Constructing the International Economy


Book Description

Focusing empirically on how political and economic forces are always mediated and interpreted by agents, both in individual countries and in the international sphere, Constructing the International Economy sets out what such constructions and what various forms of constructivism mean, both as ways of understanding the world and as sets of varying methods for achieving that understanding. It rejects the assumption that material interests either linearly or simply determine economic outcomes and demands that analysts consider, as a plausible hypothesis, that economies might vary substantially for nonmaterial reasons that affect both institutions and agents' interests. Constructing the International Economy portrays the diversity of models and approaches that exist among constructivists writing on the international political economy. The authors outline and relate several different arguments for why scholars might attend to social construction, inviting the widest possible array of scholars to engage with such approaches. They examine points of terminological or theoretical confusion that create unnecessary barriers to engagement between constructivists and nonconstructivist work and among different types of constructivism. This book provides a tool kit that both constructivists and their critics can use to debate how much and when social construction matters in this deeply important realm. Contributors: Rawi Abdelal, Harvard Business School; Jacqueline Best, University of Ottawa; Mark Blyth, Brown University; Mlada Bukovansky, Smith College; Jeffrey M. Chwieroth, London School of Economics; Francesco Duina, Bates College; Charlotte Epstein, University of Sydney; Yoshiko M. Herrera, University of Wisconsin–Madison; Paul Langley, Northumbria University; Craig Parsons, University of Oregon; Catherine Weaver, University of Texas at Austin; Wesley W. Widmaier, Saint Joseph's University; Cornelia Woll, CERI-Sciences Po Paris




Austerity


Book Description

In Austerity: The History of a Dangerous Idea, Mark Blyth, a renowned scholar of political economy, provides a powerful and trenchant account of the shift toward austerity policies by governments throughout the world since 2009. The issue is at the crux about how to emerge from the Great Recession, and will drive the debate for the foreseeable future.




Revolution in Development


Book Description

Revolution in Development uncovers the surprising influence of postrevolutionary Mexico on the twentieth century's most important international economic institutions. Drawing on extensive archival research in Mexico, the United States, and Great Britain, Christy Thornton meticulously traces how Mexican officials repeatedly rallied Third World leaders to campaign for representation in global organizations and redistribution through multilateral institutions. By decentering the United States and Europe in the history of global economic governance, Revolution in Development shows how Mexican economists, diplomats, and politicians fought for more than five decades to reform the rules and institutions of the global capitalist economy. In so doing, the book demonstrates, Mexican officials shaped not only their own domestic economic prospects but also the contours of the project of international development itself.




The Global Economy as Political Space


Book Description

Explores the social, political, philosophical and cultural dimensions of the shift from a nation-state-based economy to a global economy.




Global Health and International Relations


Book Description

The long separation of health and International Relations, as distinct academic fields and policy arenas, has now dramatically changed. Health, concerned with the body, mind and spirit, has traditionally focused on disease and infirmity, whilst International Relations has been dominated by concerns of war, peace and security. Since the 1990s, however, the two fields have increasingly overlapped. How can we explain this shift and what are the implications for the future development of both fields? Colin McInnes and Kelley Lee examine four key intersections between health and International Relations today - foreign policy and health diplomacy, health and the global political economy, global health governance and global health security. The explosion of interest in these subjects has, in large part, been due to "real world" concerns - disease outbreaks, antibiotic resistance, counterfeit drugs and other risks to human health amid the spread of globalisation. Yet the authors contend that it is also important to understand how global health has been socially constructed, shaped in theory and practice by particular interests and normative frameworks. This groundbreaking book encourages readers to step back from problem-solving to ask how global health is being problematized in the first place, why certain agendas and issue areas are prioritised, and what determines the potential solutions put forth to address them? The palpable struggle to better understand the health risks facing a globalized world, and to strengthen collective action to deal with them effectively, begins - they argue - with a more reflexive and critical approach to this rapidly emerging subject.




The Political Economy of Nation Building


Book Description

Donor nations may advise and counsel, but the creation of a liberal nation state falls to its own people. They must create laws, exercise their liberties, provide freedom of belief and expression, and protect individual property rights. No nation becomes or remains free unless its people build, use, and defend these institutions, and protect them with understanding, vigilance, and effort. The Political Economy of Nation Building reviews the effects of political structures on the evolution and stability of liberalism in developing nations and considers the outlook for their success. Discussing the origins and applications of the modern liberal state from an explicitly Anglo- and Euro-centric view, Mack Ott addresses the origins of the rule of law and innovations that led to the rise of a market economy, separation of faith and governance, and the autonomy of finance—key components of the liberal state. He then addresses the emergence of sustained economic growth, a bridge between the liberal infrastructure and its application during the construction of a nation. Ott examines budget policy and laws, and accurate and timely economic and financial statistical reporting that assure donors that the recipient government is operating within the constraints of law. He addresses the beneficial effects of privatization of state-owned industry, examines the costs and benefits of nurturing non-governmental associations, and concludes with a review of transparent fiscal and monetary policies and the importance of non-interference in financial markets by the state.




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."




Crisis in the Global Economy


Book Description

'Crisis in the Global Economy' reflects on the state of global capitalism, developed in the mobile 'multiversity' of the UniNomade network of international researchers and activists during the months immediately following the first signals of the current financial and economic crisis.




Gridlock


Book Description

The issues that increasingly dominate the 21st century cannot be solved by any single country acting alone, no matter how powerful. To manage the global economy, prevent runaway environmental destruction, reign in nuclear proliferation, or confront other global challenges, we must cooperate. But at the same time, our tools for global policymaking - chiefly state-to-state negotiations over treaties and international institutions - have broken down. The result is gridlock, which manifests across areas via a number of common mechanisms. The rise of new powers representing a more diverse array of interests makes agreement more difficult. The problems themselves have also grown harder as global policy issues penetrate ever more deeply into core domestic concerns. Existing institutions, created for a different world, also lock-in pathological decision-making procedures and render the field ever more complex. All of these processes - in part a function of previous, successful efforts at cooperation - have led global cooperation to fail us even as we need it most. Ranging over the main areas of global concern, from security to the global economy and the environment, this book examines these mechanisms of gridlock and pathways beyond them. It is written in a highly accessible way, making it relevant not only to students of politics and international relations but also to a wider general readership.




Fairness in Practice


Book Description

In this book, the author argues that to achieve a fair global economy, there must be compensation of people harmed by their exposure to the global economy, but also equal division of the "gains of trade" across societies.