A Local History of Global Capital


Book Description

Before the advent of synthetic fibers and cargo containers, jute sacks were the preferred packaging material of global trade, transporting the world's grain, cotton, sugar, tobacco, coffee, wool, guano, and bacon. Jute was the second-most widely consumed fiber in the world, after cotton. While the sack circulated globally, the plant was cultivated almost exclusively by peasant smallholders in a small corner of the world: the Bengal delta. This book examines how jute fibers entangled the delta's peasantry in the rhythms and vicissitudes of global capital. Taking readers from the nineteenth-century high noon of the British Raj to the early years of post-partition Pakistan in the mid-twentieth century, Tariq Omar Ali traces how the global connections wrought by jute transformed every facet of peasant life: practices of work, leisure, domesticity, and sociality; ideas and discourses of justice, ethics, piety, and religiosity; and political commitments and actions. Ali examines how peasant life was structured and restructured with oscillations in global commodity markets, as the nineteenth-century period of peasant consumerism and prosperity gave way to debt and poverty in the twentieth century. A Local History of Global Capital traces how jute bound the Bengal delta's peasantry to turbulent global capital, and how global commodity markets shaped everyday peasant life and determined the difference between prosperity and poverty, survival and starvation.




Global Capital and Peripheral Labour


Book Description

Presents a historical account of plantations in India in the context of the modern world economy. This book shows how history can assist in explaining contemporary conditions and trends. It focuses on labour and economic development problems and interprets the dynamics of plantation capitalism.




Open


Book Description

With the winds of trade war blowing as they have not done in decades, and Left and Right flirting with protectionism, a leading economist forcefully shows how a free and open economy is still the best way to advance the interests of working Americans. Globalization has a bad name. Critics on the Left have long attacked it for exploiting the poor and undermining labor. Today, the Right challenges globalization for tilting the field against advanced economies. Kimberly Clausing faces down the critics from both sides, demonstrating in this vivid and compelling account that open economies are a force for good, not least in helping the most vulnerable. A leading authority on corporate taxation and an advocate of a more equal economy, Clausing agrees that Americans, especially those with middle and lower incomes, face stark economic challenges. But these problems do not require us to retreat from the global economy. On the contrary, she shows, an open economy overwhelmingly helps. International trade makes countries richer, raises living standards, benefits consumers, and brings nations together. Global capital mobility helps both borrowers and lenders. International business improves efficiency and fosters innovation. And immigration remains one of America's greatest strengths, as newcomers play an essential role in economic growth, innovation, and entrepreneurship. Closing the door to the benefits of an open economy would cause untold damage. Instead, Clausing outlines a progressive agenda to manage globalization more effectively, presenting strategies to equip workers for a modern economy, improve tax policy, and establish a better partnership between labor and the business community. Accessible, rigorous, and passionate, Open is the book we need to help us navigate the debates currently convulsing national and international economics and politics.




A Thirst for Empire


Book Description

"Tea has been one of the most popular commodities in the world. Over centuries, profits from its growth and sales funded wars and fueled colonization, and its cultivation brought about massive changes--in land use, labor systems, market practices, and social hierarchies--the effects of which are with us even today. A Thirst for Empire takes a vast and in-depth historical look at how men and women--through the tea industry in Europe, Asia, North America, and Africa--transformed global tastes and habits and in the process created our modern consumer society. As Erika Rappaport shows, between the seventeenth and twentieth centuries the boundaries of the tea industry and the British Empire overlapped but were never identical, and she highlights the economic, political, and cultural forces that enabled the British Empire to dominate--but never entirely control--the worldwide production, trade, and consumption of tea. Rappaport delves into how Europeans adopted, appropriated, and altered Chinese tea culture to build a widespread demand for tea in Britain and other global markets and a plantation-based economy in South Asia and Africa. Tea was among the earliest colonial industries in which merchants, planters, promoters, and retailers used imperial resources to pay for global advertising and political lobbying. The commercial model that tea inspired still exists and is vital for understanding how politics and publicity influence the international economy ..."--Jacket.




Global Capital, Local Culture


Book Description

This book examines the way transnational media companies have entered the Chinese entertainment market. Based on the author's ethnographic work and over 100 interviews with senior executives in global media corporations, including Warner Bros. Pictures, Viacom's MTV Channel, and Nickelodeon and News Corporation's Channel V, the book analyzes the concrete globalization/localization strategies of these corporations and how they cope with the various political and economic constraints of working in China.




Covert Capital


Book Description

The capital of the U.S. Empire after World War II was not a city. It was an American suburb. In this innovative and timely history, Andrew Friedman chronicles how the CIA and other national security institutions created a U.S. imperial home front in the suburbs of Northern Virginia. In this covert capital, the suburban landscape provided a cover for the workings of U.S. imperial power, which shaped domestic suburban life. The Pentagon and the CIA built two of the largest office buildings in the country there during and after the war that anchored a new imperial culture and social world. As the U.S. expanded its power abroad by developing roads, embassies, and villages, its subjects also arrived in the covert capital as real estate agents, homeowners, builders, and landscapers who constructed spaces and living monuments that both nurtured and critiqued postwar U.S. foreign policy. Tracing the relationships among American agents and the migrants from Vietnam, El Salvador, Iran, and elsewhere who settled in the southwestern suburbs of D.C., Friedman tells the story of a place that recasts ideas about U.S. immigration, citizenship, nationalism, global interconnection, and ethical responsibility from the post-WW2 period to the present. Opening a new window onto the intertwined history of the American suburbs and U.S. foreign policy, Covert Capital will also give readers a broad interdisciplinary and often surprising understanding of how U.S. domestic and global histories intersect in many contexts and at many scales. American Crossroads, 37




Bengal in Global Concept History


Book Description

In this study, Sartori closely examines the history of political and intellectual life in 19th- and 20th-century Bengal to show how the concept of 'culture' can take on a life of its own in different contexts, weaving the narrative of Bengal's embrace of culturalism into a worldwide history of the concept.




The Knowledge Capital of Nations


Book Description

A rigorous, pathbreaking analysis demonstrating that a country's prosperity is directly related in the long run to the skills of its population. In this book Eric Hanushek and Ludger Woessmann make a simple, central claim, developed with rigorous theoretical and empirical support: knowledge is the key to a country's development. Of course, every country acknowledges the importance of developing human capital, but Hanushek and Woessmann argue that message has become distorted, with politicians and researchers concentrating not on valued skills but on proxies for them. The common focus is on school attainment, although time in school provides a very misleading picture of how skills enter into development. Hanushek and Woessmann contend that the cognitive skills of the population—which they term the “knowledge capital” of a nation—are essential to long-run prosperity. Hanushek and Woessmann subject their hypotheses about the relationship between cognitive skills (as consistently measured by international student assessments) and economic growth to a series of tests, including alternate specifications, different subsets of countries, and econometric analysis of causal interpretations. They find that their main results are remarkably robust, and equally applicable to developing and developed countries. They demonstrate, for example, that the “Latin American growth puzzle” and the “East Asian miracle” can be explained by these regions' knowledge capital. Turning to the policy implications of their argument, they call for an education system that develops effective accountability, promotes choice and competition, and provides direct rewards for good performance.




Capital Rules


Book Description

"The rise of global financial markets in the last decades of the twentieth century was premised on one fundamental idea: that capital ought to flow across country borders with minimal restriction and regulation. Freedom for capital movements became the new orthodoxy. In an intellectual, legal, and political history of financial globalization, Rawi Abdelal shows that this was not always the case. Transactions routinely executed by bankers, managers, and investors during the 1990s—trading foreign stocks and bonds, borrowing in foreign currencies—had been illegal in many countries only decades, and sometimes just a year or two, earlier. How and why did the world shift from an orthodoxy of free capital movements in 1914 to an orthodoxy of capital controls in 1944 and then back again by 1994? How have such standards of appropriate behavior been codified and transmitted internationally? Contrary to conventional accounts, Abdelal argues that neither the U.S. Treasury nor Wall Street bankers have preferred or promoted multilateral, liberal rules for global finance. Instead, European policy makers conceived and promoted the liberal rules that compose the international financial architecture. Whereas U.S. policy makers have tended to embrace unilateral, ad hoc globalization, French and European policy makers have promoted a rule-based, “managed” globalization. This contest over the character of globalization continues today."




Capital in the Twenty-First Century


Book Description

What are the grand dynamics that drive the accumulation and distribution of capital? Questions about the long-term evolution of inequality, the concentration of wealth, and the prospects for economic growth lie at the heart of political economy. But satisfactory answers have been hard to find for lack of adequate data and clear guiding theories. In this work the author analyzes a unique collection of data from twenty countries, ranging as far back as the eighteenth century, to uncover key economic and social patterns. His findings transform debate and set the agenda for the next generation of thought about wealth and inequality. He shows that modern economic growth and the diffusion of knowledge have allowed us to avoid inequalities on the apocalyptic scale predicted by Karl Marx. But we have not modified the deep structures of capital and inequality as much as we thought in the optimistic decades following World War II. The main driver of inequality--the tendency of returns on capital to exceed the rate of economic growth--today threatens to generate extreme inequalities that stir discontent and undermine democratic values if political action is not taken. But economic trends are not acts of God. Political action has curbed dangerous inequalities in the past, the author says, and may do so again. This original work reorients our understanding of economic history and confronts us with sobering lessons for today.