The world’s multinational enterprises face a spell of rough weather, political economist Ray Vernon argues, not only from the host countries in which they have established their subsidiaries, but also from their home countries. Such enterprises—a few thousand in number, including Microsoft, Toyota, IBM, Siemens, Samsung, and others—now generate about half of the world’s industrial output and half of the world’s foreign trade; so any change in the relatively benign climate in which they have operated over the past decade will create serious tensions in international economic relations.

The warnings of such a change are already here. In the United States, interests such as labor are increasingly hostile to what they see as the costs and uncertainties of an open economy. In Europe, those who want to preserve the social safety net and those who feel that the net must be dismantled are increasingly at odds. In Japan, the talk of “hollowing out” takes on a new urgency as the country’s “lifetime employment” practices are threatened and as public and private institutions are subjected to unaccustomed stress. The tendency of multinationals in different countries to find common cause in open markets, strong patents and trademarks, and international technical standards has been viewed as a loss of national sovereignty and a weakening of the nation-state system, producing hostile reactions in home countries.

The challenge for policy makers, Vernon argues, is to bridge the quite different regimes of the multinational enterprise and the nation-state. Both have a major role to play, and yet must make basic changes in their practices and policies to accommodate each other.

Institutions and Economic Performance explores the question of why income per capita varies so greatly across countries. Even taking into account disparities in resources, including physical and human capital, large economic discrepancies remain across countries. Why are some societies but not others able to encourage investments in places, people, and productivity?

The answer, the book argues, lies to a large extent in institutional differences across societies. Such institutions are wide-ranging and include formal constitutional arrangements, the role of economic and political elites, informal institutions that promote investment and knowledge transfer, and others. Two core themes run through the contributors’ essays. First, what constraints do institutions place on the power of the executive to prevent it from extorting the investments and effort of other people and institutions? Second, when are productive institutions self-enforcing?

Institutions and Economic Performance is unique in its melding of economics, political science, history, and sociology to address its central question.

Where Latin American government leaders once looked at free trade agreements as solely about trade and trading policies, they are increasingly viewing them as the next beacon of hope in the long and arduous road of economic reform.

Integrating the Americas: FTAA and Beyond discusses how these governments have become embroiled in a larger set of issues affecting both institutions. This work, based on a conference sponsored by the Inter-American Development Bank and the David Rockefeller Center for Latin American Studies, examines how this free trade process is surging ahead, while at the same time taking on a broader set of issues including institutional reform, transparency, the environment, labor, and social cohesion. The payoffs to the strategy of liberalization, privatization, and openness have been meager and disappointing to date. Will the FTAA be able to reverse this and allow Latin America to reap the benefits of globalization?

Often considered one of the major forces behind economic growth and development, the entrepreneurial firm can accelerate the speed of innovation and dissemination of new technologies, thus increasing a country's competitive edge in the global market. As a result, cultivating a strong culture of entrepreneurial thinking has become a primary goal throughout the world.

Surprisingly, there has been little systematic research or comparative analysis to show how the growth of entrepreneurship differs among countries in various stages of development. International Differences in Entrepreneurship fills this void by explaining how a country's institutional differences, cultural considerations, and personal characteristics can affect the role that entrepreneurs play in its economy. Developing an understanding of the origins of entrepreneurs as well as the choices they make and the complexity of their activities across countries and industries are of central importance to this volume. In addition, contributors consider how environmental factors of individual economies, such as market regulation, government subsidies for banks, and support for entrepreneurial culture affect the industry and the impact that entrepreneurs have on growth in developing nations.

Promoting the rule of law at the national and international levels is at the heart of the United Nations’ mission and is a principle embedded throughout the Charter of the United Nations and most constitutions of nation-states. The 2012 “Declaration on the Rule of Law at the National and International Levels” adopted by the General Assembly reaffirmed that human rights, the rule of law, and democracy were interlinked and mutually reinforcing, and that they belonged to the universal and indivisible core values and principles of the United Nations. To some, the “Rule of Law” has become nothing more than empty rhetoric of individual Western states and intergovernmental bodies such as the UN, The World Bank, and the EU. In addition to conceptual uncertainty and perceived hidden agendas, there is mounting skepticism, particularly among donors, regarding rule of law promotion and its effectiveness in fragile states.

The International Rule of Law Movement critically evaluates rule of law initiatives from a contemporary global perspective. It seeks to fill the gap in knowledge among actors and to explain what has and has not been effective and why. It also proposes better models for promoting justice and the rule of law in fragile states.

An Introduction to Sustainable Development presents the concept and practice of sustainable development as a process that meets the needs of the present generation without compromising the ability of future generations to meet their own needs. This textbook examines the environmental, economic, and social dimensions of sustainable development by focusing on changing patterns of consumption, production, and distribution of resources.

The impact of globalization and the role of the private sector including multinational corporations are discussed. Case materials include domestic and international initiatives and projects; protection of coastal wetlands; development of community-based water supply and sanitation systems; sustainable energy, forest, and industrial development.

As the glittering skyline in Shanghai seemingly attests, China has quickly transformed itself from a place of stark poverty into a modern, urban, technologically savvy economic powerhouse. But as Scott Rozelle and Natalie Hell show in Invisible China, the truth is much more complicated and might be a serious cause for concern.

China’s growth has relied heavily on unskilled labor. Most of the workers who have fueled the country’s rise come from rural villages and have never been to high school. While this national growth strategy has been effective for three decades, the unskilled wage rate is finally rising, inducing companies inside China to automate at an unprecedented rate and triggering an exodus of companies seeking cheaper labor in other countries. Ten years ago, almost every product for sale in an American Walmart was made in China. Today, that is no longer the case. With the changing demand for labor, China seems to have no good back-up plan. For all of its investment in physical infrastructure, for decades China failed to invest enough in its people. Recent progress may come too late. Drawing on extensive surveys on the ground in China, Rozelle and Hell reveal that while China may be the second-largest economy in the world, its labor force has one of the lowest levels of education of any comparable country. Over half of China’s population—as well as a vast majority of its children—are from rural areas. Their low levels of basic education may leave many unable to find work in the formal workplace as China’s economy changes and manufacturing jobs move elsewhere.

In Invisible China, Rozelle and Hell speak not only to an urgent humanitarian concern but also a potential economic crisis that could upend economies and foreign relations around the globe. If too many are left structurally unemployable, the implications both inside and outside of China could be serious. Understanding the situation in China today is essential if we are to avoid a potential crisis of international proportions. This book is an urgent and timely call to action that should be read by economists, policymakers, the business community, and general readers alike.

We are culturally conditioned to think of war and peace in binary terms of strict opposition. Correspondingly, we tend to focus our attention on conflict prevention or conflict resolution. But as Islands of Agreement demonstrates, peace and war are seldom polar totalities but increasingly can and do coexist within the confines of a single scenario.

Consequently, Gabriella Blum suggests that even where conflict exists, we regard it as only one dimension of an ongoing, multifaceted interstate relationship. The result is a shift in perspective away from the constricting notions of "prevention" or "resolution" toward a more holistic approach of relationship management.

This approach is especially pertinent because conflicts cannot always be prevented or resolved. Through case studies of long-enduring rivalries--India and Pakistan, Greece and Turkey, Israel and Lebanon--Blum shows how international law and politics can function in the battlefield and in everyday life, forming a hybrid international relationship.

Through a strategy she calls "islands of agreement," Blum argues that within the most entrenched and bitter struggles, adversaries can carve out limited areas that remain safe or even prosperous amid a tide of war. These havens effectively reduce suffering and loss and allow mutually beneficial exchanges to take place, offering hope for broader accords.