faces regarding the international economy over the term of the next U.S. administration, focusing on policy choices in the areas of maintaining and improving the rules-based international economic system; working with China and better integrating it into the existing system; supporting economic growth of allies and partners; and using sanctions to change unwanted behavior and counter adversaries.
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Value Wars
The Global Market Versus the Life Economy
John McMurtry
Pluto Press, 2002

front cover of War by Other Means
War by Other Means
Geoeconomics and Statecraft
Robert D. Blackwill and Jennifer M. Harris
Harvard University Press, 2016

A Foreign Affairs Best Book of 2016

Today, nations increasingly carry out geopolitical combat through economic means. Policies governing everything from trade and investment to energy and exchange rates are wielded as tools to win diplomatic allies, punish adversaries, and coerce those in between. Not so in the United States, however. America still too often reaches for the gun over the purse to advance its interests abroad. The result is a playing field sharply tilting against the United States.

“Geoeconomics, the use of economic instruments to advance foreign policy goals, has long been a staple of great-power politics. In this impressive policy manifesto, Blackwill and Harris argue that in recent decades, the United States has tended to neglect this form of statecraft, while China, Russia, and other illiberal states have increasingly employed it to Washington’s disadvantage.”
—G. John Ikenberry, Foreign Affairs

“A readable and lucid primer…The book defines the extensive topic and opens readers’ eyes to its prevalence throughout history…[Presidential] candidates who care more about protecting American interests would be wise to heed the advice of War by Other Means and take our geoeconomic toolkit more seriously.
—Jordan Schneider, Weekly Standard

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