International economics Books

Book SynopsisExplores the intense and ultimately fleeting moment in 1980s America when the future looked Japanese. From autoworkers to anime fans, Consuming Japan introduces new unorthodox actors into foreign-relations history, demonstrating how the flow of all things Japanese contributed to the globalizing of America in the late twentieth century.

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Book SynopsisBased in Glasgow and Toronto and later Hamilton, the trading business of Peter and Isaac Buchanan became one of Canada’s largest. The crash of 1857, which abruptly ended an Upper Canadian boom, brought its growth to a halt, and increasing financial problems led to its failure in 1867 and gain in 1872. This history of success and failure reveals much about the Anglo-Canadian trading system and the Upper Canadian economy of the period. The Buchanans’ timing was excellent in 1834 they began operations in Glasgow and Toronto, early in the prolonged era of growth which by the mid-1850s had transformed Upper Canada from a frontier wilderness to a relatively developed agricultural society. In 1840 they added a large branch in Hamilton. Over the years a number of new partners were admitted, and branches were established in Montreal, New York, Liverpool, and London (Canada West). By 1845 the firm dealt in all the major categories of the colony’s imports. By 1856 P

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Book SynopsisThis book traces in an accurate and objective manner the sequence of events during the last twenty years which have influenced the organization fo the Canadian grain trade. During these years problems arising out of the production and marketing of western grain have been under continuous review in Canada, leading at different times to royal commissions of inquiry. The production and sale of cereals have become such a vital part of the economic life of the three prairie provinces and, indeed, of Canada, that anything affecting this great industry becomes at once a subject of general interest. These twenty years have witnessed momentous changes. The period marks a shift from free trading on the open market to the compulsory marketing of Canadian wheat and other grains through the medium of a Federal board endowed with wide powers. Basically, this change stems from conditions arising out of the Great Depression and World War II. And in one form or another the Canadian Wheat Board will

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Book SynopsisThe author has constructed value and, in most cases, price and quantity series for seventeen comparatively homogeneous categories of commodity imports for the peace-time years of the period 1926-1955. These series will be indispensable aids to anyone who wishes to study the behaviour of the Canadian balance of payments in this period.On the basis of these new, disaggregated series, the author has been able to estimate price and income elasticities of demand for individual categories of imports. In contrast with the findings of earlier investigators, who worked with highly aggregative price and quantity series, his estimates of price elasticities turned out in many cases to differ significantly from zero. This suggests that the role of price changes in the balance of payments adjustment mechanism may be greater than earlier studies for Canada and other countries had suggested. The author also has provided evidence of a wartime break in the structure of Canadian import demand;

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Book SynopsisWhat explains Eurozone member-states' divergent exposure to Europe's sovereign debt crisis? Deviating from current fiscal and financial views, From Convergence to Crisis focuses on labor markets in a narrative that distinguishes the winners from the losers in the euro crisis.Trade ReviewJohnston uses theory, statistical analysis, and case studies to argue that each country's relative wage moderation compared to other European Monetary Union (EMU) members determines how susceptible the country has been to the debt crisis. The case studies analyze wage negotiation changes in Denmark, the Netherlands, Germany, Italy, Ireland, and Spain, mostly focusing on 1979 to 2008. Finally, Johnston argues, post-2008 austerity conditions for loans to countries on the verge of default have tended to exacerbate declines. She suggests supranational wage coordination and wage increases in creditor EMU nations to promote recovery. Summing Up: Recommended. Upper-division undergraduates through faculty. -- E. J. Peterson * Choice *[This book] examines the European debt crisis, the effects of labor-market politics before the 2008 global financial crisis, and how the European Economic and Monetary Union (EMU) created circumstances that economically advantaged low-inflation northwest European member economies over high-inflation peripheral economies. [Johnston] presents a labor-market approach that views the euro crisis as a holistic problem and delineates the role of the EMU North in crisis recovery and in providing a solidaristic approach to EU recovery. * Journal of Economic Literature *Johnston's book traces the development of wage rate bargaining institutions over time and across member states of the European Economic and Monetary Union (EMU). Her argument is as intuitive as it is compelling. -- Ari Ray, University of Zurich * EuropeNow *Table of Contents1. Incomplete Monetary Union and Europe's Current Crisis 2. From Order to Disorder: How Monetary Union Changed National Labor Markets 3. Monetary Regimes, Wage Bargaining, and the Current Account Crisis in the EMU South: Empirical Evidence 4. National Central Banks and Inflation Convergence: Danish and Dutch Corporatism Inside and Outside of Monetary Union 5. Strength in Rigidity: Public Sector Employment Reform and Wage Suppression in Germany, the Netherlands and Italy 6. Sheltered Sector Dominance under a Common Currency: Irrational Exuberance in Ireland and Fragmentation in Spain 7. EMU, the Politics of Wage Inflation, and Crisis: Implications for Current Debates and Policy

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Book SynopsisWhy do nations so frequently abandon unrestricted international commerce in favor of trade protectionism? David A. Lake contends that the dominant explanation, interest group theory, does not adequately explain American trade strategy or address the contradictory elements of cooperation and conflict that shape the international economy. Power, Protection, and Free Trade offers an alternative, systemic approach to trade strategy that builds on the interaction between domestic and international factors. In this innovative book, Lake maintains that both protection and free trade are legitimate and effective instruments of national policy, the considered responses of nations to varying international structures.Trade ReviewLake has written an excellent book. He is meticulous in showing when and how his predictions are confirmed or disconfirmed by the evidence. His version of structuralism in the trade area is by far the most sophisticated and nuanced we have. By focusing sharply on structure, he alerts us to external constraints and opportunities, and suggests interesting reinterpretations of particular historical events. -- Stephan Haggard * American Political Science Review *

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Book SynopsisIn The Hypocritical Hegemon, Lukas Hakelberg takes a close look at how US domestic politics affects and determines the course of global tax policy. Through an examination of recent international efforts to crack down on offshore tax havens and the role the United States has played, Hakelberg uncovers how a seemingly innocuous technical addition to US law has had enormous impact around the world, particularly for individuals and corporations aiming to avoid and evade taxation.Through bullying and using its overwhelming political power, writes Hakelberg, the United States has imposed rules on the rest of the world while exempting domestic banks for the same reporting requirements. It can do so because no other government wields control over such huge financial and consumer markets. This power imbalance is at the heart of The Hypocritical Hegemon.Thanks to generous funding from COFFERS EU, the ebook editions of this book are available as Open Access volumes Table of Contents1. Change and Stability in Global Tax Policy 2. Power in International Tax Politics 3. Countering Harmful Tax Practices 4. The Swift Return of Tax Competition 5. The Emergence of Multilateral AEI 6. The BEPS Project: Long Live Arm's Length 7. From Hegemony to Transatlantic Tax Battle?

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Book SynopsisBlack Gold and Blackmail seeks to explain why great powers adopt such different strategies to protect their oil access from politically motivated disruptions. In extreme cases, such as Imperial Japan in 1941, great powers fought wars to grab oil territory in anticipation of a potential embargo by the Allies; in other instances, such as Germany in the early Nazi period, states chose relatively subdued measures like oil alliances or domestic policies to conserve oil. What accounts for this variation? Fundamentally, it is puzzling that great powers fear oil coercion at all because the global market makes oil sanctions very difficult to enforce.Rosemary A. Kelanic argues that two variables determine what strategy a great power will adopt: the petroleum deficit, which measures how much oil the state produces domestically compared to what it needs for its strategic objectives; and disruptibility, which estimates the susceptibility of a state''s oil imports to military interdTrade ReviewKelanic takes a deep dive into national governments' strategies to protect their access to oil by imagining how bad actors might interfere and by developing 'anticipatory strategies' to protect access. Her arguments are forceful and... convincing. * The Middle East Journal *Kelanic's, Black Gold and Blackmail: Oil and Great Power Politics is deeply engaging and [an] important book that advance[s] our knowledge on the politics of energy security. * H-Diplo *Table of ContentsIntroduction: The Ubiquity of Oil 1. A Theory of Strategic Anticipation 2. Oil and Military Effectiveness 3. Qualitative Methods for Testing the Theory 4. British Vulnerability and the Conquest of Mesopotamia 5. The Oil Strategies of Nazi Germany 6. American Efforts to Avoid Vulnerability 7. Empirical Tests with Fuzzy-Set QCA Conclusion: Oil and the Future of Great Power Politics

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Book SynopsisAlmost 15 years ago, in The World is Flat, Thomas Friedman popularized the latest wave of globalization as a world of giant corporate supply chains that tripled world trade between 1990 and 2010. Major corporations such as Apple, Dell, and GE offshored manufacturing to low-cost economies; China became the world's factory, mass-producing and exporting computers and gadgets to Western shoppers. This paradigm of globalization has dominated global trade policy-making and guided hundreds of billions of dollars in business investments and development spending for almost three decades. But we are now on the cusp of a new era. Revolutionizing World Trade argues that technologies such as ecommerce, 3D printing, 5G, the Cloud, blockchain, and artificial intelligence are revolutionizing the economics of trade and global production, empowering businesses of all sizes to make, move, and market products and services worldwide and with greater ease than ever before. The twin forces of digitization and trade are changing the patterns, players, politics, and possibilities of world trade, and can reinvigorate global productivity growth. However, new policy challenges and old regulatory frameworks are stifling the promise of this most dynamic, prosperous, and inclusive wave of globalization yet. This book uses new empirical evidence and policy experiences to examine the clash between emerging possibilities in world trade and outdated policies and institutions, offering several policy recommendations for navigating these obstacles to catalyze growth and development around the world.Trade Review"Trade has historically been expensive, slow, and opaque. Today's disruptive technologies not only offer new solutions to old problems, but create wholly new global markets for products and services. Kati Suominen draws from her deep experience in the world of goods trade to clearly set out the parameters of this new global trading ecosystem, offering excellent insight and advice for goods producers seeking to get involved in frontier technologies like blockchain and AI."—Dr. Alisa DiCaprio, Head of Trade and Supply Chain, R3"Suominen brilliantly explores the impact of new technologies on the patterns, players, and possibilities of world trade, and their unparalleled potential to reignite productivity, raise incomes, and empower people. She then masterfully lays down a bold and innovative blueprint to help policymakers act on this potential. In an increasingly darkening global trade policy scenario, this is a book by a modern-day Renaissance woman on the renaissance of globalization!"—Anabel González, Nonresident Senior Fellow, Peterson Institute for International Economics, former Costa Rica Trade Minister, Senior Director of the World Bank Trade & Competitiveness, and former WTO Agriculture Director"An important new book, highlighting the trading opportunities that come with new technologies. It analyzes the challenges that need to be overcome, including cross-border procedures, and makes the key point that beyond digitizing trade, we also need to digitize customs, borders, and ports."—Jan Hoffmann, Chief, Trade Logistics Branch, Division on Technology and Logistics, UNCTAD"Professor Kati Suominen 'gets it.' Globalization, technology, and mass affluence have changed the rules for international expansion. In Revolutionizing World Trade, Suominen walks us through how these changes have upended the traditional trading world, driven by ecommerce and the Internet. Every international business should get this book. Then they can 'get it' as well."—Frank Lavin, Chairman, Export Now, former Undersecretary for International Trade, U.S. Department of Commerce"Revolutionizing World Trade provides an in-depth look at forces changing trade and global business and makes important recommendations for bold policy ideas which would enable outsized economic growth across global markets. A must-read for anyone driven to solve these big problems."—Brenda Santoro, Head of Global Trade, Silicon Valley Bank"Kati has a wealth of experience in international trade from both a private sector practitioner perspective as well as a public sector policy perspective. Her work has taken her to the forefront of the evolving trade landscape. This book elucidates this evolution and is a great contribution to the debate about the future of trade and our ability to shape its course for the betterment of the global community."—Steven Beck, Head of Trade and Supply Chain Finance, Asian Development Bank"Kati Suominen introduces this book as a roadmap for the far-sighted entrepreneur; however, it is much more than that. In Revolutionizing World Trade, she explores the opportunities and challenges facing businesses, policy makers, regulators, and society in general, before finally setting out her manifesto for using e-commerce as a key enabler for inclusive trade. Whatever your role or interest in e-commerce and trade, this book will help you better understand how e-commerce is shaping our world today and the benefits that it can bring tomorrow."—Steven Pope, Vice President Customs & Regulatory Affairs, DHL Express Europe"In a time of taking two steps back, Revolutionizing World Trade makes a bold leap into the future and the verdict is there is nothing to fear! Suominen provides a thorough review of what's to come for the global economy and while not shying from the real challenges facing consumers, governments and businesses, generates a sense of promise and optimism sorely missing from today's discourse on global affairs."—Susan F. Stone, Senior Trade Advisor, OECD"Suominen examines the opportunities that new technologies will open up in world trade, ushering in what she calls 'globalization 4.0' within a decade. This future is already apparent, in an incipient form."—Richard N. Cooper, Foreign Affairs"This [is a] lively, well-written book....Suominen is well versed in these issues, is at home as a policy wonk, and has all the right credentials (and she adds a welcome sense of humor and irreverence)....Highly recommended."—I. Walter, CHOICETable of Contents1. Introduction 2. World Economy Goes to Heaven 3. Killer App for World Trade 4. When Six Billion People Go to the Mall 5. Driverless Delivery, Door to Door 6. Finding $1.7 Trillion 7. The Big Query 8. Offline 9. Stuck in Customs 10. Splinternet 11. Credit Crunch 12. Techlash and Trade Wars 13. Better Trade By More People

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Book SynopsisIn the late nineteenth century, Latin American exports boomed. From Chihuahua to Patagonia, producers sent industrial fibers, tropical fruits, and staple goods across oceans to satisfy the ever-increasing demand from foreign markets. In southern Mexico's Soconusco district, the coffee trade would transform rural life. A regional history of the Soconusco as well as a study in commodity capitalism, From the Grounds Up places indigenous and mestizo villagers, migrant workers, and local politicians at the center of our understanding of the export boom. An isolated, impoverished backwater for most of the nineteenth century, by 1920, the Soconusco had transformed into a small but vibrant node in the web of global commerce. Alongside plantation owners and foreign investors, a dense but little-explored web of small-time producers, shopowners, and laborers played key roles in the rapid expansion of export production. Their deep engagement with rural development challenges the standard top-down narrative of market integration led by economic elites allied with a strong state. Here, Casey Marina Lurtz argues that the export boom owed its success to a diverse body of players whose choices had profound impacts on Latin America's export-driven economy during the first era of globalization.Trade Review"Casey Lurtz's book is a remarkable contribution to our understanding of capitalist development in Mexico through the last 150 years. Her subject is the coffee business in Chiapas, not in the much studied highlands, but down on the coast, where the stakes were in cash and credit. Her research is original, her discoveries new, her arguments clear, sharp, and strong, and her exemplary stories a joy to read." -- John Womack, Jr. * Harvard University *"A creatively conceived, meticulously researched, beautifully written, and cogently argued fusion of environmental, socioeconomic, and political history. Lurtz combines local specificity and global perspective in a fascinating account of how a region in Chiapas that went from cradle of the cacao trade to forgotten backwater became Mexico's main exporter of coffee and a multinational hub of local and Guatemalan farmers, German colonists, Chinese merchants, and others." -- José C. Moya, Barnard College * Columbia University *"[From the Grounds Up] is a remarkable scholarly achievement. It is a model of careful and patient archival work with dense and often quantitative sources....Graduate students in all kinds of seminars should dissect the book not only for its content but also as a study in how to transform unwieldy archival material into a digestible monograph." -- Timothy W. Lorek * H-Environment *"Lurtz's central contribution is her focus on bringing Latin Americans, not large-scale plantation owners, but villagers and locals, to the fore of this economic history....From the Grounds Up has sweeping implications on how historians think about the connection between Latin American export economies of the 19th century and state-building more broadly." -- Jennifer Eaglin * H-Environment *"From the Grounds Up is a compelling history of the ways in which individuals in one isolated region of Mexico both used and shaped institutions as it became a dynamic coffee exporter at the end of the nineteenth century....Lurtz's perspective offers important correctives to many top-down historiographic traditions." -- Gail Triner * H-Environment *"[From the Grounds Up] paints a compelling picture of a region with its own multivalent geographic personality. To Lurtz's great credit, that sensibility of place suffuses the rest of the book....In Lurtz's hands, the Soconusco becomes a social landscape every bit as complex as its ecological one." -- Christopher Boyer * H-Environment *"Lurtz succeeds in providing a particularly nuanced and complex understanding of how the export-economy model developed in late nineteenth-century Mexico. The result is a particularly welcome contribution to the field that will force scholars to rethink long-held assumptions about the experience of the Export Economy period." -- Will Fowler * Journal of Interdisciplinary History *"With its extensive local research, Casey Lurtz's From the Grounds Up provides fresh insights into the construction of export economies and the integration of global markets....The book's innovative structure makes it particularly valuable for historians of global capitalism, export agriculture, and Latin American development. For historians of Mexico, its bold stake in the debate around obstacles to growth makes it essential." -- Susan Gauss * Business History Review *"This exhaustively researched book provides an excellent study of grassroots state-building and entrepreneurism in a peripheral, borderland region of a peripheral state. Lurtz writes extremely well and uses poignant case studies to 'hook' the reader into each of her chapters. Her well-founded conclusions challenge the conventional wisdom on state-building, liberalism, land privatization, and debt peonage." -- Stephen Lewis * H-LatAm *"[From the Grounds Up] is an excellent contribution to the historiography of export crops. It has important evidence and insights into the development of local solutions to crucial impediments to export development, especially the lack of credit institutions and a body of accepted business regulations, and into the role of foreign enterprise in the Mexican economy." -- Mark Wasserman * Comparativ *Table of ContentsContents and AbstractsIntroduction: chapter abstractAcross the late nineteenth century, Latin American rural economies transformed and expanded to meet the demands of urban and industrial markets in the North Atlantic. In examining these transformations, historians have long failed to register the ways smalltime producers as well as foreign and local elites integrated Latin America into global trade. Yet it is impossible to understand the export boom without understanding all those who produced for market. Neither the liberal policies of Latin American elites nor the capital and connections of migrant investors could absolutely disentail regional participants in the shifting political and economic landscape of the era. From the first years of production, numerous factors constrained commercial investors as they attempted to turn places like the Soconusco into model plantation economies serving global markets. Chief among these was the active participation of local villagers in the self-same global market and the institutions that undergirded it. 1An Uncultivated Eden chapter abstractBorrowing the language and rhetoric of correspondence between individuals living in the Soconusco and the Mexican Minister of Finance, Matías Romero, this chapter elucidates the hurdles that stood in the way of the region's integration into global markets. After an overview of the region's precolonial and colonial history, the chapter establishes how little the Soconusco had to recommend it in the 1860s. Without a fixed border, a reliable political leader, institutions to secure property and commerce, or a population adequate to meet the labor demands of plantation agriculture, the Soconusco did not present an ideal site for development. Yet precisely because of these absences, Romero and others posited the region as an exemplary site for experimentation. With this in mind, the chapter illustrates how the region can stand in for other parts of rural Latin America undergoing a shift to export agriculture in the same era. 2Fixing the Border chapter abstractThis chapter draws on local stories of violence and instability to explore the lived experiences of international debates over sovereignty. Like many countries in Latin America, Mexico and Guatemala lacked a border treaty until the 1880s. For the national government, the absence of clear territorial bounds countered Mexico's assertions of itself as a modern nation. For planters in the Soconusco, the lack of territorial fixity made it difficult to define and defend their property. Yet, for laborers and villagers from the Soconusco and Guatemala, the porous border provided access to land and opportunities for seasonal work. This chapter demonstrates how all of these interests came into play in the negotiation and implementation of the 1882 border treaty. While international aspirations spurred confrontation between national governments, local experiences of and knowledge about the border formed the basis for negotiating their resolution. 3From Bullets to Bureaucracy chapter abstractOrder and progress have long defined both the ambitions and achievements of governments across Latin America at the turn of the century. This chapter demonstrates how local actors also put those ideas into play, working around political violence by engaging with state bureaucracy. In parallel to the political history of popular liberalism, this chapter traces a popular history bureaucratic liberalism. Beginning with the history of a local cacique's rise to the state governorship, it then traces his decline through the gradual reworking of the apparatus and physical spaces of state institutions into places where producers could work around the cacique's arbitrary exercise of power. This sidestepping of political authority set the stage for local control over the implementation of reform, even after the cacique's death. Administration substituted for electoral politics, but administration itself became a means of local assertions of self-governance. 4The Landscape of Production chapter abstractThis chapter traces the overlapping stories of villager and finquero-driven land privatization efforts and the attendant acceleration in local property markets as export agriculture expanded in the Soconusco. In the process, it shows how smallholders and their neighbors increased their holdings and defined the spaces within which local and migrant elites could invest. As much as ridges and gullies became natural borders for neighboring plantations, municipalities and their communally held lands were man-made bounds for the spread of fincas as a whole. Counter to a historiography of globalization that has long emphasized the loss of village lands to plantation owners, here villagers maintained and even expanded their reach into the foothills of the Sierra Madre de Chiapas. 5Scarce Labor and Unrealized Reform chapter abstractThis chapter uses the history of a large finca called San Juan las Chicharras to demonstrate how laborers extracted incentives from their employers as the export economy of the Soconusco expanded. While labeled debt peonage, the labor system of the growing coffee economy is better understood through the idea of incentivized contracts. Because of demographics and planters' lack of coercive capabilities, planters' continual attempts to circumvent or reform contracts that came with advances, access to credit, good wages, and subsistence plots continually failed. Finqueros tried to ease their bottom lines through legislation and attempts to reach beyond the regional labor source. Yet so long as need for workers outpaced the supply of interested laborers, these attempts failed. The informal institutions of incentivized contracts won out over attempts to reform formalized labor relations. 6The Circulation of Codes and Commerce chapter abstractThis chapter uses the Bado family's commercial activities to capture how local actors engaged with the increasingly diverse array of commercial instruments in use in the globalizing economy. Through the use of state-sponsored institutions to secure and promote their investments, local actors built these institutions into meaningful and durable parts of the economy. Making use of running tabs at general stores, small short term loans registered at the local court, advance contracts for coffee, and long term mortgage-backed loans, people across the economic spectrum came in contact with and made use of liberal commercial reforms. In so doing, they created a liberal economic vernacular to govern quotidian transactions. The chapter also emphasizes the increasing material and institutional integration of the region into the global economy and shows how the expansion of the global economy relied on local actors' engagement with and interpretation of its essential institutions. Conclusion: chapter abstractThis conclusion illustrates how the book has sought to advance a history of the export boom that understands late nineteenth century globalization through the activities of all those involved in production. Pulling the history of the Soconusco's export economy through the Mexican Revolution and into the present, it illustrates how this place provides a model for understanding the transformation of rural economies through engagement rather than imposition. State projects for modernization and consolidation manifested on a timeline and in a manner that had much more to do with local need than the desires of higher authorities. This stilted, sometimes stumbling manner of building new legal and commercial institutions may have impeded future economic development. Yet as the nineteenth century slipped into the twentieth, it facilitated the continued involvement of a large swath of local society in export production.

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Book SynopsisEgypt has undergone significant economic liberalization under the auspices of the International Monetary Fund, the World Bank, USAID, and the European Commission. Yet after more than four decades of economic reform, the Egyptian economy still fails to meet popular expectations for inclusive growth, better standards of living, and high-quality employment. While many analysts point to cronyism and corruption, Amr Adly finds the root causes of this stagnation in the underlying social and political conditions of economic development. Cleft Capitalism offers a new explanation for why market-based development can fail to meet expectations: small businesses in Egypt are not growing into medium and larger businesses. The practical outcome of this missing middle syndrome is the continuous erosion of the economic and social privileges once enjoyed by the middle classes and unionized labor, without creating enough winners from market making. This in turn set the stage for alienation, discontent, and, finally, revolt. With this book, Adly uncovers both an institutional explanation for Egypt's failed market making, and sheds light on the key factors of arrested economic development across the Global South.Trade Review"Cleft Capitalism is a highly original analysis of what Amr Adly calls Egypt's 'successful transition to failed capitalism.' Based on extensive and sound research, it represents an important rethinking of the trajectory of Egypt's political economy since 1974 and a bold challenge to Washington Consensus economic policy orthodoxy." -- Joel Beinin * Stanford University *"Amr Adly elaborates a novel explanation for underperforming economies of the Global South. Richly detailed, theoretically insightful, Cleft Capitalism is essential reading for anyone interested in the Egyptian, Middle Eastern, and other political economies." -- Robert Springborg * Naval Postgraduate School *"Cleft Capitalism offers a lucid, rich, and new understanding of the course of Egyptian economic development. With his sophisticated understanding of Egyptian politics and society and refined economic analysis, Amr Adly not only helps us understand Egypt better, but offers a model of how to approach the contentious terrain of economic change in the developing world." -- Nathan J. Brown * George Washington University *"Adly puts forth compelling arguments and descriptions of Egypt's failed market making....Cleft Capitalism offers new theoretical insights and valuable empirical analysis of the course of Egypt's political economy and the causes of its economic predicaments since 1974." -- Housam Darwisheh * The Developing Economies *"[Cleft Capitalism] is more than an exemplary analysis of the situation of political economy in Egypt. It is also a significant contribution to wider debates on the possibilities and limits of market-based development in the Global South....an essential read to students, researchers, and policy-makers interested in the political economy of Egypt, the limits and potentials of structural adjustment policies, and the insights of economic sociology to the study of political economy." -- Hesham Shafik * Jadaliyya *"Cleft Capitalism is an ambitious book that aims to make broad academic contributions far beyond its specific focus on the contemporary social and political economy of Egypt....[It succeeds] both as an overview of the Egyptian economy and as a critique of the institutional economics orthodoxy. It is one of the best books that I have read about both subjects in recent years, and I recommend it highly." -- Mahmoud A. El-Gamal * Middle East Journal *"[Adly's] novel argument diverges from dominant political economy accounts, which focus on corruption and crony capitalism or the lack of formal property rights and the rule of law. For Adly, the answer lies in the 'missing middle' of small and medium enterprises, which have served an important role in capitalist development by scaling up to become important job creators in more successful developing economies, such as in South Korea. Adly traces the roots of the problem to historically specific institutional arrangements that emerged earlier in the 20th century and during the period of state-led development under Nasser and were consolidated under Sadat and Mubarak's tenures. Adly's book is grounded on impressive qualitative and quantitative data collection and analysis and makes important contributions to the study of failed development in Egypt, with comparative implications for other developing countries in and beyond the Middle East and North Africa." -- Committee for the Roger Owen Book Award * sponsored by the Middle East Studies Association *Table of ContentsContents and AbstractsOne: Successful Transition to Failed Capitalism chapter abstractOver the course of four decades, the Egyptian economy underwent consistent and comprehensive economic liberalization, privatization of state-owned enterprises, and deregulation. Yet the Egyptian economy today still experiences low growth, declining total investment rates, and high unemployment and underemployment. The private sector has never become globally competitive. The chapter traces this failure to establish an integrated market order. The problem of market integration in Egypt was not the absence of the Weberian spirit for exchange and the profit-making mentality among a majority of economically active people. Rather, it was the hard constraint of accessing capital. The 2011 uprising highlighted that these efforts at transformation failed not only economically but politically as well. Two: Beyond Cronyism chapter abstractStudies of Egypt's lackluster development performance have largely focused on the issue of crony capitalism, particularly the routes through which big business emerged after infitāḥ. It is undeniable that politics has played a significant, if not a central, role in the rise of big business in Egypt since the mid-1970s. This is hardly surprising, let alone unique. This literature on cronyism and rent seeking suffers from a blind spot in assessing the problematic nature of Egypt's capitalist transformation. Where large enterprises came from does not explain the lack of vibrancy and dynamism in the rest of the private sector. The issue with Egypt's private sector, as well as other cases of failed market transformation, seems to lie more with its inability to engender a robust stratum of small and medium-sized enterprises rather than the existence of large enterprises that are politically connected. Three: Egypt's Cleft Capitalism chapter abstractContrary to the expectations of neoclassical institutionalism, the weakness of formal property rights neither impeded the expansion of market exchange nor t deterred thousands of Egyptians from engaging with this expanding market since the mid-1970s. Alternative private economic orders have retained the capacity for sustained market creation and expansion, albeit imperfectly. This market expansion was not conducive to market integration, though. The resultant capitalist order was cleft. In order to grow, private enterprises must have access to inputs and market outlets that go beyond what is immediately available from their direct, private social capital. Throughout Egypt's capitalist transformation, access to capital, in particular, finance and land, remained quite restrained for the vast majority of private market actors. This was due to politico-historical factors that were continually perpetuated, eventually leading to the rise of institutional arrangements that were exclusionary for the broad base of private sector enterprises and entrepreneurs. Four: The Origins of Cleft Capitalism chapter abstractFor a vibrant and integrated capitalist order to emerge, capital should be made accessible to a majority of market actors. However, Egyptian SSEs have faced high administrative and economic barriers to financial and physical capital, a central mechanism through which cleft capitalism has been produced and reproduced over time. The problem of restricted access to capital has institutional and political origins. The rules, norms, and structures—-be they formal, informal, or a mix—that have governed the distribution of opportunities for accessing capital has produced three separate business subsystems—baladi, dandy, and crony—since infitāḥ in 1974. It was the predominance of a coalition of bureaucratic actors that maintained certain institutional arrangements for directly accessing land and bank credit. Five: How Cleft Capitalism Came About chapter abstractThis chapter discusses the historical and political factors that led to the production and reproduction of cleft capitalism since infitāḥ. It addresses the question of where the institutional condition of cleft capitalism came from. It examines the multiple political and economic factors since the mid-1970s that shaped the role of the state amid the process of market making and why they led to the development and perpetuation of cleft capitalism. It was the predominance of a coalition of bureaucratic actors that maintained certain institutional arrangements for directly accessing land and bank credit. However, this was neither uniform nor always strategically pursued, as it did not always result from top-down decisions by leadership of the executive where most formal power resided. Rather, there were many instances when bottom-up forces from within an incoherent and fragmented bureaucracy solidified the same institutional arrangements of a centralized and hierarchical system. Six: Egypt's Banking System: An Exclusive Club chapter abstractDespite waves of market-oriented reforms in Egypt, the overconcentration of credit, mainly extended to the state and a few large private sector firms, has persisted and failed to produce intermediate institutions that could open up channels of credit access for the broad base of SSEs. The chapter shows that the essential investment tool of debt financing has been made systematically unavailable to the broad base of these establishments because of an institutional and organizational framework that has been overly centralized and hierarchical. These institutional traits have ultimately raised the transaction costs for SSEs to an extent that has effectively excluded them from accessing credit, precluding any credible chance of scaling up and thus calcifying the institutional condition of cleft capitalism. Seven: Egypt's Desert Land: Abundant Yet Scarce chapter abstractDespite the virtual abundance of desert land, access to this land for productive uses has been quite restricted for most private sector enterprises. Indeed, entrepreneurs have traditionally underlined access to land, like finance, as a major barrier to growth—a consistent and constant theme since the launch of infitāḥ . Similar to the case of finance, centralized and hierarchical institutions dominated land management that excluded SSEs from accessing the physical capital needed to expand. Taken together, the lack of access to these crucial capital inputs has created and perpetuated the institutional condition of cleft capitalism that has robbed the Egyptian private sector of any ability to follow the paths taken by more successful market transformations. Eight: Baladi Capitalism chapter abstractThis chapter portrays a detailed and vivid picture of Egypt's baladi capitalism through exploring how SSEs function. Informed by extensive field research conducted in mid-2013, the chapter depicts a lively portrayal of how Egypt's private SSEs evolved and the diverse and complex modes of articulation between what is formal and informal and what is economic and social. Social networks, usually composed of family and friends, reduce the asymmetries of information between parties. Such networks are quite prevalent due to the weakness of formal contract enforcement and the high risks associated with impersonal transactions. Socialized and personalized transactions have contributed to the rise and constitution of a market since infitāḥ, defined as the space where price-driven exchange occurs. However, they couldn't substitute for the missing ingredient of access to capital that could have propelled Egypt's baladi capitalist subsystem into a robust and integrated private sector. Nine: Dandy Capitalism chapter abstractDespite economic liberalization and private sector development, designed to serve as the neoclassical solutions to Egypt's economic woes, entrenched levels of social marginalization and exclusion that were derived from earlier attempts at top-down modernization and colonial rule persisted after independence. Throughout most of Egypt's contemporary history, including the social reform eras in the 1950s and 1960s, state institutions maintained ties with only limited segments of society. This implied the absence of complementarity between social evolution that involved the vast majority of the people, on the one hand, and state attempts to deliver development, on the other. This overarching concept can be used to understand the historical lack of complementarity and intermediate institutions between capital-regulating organizations and SSEs, the missing-middle syndrome, rampant economic informality, and finally cleft capitalism as the general condition for underdevelopment throughout the past four decades of attempted market making.

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Book SynopsisThe global rise of neoliberalism since the 1970s is widely seen as a dynamic originating in the United States and the United Kingdom, and only belatedly and partially repeated by Germany. From this Anglocentric perspective, Germany's emergence at the forefront of neoliberal reforms in the eurozone is perplexing, and tends to be attributed to the same forces conventionally associated with the Anglo-American pioneers. This book challenges this ruling narrative conceptually and empirically. It recasts the genesis of neoliberalism as a process driven by a plenitude of actors, ideas, and interests. And it lays bare the pragmatic reasoning and counterintuitive choices of German crisis managers that are obscured by this master story. Drawing on extensive original archival research, this book argues that German officials did not intentionally set out to promote neoliberal change. Instead they were more intent on preserving Germany's export markets and competitiveness in order to stabilize the domestic compact between capital and labor. Nevertheless, the series of measures German policy elites took to manage the end of golden-age capitalism promoted neoliberal transformation in crucial respects: it destabilized the Bretton Woods system; it undermined socialist and social democratic responses to the crisis in Europe; it frustrated an internationally coordinated Keynesian reflation of the world economy; and ultimately it helped push the US into the Volcker interest-rate shock that inaugurated the attack on welfare and labor under Reagan and Thatcher. From this vantage point, the book illuminates the very different rationale behind the painful reforms German state managers have demanded of their indebted eurozone partners. Trade Review"With an alternative origin story of neoliberalism pivoting on the historical role of Germany and its contemporary 'primacy' within the European Union, Germann treats the reader to a fresh perspective on the uneven and combined developmental trajectory of capitalist discipline and deflection." -- Adam David Morton * University of Sydney *"A strikingly original, deeply important, and fantastically well-researched book which challenges and recasts much of what we thought we knew about the origins of neoliberalism in Europe and, indeed, beyond. Highly recommended, this is destined to become a key reference point in all subsequent debate on this crucial topic." -- Colin Hay, Sciences Po * Paris *"This seminal work fundamentally recasts our understanding of the evolution of the international political economy since 1945. Based on extensive archival research, Germann's book shows convincingly that the Federal Republic of Germany played a central role in the global neoliberal counterrevolution and that its contemporary European primacy is a central factor in the contemporary global crisis." -- Alan Cafruny * Hamilton College *"In this highly readable, thoroughly documented and at times controversial study, Germann argues that Germany's contribution to the shaping of global neoliberalism goes much deeper than usually recognized. Ever since the global recession of the 1970s Germany has been a key architect—albeit an unwitting one—of the neoliberal global order. A must-read for scholars of European and global political economy!" -- Henk Overbeek * Vrije Universiteit Amsterdam *"Thoroughly convincing and excellently sourced [Unwitting Architect] is a pivotal and timely book and one any informed citizen would benefit from reading." - Julian Clos, Spectrum CultureTable of ContentsContents and AbstractsIntroduction: Introduction chapter abstractThe introduction asks how Germany—a country long thought to be irrevocably European and committed to a more social market economy—could have emerged at the helm of a punitive program of neoliberalism within Europe. To resolve this puzzle, we need to revisit the crisis of the 1970s, when neoliberalism first appeared, and rethink the role of the German state in light of newly available archival material. From this viewpoint, Germany is revealed to be the "unwitting architect" of neoliberalism. Its parochial attempts to manage the crisis domestically promoted a regressive form of capitalism internationally that soon boomeranged back upon it, and which it promotes across Europe today so as not to practice at home. After a chapter-by-chapter summary of this argument, the Introduction lists the archival sources consulted for this book and discusses how an archival method can be integrated into critical International Political Economy. 1The Origins of Neoliberalism and the Role of the German State chapter abstractThis chapter reviews the most prominent explanations of the global rise of neoliberalism provided within critical International Political Economy: (1) a state-centered argument, which holds that neoliberalism was imposed by the United States in a bid to reassert its global dominance; (2) a class-based argument, which sees neoliberalism as the project of globalizing elites who sought to restore their corporate profits and power; and (3) an ideational argument, which describes the rise of neoliberalism as a paradigmatic shift in economic ideas. The chapter argues that these accounts share a common bias: they pivot unduly on the Anglo-American world and are unable to capture the peculiar German contribution to the origins of neoliberalism. As a result, they misread the rise of Germany to the apex of a neoliberal Europe as a belated repetition of the same global movement spearheaded by the US and the UK. 2Foreign Economic Policy and Advanced Unevenness chapter abstractThis chapter develops an alternative framework to understand Germany's role in the global rise of neoliberalism. Eschewing a comparative approach, it interrogates the German political economy as not only different from but fundamentally entwined with other national political economies. The lens of uneven and combined development is used to conceptualize this interconnectedness, emphasizing the co-evolution of national capitalisms, the systemic pressures that arise from their coexistence, and the interactive context of foreign economic decision making. This heuristic characterizes neoliberalism as an interactive process involving several states and diverse ideas, rather than an Anglo-American project writ large. Neoliberalism, in this view, did not arise from the domestic conditions prevailing in the US or the UK alone, but within a wider international environment structured by the German state for particular reasons that precede the Anglo-American turn and continue to shape its crisis management today. 3Embedding Liberalism: The German Social Model and Its International Supports chapter abstractThis chapter traces the long-term development of German capitalism from the vantage point of uneven and combined development. It argues that Germany's postwar social market economy was built upon an externally oriented developmental model inherited from its belated insertion into the world market, and used to enroll capital and labor in a global export offensive. The underlying vision of Germany as the workshop of an advanced industrial and newly industrializing world coincided with the postwar plans of the United States for an open, multilateral global economy. And yet the chapter cautions that the prevailing image of Germany as a liberal "trading state" (Handelsstaat) that had traded power for wealth as its prime objective fails to capture the novel ways in which the German state, from the crisis of the 1970s onward, has come to exert its influence internationally to sustain this export-led social model. 4Unwinding Bretton Woods: The Deutsche Mark Float and the Renewal of Stability Politics chapter abstractThis chapter asks how German policymakers responded to the monetary turbulences that signaled the end of the golden age of capitalism from the mid-1960s onward. To address this question, the chapter challenges the popular view that Bretton Woods died at the hands of a declining US hegemon and zooms in on the actions of its allies: while French attempts to push the US toward monetary reform destroyed the dollar-gold standard as early as March 1968, German efforts to protect themselves from the abuse of dollar seignorage upended the regime of fixed exchange rates three years later. The chapter argues that, unlike elsewhere in the advanced industrialized world, the shift toward floating enabled the German state to double down on price stability and restabilize its embedded liberal compromise—an experience that framed how German policymakers would respond to the wider economic turmoil of the 1970s. 5Defeating Alternatives: German Grand Strategy and the European Left chapter abstractThis chapter examines the development of a grand economic strategy pursued by the German state from the mid-1970s onward. Its primary objective was to shore up the domestic compact between capital and labor internationally, which required maintaining stable prices and open markets for its exports. To German policymakers, this meant that Germany could not afford to turn inward, or to expend its resources on lofty visions of solidarity. Instead, Germany mobilized its monetary and financial power in order to counter the threats of protectionism and imported inflation posed by leftist crisis responses. The chapter details how German officials, through European exchange-rate cooperation and financial interventions coordinated with the US, sought to commit its European partners to an anti-inflationary program that would complement their own. The result, the chapter explains, was to frustrate progressive resolutions of the crisis and move the world closer toward the neoliberal counter-revolution. 6Disciplining the Hegemon: German Monetary Power and the Volcker Shock chapter abstractThis chapter argues that in order to protect its export model from the dangers of imported inflation, Germany strove to commit the US to monetary and fiscal rigor. To this end, German officials blocked the attempts of the Carter administration to organize a global Keynesian expansion, and scaled back their foreign exchange interventions in support of a weakening dollar. Both actions helped push the US into the Volcker Shock, which deflated the world economy and launched the attack on organized labor. The chapter concludes that the neoliberal experiment in the US, paralleled and reinforced by similar attempts in the UK, was late and lucky. Rather than the outcome of a decade-long domestic shift—seamless and sealed off from the world outside the Anglo-American heartland—the neoliberal counter-revolution was driven in part by the external pressures imposed by Germany, and subsequently sustained by a bout of Japanese investment. 7Deflecting Neoliberalism: Power and Purpose in Germany's Eurocrisis Management chapter abstractThis chapter explores how the German political economy was transformed by the global rise of neoliberalism and how this change feeds into Germany's approach to the eurocrisis. Rather than being pushed down an Anglo-American road, German policymakers still seek to preserve what is left of the domestic compromise between capital and labor. The chapter argues that China's massive demand for German exports informs the long-term vision of a neoliberal Europe structurally adjusted to support the global position of German manufacturers. At the same time, the perceived threat of US interest rates rising out of step with economic conditions in Europe and emerging markets hardened the German stance on austerity during the fever-pitched policy battles at the height of the eurocrisis. Together, these international pressures and opportunities have produced the predicament of German primacy as a transformative and yet destabilizing force within the EU. Conclusion: Conclusion chapter abstractThe conclusion places Germany's current position in the EU within a global context and draws out the wider implications of this study. It advances a conception of neoliberalism as a multifaceted process in which actors draw upon, and contribute to, an ever wider array of available techniques to deconstruct or reconfigure the social, economic, and political gains working people had wrought from capital and invested in the postwar welfare state. While in this respect neoliberalism is the indispensable marker for a new era of capitalism, it is too amorphous a term to serve as a guide to the emerging frontiers and faultlines of the global political economy.

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Book SynopsisPrecarious Asia assesses the role of global and domestic factors in shaping precarious work and its outcomes in Japan, South Korea, and Indonesia as they represent a range of Asian political democracies and capitalist economies: Japan and South Korea are now developed and mature economies, while Indonesia remains a lower-middle income country. With their established backgrounds in Asian studies, comparative political economy, social stratification and inequality, and the sociology of work, the authors yield compelling insights into the extent and consequences of precarious work, examining the dynamics underlying its rise. By linking macrostructural policies to both the mesostructure of labor relations and the microstructure of outcomes experienced by individual workers, they reveal the interplay of forces that generate precarious work, and in doing so, synthesize historical and institutional analyses with the political economy of capitalism and class relations. This book reveals how precarious work ultimately contributes to increasingly high levels of inequality and condemns segments of the population to chronic poverty and many more to livelihood and income vulnerability.Trade Review"Precarious Asia fills a much-needed gap, challenging mainstream economics by combining historical institutional and critical political economy approaches to understand how national institutions structure precarious employment and its outcomes." —Leah F. Vosko, Professor and Canada Research Chair in the Political Economy of Gender & Work, York University"An insightful and fascinating exploration of the drivers of precarious work in Asia, and of the variable, politically contested ways in which governments have sought to balance the competing agendas of firms requiring employment flexibility and of workers demanding basic social and livelihood protections." —Frederic C. Deyo, Bartle Professor of Sociology, SUNY Binghamton"Precarious Asia stakes out a commanding perspective situating country cases on a broad canvas that stretches across both the region and the globe. The authors open the field of vision to expose the scarred landscapes of labor relations and deep social fault-lines of precarity." —Heidi Gottfried, Associate Professor of Sociology, Wayne State University"Kalleberg, Hewison and Shin are compassionate in addressing the difficult situation confronting working people in an age of increasing precarity... Their comparative analytical framework will be very useful to scholars and activists who wish to further investigate and monitor the long-term development of Japan, South Korea and Indonesia from the perspective of employment rights. The dynamism of Asian capitalism and labor politics, mediated by national states and other political actors across different levels, receives an insightful analysis in Precarious Asia."—Jenny Chan, Journal of Contemporary Asia"Precarious Asia is informative, as its audience can trace the changes of precarious work in the three Asian countries. The authors successfully discover the patterns of precarious work in the labor market and, more important, compare how international pressures played out distinctively as well as similarly."—Yooseop Chun, Industry and Labor Relations Review"With case studies of Japan, South Korea, and Indonesia, this multidisciplinary, comparative research raises serious questions about how the global economy, capital, and labor interact to create this outcome. ... Recommended."—Z. Zhu, CHOICE"Precarious Asiais an important addition to the fields of political economy, global capitalism, work and labor, stratification and inequality, and welfare states. Readers will greatly benefit from the broad comparative knowledge that the book offers regarding the changing shapes of employment and their implications for socioeconomic inequality in contemporary neoliberal capitalism."—Yoonkyung Lee, Social Forces"In Precarious Asia: Global Capitalism and Work in Japan, South Korea, and Indonesia, Arne Kalleberg, Kevin Hewison, and Kwang-Yeong Shin provide a comprehensive view of precarious work in three of Asia's most important economic powers. Their effort is an ambitious one, spanning the history of precarious work in each country, the global and domestic forces that have shaped the extent and type of precarity, and the consequences for inequality and poverty."—Mary C. Brinton, American Journal of SociologyTable of Contents1. Precarious Work in Comparative Perspective 2. Japan, South Korea, and Indonesia 3. Global Capitalism, Domestic Policies, and Precarious Work 4. Dualisms of Precarious Work: Nonstandard Work, the Informal Economy, and Self-Employment 5. Precarious Work, Wages, and Social Protections 6. Precarious Work: Politics and Policies Conclusion

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Book SynopsisEgypt has undergone significant economic liberalization under the auspices of the International Monetary Fund, the World Bank, USAID, and the European Commission. Yet after more than four decades of economic reform, the Egyptian economy still fails to meet popular expectations for inclusive growth, better standards of living, and high-quality employment. While many analysts point to cronyism and corruption, Amr Adly finds the root causes of this stagnation in the underlying social and political conditions of economic development. Cleft Capitalism offers a new explanation for why market-based development can fail to meet expectations: small businesses in Egypt are not growing into medium and larger businesses. The practical outcome of this missing middle syndrome is the continuous erosion of the economic and social privileges once enjoyed by the middle classes and unionized labor, without creating enough winners from market making. This in turn set the stage for alienation, discontent, and, finally, revolt. With this book, Adly uncovers both an institutional explanation for Egypt's failed market making, and sheds light on the key factors of arrested economic development across the Global South.Trade Review"Cleft Capitalism is a highly original analysis of what Amr Adly calls Egypt's 'successful transition to failed capitalism.' Based on extensive and sound research, it represents an important rethinking of the trajectory of Egypt's political economy since 1974 and a bold challenge to Washington Consensus economic policy orthodoxy." -- Joel Beinin * Stanford University *"Amr Adly elaborates a novel explanation for underperforming economies of the Global South. Richly detailed, theoretically insightful, Cleft Capitalism is essential reading for anyone interested in the Egyptian, Middle Eastern, and other political economies." -- Robert Springborg * Naval Postgraduate School *"Cleft Capitalism offers a lucid, rich, and new understanding of the course of Egyptian economic development. With his sophisticated understanding of Egyptian politics and society and refined economic analysis, Amr Adly not only helps us understand Egypt better, but offers a model of how to approach the contentious terrain of economic change in the developing world." -- Nathan J. Brown * George Washington University *"Adly puts forth compelling arguments and descriptions of Egypt's failed market making....Cleft Capitalism offers new theoretical insights and valuable empirical analysis of the course of Egypt's political economy and the causes of its economic predicaments since 1974." -- Housam Darwisheh * The Developing Economies *"[Cleft Capitalism] is more than an exemplary analysis of the situation of political economy in Egypt. It is also a significant contribution to wider debates on the possibilities and limits of market-based development in the Global South....an essential read to students, researchers, and policy-makers interested in the political economy of Egypt, the limits and potentials of structural adjustment policies, and the insights of economic sociology to the study of political economy." -- Hesham Shafik * Jadaliyya *"Cleft Capitalism is an ambitious book that aims to make broad academic contributions far beyond its specific focus on the contemporary social and political economy of Egypt....[It succeeds] both as an overview of the Egyptian economy and as a critique of the institutional economics orthodoxy. It is one of the best books that I have read about both subjects in recent years, and I recommend it highly." -- Mahmoud A. El-Gamal * Middle East Journal *"[Adly's] novel argument diverges from dominant political economy accounts, which focus on corruption and crony capitalism or the lack of formal property rights and the rule of law. For Adly, the answer lies in the 'missing middle' of small and medium enterprises, which have served an important role in capitalist development by scaling up to become important job creators in more successful developing economies, such as in South Korea. Adly traces the roots of the problem to historically specific institutional arrangements that emerged earlier in the 20th century and during the period of state-led development under Nasser and were consolidated under Sadat and Mubarak's tenures. Adly's book is grounded on impressive qualitative and quantitative data collection and analysis and makes important contributions to the study of failed development in Egypt, with comparative implications for other developing countries in and beyond the Middle East and North Africa." -- Committee for the Roger Owen Book Award * sponsored by the Middle East Studies Association *Table of ContentsContents and AbstractsOne: Successful Transition to Failed Capitalism chapter abstractOver the course of four decades, the Egyptian economy underwent consistent and comprehensive economic liberalization, privatization of state-owned enterprises, and deregulation. Yet the Egyptian economy today still experiences low growth, declining total investment rates, and high unemployment and underemployment. The private sector has never become globally competitive. The chapter traces this failure to establish an integrated market order. The problem of market integration in Egypt was not the absence of the Weberian spirit for exchange and the profit-making mentality among a majority of economically active people. Rather, it was the hard constraint of accessing capital. The 2011 uprising highlighted that these efforts at transformation failed not only economically but politically as well. Two: Beyond Cronyism chapter abstractStudies of Egypt's lackluster development performance have largely focused on the issue of crony capitalism, particularly the routes through which big business emerged after infitāḥ. It is undeniable that politics has played a significant, if not a central, role in the rise of big business in Egypt since the mid-1970s. This is hardly surprising, let alone unique. This literature on cronyism and rent seeking suffers from a blind spot in assessing the problematic nature of Egypt's capitalist transformation. Where large enterprises came from does not explain the lack of vibrancy and dynamism in the rest of the private sector. The issue with Egypt's private sector, as well as other cases of failed market transformation, seems to lie more with its inability to engender a robust stratum of small and medium-sized enterprises rather than the existence of large enterprises that are politically connected. Three: Egypt's Cleft Capitalism chapter abstractContrary to the expectations of neoclassical institutionalism, the weakness of formal property rights neither impeded the expansion of market exchange nor t deterred thousands of Egyptians from engaging with this expanding market since the mid-1970s. Alternative private economic orders have retained the capacity for sustained market creation and expansion, albeit imperfectly. This market expansion was not conducive to market integration, though. The resultant capitalist order was cleft. In order to grow, private enterprises must have access to inputs and market outlets that go beyond what is immediately available from their direct, private social capital. Throughout Egypt's capitalist transformation, access to capital, in particular, finance and land, remained quite restrained for the vast majority of private market actors. This was due to politico-historical factors that were continually perpetuated, eventually leading to the rise of institutional arrangements that were exclusionary for the broad base of private sector enterprises and entrepreneurs. Four: The Origins of Cleft Capitalism chapter abstractFor a vibrant and integrated capitalist order to emerge, capital should be made accessible to a majority of market actors. However, Egyptian SSEs have faced high administrative and economic barriers to financial and physical capital, a central mechanism through which cleft capitalism has been produced and reproduced over time. The problem of restricted access to capital has institutional and political origins. The rules, norms, and structures—-be they formal, informal, or a mix—that have governed the distribution of opportunities for accessing capital has produced three separate business subsystems—baladi, dandy, and crony—since infitāḥ in 1974. It was the predominance of a coalition of bureaucratic actors that maintained certain institutional arrangements for directly accessing land and bank credit. Five: How Cleft Capitalism Came About chapter abstractThis chapter discusses the historical and political factors that led to the production and reproduction of cleft capitalism since infitāḥ. It addresses the question of where the institutional condition of cleft capitalism came from. It examines the multiple political and economic factors since the mid-1970s that shaped the role of the state amid the process of market making and why they led to the development and perpetuation of cleft capitalism. It was the predominance of a coalition of bureaucratic actors that maintained certain institutional arrangements for directly accessing land and bank credit. However, this was neither uniform nor always strategically pursued, as it did not always result from top-down decisions by leadership of the executive where most formal power resided. Rather, there were many instances when bottom-up forces from within an incoherent and fragmented bureaucracy solidified the same institutional arrangements of a centralized and hierarchical system. Six: Egypt's Banking System: An Exclusive Club chapter abstractDespite waves of market-oriented reforms in Egypt, the overconcentration of credit, mainly extended to the state and a few large private sector firms, has persisted and failed to produce intermediate institutions that could open up channels of credit access for the broad base of SSEs. The chapter shows that the essential investment tool of debt financing has been made systematically unavailable to the broad base of these establishments because of an institutional and organizational framework that has been overly centralized and hierarchical. These institutional traits have ultimately raised the transaction costs for SSEs to an extent that has effectively excluded them from accessing credit, precluding any credible chance of scaling up and thus calcifying the institutional condition of cleft capitalism. Seven: Egypt's Desert Land: Abundant Yet Scarce chapter abstractDespite the virtual abundance of desert land, access to this land for productive uses has been quite restricted for most private sector enterprises. Indeed, entrepreneurs have traditionally underlined access to land, like finance, as a major barrier to growth—a consistent and constant theme since the launch of infitāḥ . Similar to the case of finance, centralized and hierarchical institutions dominated land management that excluded SSEs from accessing the physical capital needed to expand. Taken together, the lack of access to these crucial capital inputs has created and perpetuated the institutional condition of cleft capitalism that has robbed the Egyptian private sector of any ability to follow the paths taken by more successful market transformations. Eight: Baladi Capitalism chapter abstractThis chapter portrays a detailed and vivid picture of Egypt's baladi capitalism through exploring how SSEs function. Informed by extensive field research conducted in mid-2013, the chapter depicts a lively portrayal of how Egypt's private SSEs evolved and the diverse and complex modes of articulation between what is formal and informal and what is economic and social. Social networks, usually composed of family and friends, reduce the asymmetries of information between parties. Such networks are quite prevalent due to the weakness of formal contract enforcement and the high risks associated with impersonal transactions. Socialized and personalized transactions have contributed to the rise and constitution of a market since infitāḥ, defined as the space where price-driven exchange occurs. However, they couldn't substitute for the missing ingredient of access to capital that could have propelled Egypt's baladi capitalist subsystem into a robust and integrated private sector. Nine: Dandy Capitalism chapter abstractDespite economic liberalization and private sector development, designed to serve as the neoclassical solutions to Egypt's economic woes, entrenched levels of social marginalization and exclusion that were derived from earlier attempts at top-down modernization and colonial rule persisted after independence. Throughout most of Egypt's contemporary history, including the social reform eras in the 1950s and 1960s, state institutions maintained ties with only limited segments of society. This implied the absence of complementarity between social evolution that involved the vast majority of the people, on the one hand, and state attempts to deliver development, on the other. This overarching concept can be used to understand the historical lack of complementarity and intermediate institutions between capital-regulating organizations and SSEs, the missing-middle syndrome, rampant economic informality, and finally cleft capitalism as the general condition for underdevelopment throughout the past four decades of attempted market making.

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Book SynopsisNonreciprocal preferential trade arrangements are a defining feature of the relationship between developed and developing countries dating back to the colonial era. In the late 1950s, these arrangements started to take a multilateral form when members of the European Economic Community established special trade arrangements with their colonies. Since then, several trade arrangements have featured African countries among the preference-receiving countries. Yet it is not always clear how preferential these arrangements are and whether they in fact help African countries or instead lead them to perpetual dependence on specific markets and products.Richard E. Mshomba carefully examines the history of these programs and their salient features. He analyzes negotiations between the EU and African countries to form Economic Partnership Agreements. Nonreciprocal preferential trade arrangements are often unpredictable, since the duration and magnitude of preferences are at the discreti

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Book SynopsisThe global electronics industry is one of the most innovation-driven and technology-intensive sectors in the contemporary world economy. From semiconductors to end products, complex transnational production and value-generating activities have integrated diverse macro-regions and national economies worldwide into the "interconnected worlds" of global electronics. This book argues that the current era of interconnected worlds started in the early 1990s when electronics production moved from systems dominated by lead firms in the United States, Western Europe, and Japan towards increasingly globalized and cross-macro-regional electronics manufacturing centered in East Asia. By the 2010s, this co-evolution of production network complexity transformed global electronics, through which lead firms from South Korea, Taiwan, and China integrated East Asia into the interconnected worlds of electronics production across the globe. Drawing on literature on the electronics industry, new empirical material comprising custom datasets, and extensive personal interviews, this book examines through a "network" approach the co-evolution of globalized electronics production centered in East Asia across different national economies and sub-national regions. With comprehensive analysis up to 2021, Yeung analyzes the geographical configurations ("where"), organizational strategies ("how"), and causal drivers ("why") of global production networks, setting a definitive benchmark into the dynamic transformations in global electronics and other globalized industries. The book will serve as a crucial resource for academic and policy research, offering a conceptual, empirically driven grounding in the theory of these networks that has become highly influential across the social sciences.Trade Review"Henry Wai-chung Yeung provides a comprehensive and fascinating analysis of the decisive role of global production networks in driving the shift of global electronics industry to East Asia in the early 21st century. The book features rich and detailed firm level data, an excellent resource for both teaching and research. It is a must-read for anyone seeking to understand the dominance of East Asia in the industry."—Yuqing Xing, Professor of Economics, National Graduate Institute for Policy Studies"Henry Wai-chung Yeung's highly original and insightful book provides us understanding of a deeper and wider form of global production integration than that of global value chains. These are interconnected worlds of global production. The interdependencies that he captures shed light on new possibilities for global development, but also deep challenges and risks for global development policy, as well as global business."—Michael Storper, Professor of Economic Geography, London School of Economics; Distinguished Professor of Regional and International Development, UCLA"From startling revelations about the centrality of semiconductors in modern manufacturing to current debates on deglobalization, decoupling and the reshoring of global supply chains, the electronics industry has moved to center stage in public awareness. Interconnected Worlds could not be more timely in unpacking the regional roots of global electronics and bridging academic, firm strategy and policy domains."—Gary Gereffi, Emeritus Professor and Director of the Global Value Chains Center at Duke University, Durham, NC"This book is Yeung's remarkable update on his long-time study on electronic industry in Asia and the globe, comprising semi-conductors, cell phones, PCs and displays. It reflects his intellectual journey from his early focus on inter-national political economy to a new network approach on inter-firm and intra-firm production activities across national boundaries. It is timely and extremely helpful to understand the nature of the disruptions in global value chains since the US-China trade conflicts and the Covid-19, and also to derive effective responses to them."—Keun Lee, Distinguished Professor, Seoul National University; winner of the 2014 Schumpeter Prize"Yeung [has] made a significant contribution to our understanding of how the globe's most important technology-based industries are evolving."—Robert Huggins and Andrew Johnston, Eurasian Geography and Economics"[Interconnected Worlds] offers an empirical, grounded study that will inform research on the reconfiguration of global electronics production networks in the decades to follow... No doubt it will represent a 'benchmark for assessing changes in the early 2020s and beyond'."—Chun Yang, Regional Studies"Interconnected Worlds makes an excellent contribution to explaining the evolution of electronics GPNs by the integration of companies in East Asian [sic] or, alternatively, by tracking the shift of electornics GPNs to East Asia. It is a thorough and exhaustive piece of work and easily the most complete analysis of the electronics sector in East Asia and its integration with electronics GPNs."—Seamus Grimes, Economic GeographyTable of Contents1. Worlds of Electronics: From National Innovations to Global Production 2. Changing Fortunes in Global Electronics: A Brief History 3. Global Production Networks: A Theory of Interconnected Worlds 4. Geographical Configurations of Global Electronics Centered in East Asia 5. Firm Strategies and Organizational Innovations in Production Networks 6. Explaining Production Networks: Causal Drivers and Competitive Dynamics 7. Whither (De-)Globalized Electronics Production in the 2020s? Current Trajectories and Future Agendas

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Book SynopsisThis book provides a multidimensional analysis of Iran's struggle for development between 1970 and 2020. The past several decades in Iran have been a period of sluggish and noninclusive economic growth, ill-fated social engineering with an Islamic template, political repression, and extensive environmental degradation. The intellectual discourse surrounding the impediments of growth in Iran has been dominated by an exaggerated notion of the role of ideology, class struggles, imperialism, and histori-cal contingencies, overlooking the profound impacts of institutions and fundamental socioeconomic trends. This book aims to fill this gap using positive economics and data-driven analysis to cover a wide array of topics, such as governance, corruption, energy, and food security. It will be essential for researchers, policy makers, and journalists.Trade Review"The history of economic development in Iran, particularly in recent years, has been an enigma often wrapped in ideological fantasies of regime apologists or its determined foes. The Struggle for Development in Iran is a detailed multidisciplinary analysis of the many facets of this troubled history from the prism of data and reality, not illusion and ideological pieties. It is a must read for any student, scholar and policy maker interested in Iran's hitherto Sisyphean quest for economic development and political democracy."—Abbas Milani, Hamid and Christina Moghadam Director of Iranian Studies at Stanford University, Research Fellow at the Hoover Institution"The Struggle for Development in Iran provides a devastating account of the economic crisis the country faces today, as a result of the poor governance and weak institutions that have taken root since the 1979 Revolution. The wealth of empirical data contained in this volume is coupled with a dispassionate and informed analysis of the causes of present-day outcomes that will become a reference work for anyone interested in the future of Iran."—Francis Fukuyama, author of Political Order and Political Decay"A unique and superb contribution to the study of modern Iran that is rigorously researched, objectively written, and highly insightful. An invaluable resource for policymakers, scholars, and students of Iran."—Karim Sadjadpour, Carnegie Endowment for International PeaceTable of Contents1. Introduction 2. Governance 3. Demographic Trends 4. Labor Force and Human Capital 5. Economy 6. Financial Sector 7. Energy Sector 8. Agriculture Sector 9. Migration and Brain Drain 10. Research and Development Policy 11. Conclusion: The Path Forward

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Book SynopsisPoverty as Subsistence explores the "propertizing" land reform policy that the World Bank advocated throughout the transitioning countries of Eurasia, expecting poverty reduction to result from distributing property titles over agricultural land to local (rural) populations. China's early 1980s land reform offered support for this expectation, but while the spread of propertizing reform to post-communist Eurasia created numerous "subsistence" smallholders, it failed to stimulate entrepreneurship or market-based production among the rural poor. Varga argues that the World Bank advocated a simplified version of China's land reform that ignored a key element of successful reforms: the smallholders' immediate environment, the structure of actors and institutions determining whether smallholders survive and grow in their communities. With concrete insights from analysis of the land reform program throughout post-communist Eurasia and multisited fieldwork in Romania and Ukraine, this book details how and why land reform led to subsistence and the mechanisms underpinning informal commercialization.Trade Review"The creation of private property in land on the farms of post-communist Europe and Central Asia failed to produce a class of commercially-minded entrepreneurial farmers. Mihai Varga shows us why. This is a major book on post-communist agrarian change, with important insights of much wider contemporary relevance."—Haroon Akram-Lodhi, Trent University"Poverty as Subsistence is a must read for scholars, policy makers, and development practitioners considering land transfers and market-based solutions to rural poverty. Mihai Varga's timely analysis provides powerful insights on why and how agricultural reforms advocated by the World Bank and other agencies often undermine livelihoods of tightly knit rural economies."—Diana Mincyte, The City University of New York"This book demonstrates that the World Bank failed in post-communist transition by adopting a too narrow and ideological perspective on institutional reforms. It focused too much on creating individual property rights and not enough on the institutional environment of purchasing and distribution. Varga's insightful work reveals the result: that the World Bank reduced post-communist countries to a pre-war model of subsistence agriculture."—Mitchell A. Orenstein, University of Pennsylvania"As a work of sociology and political economy, Poverty as Subsistence adds to the critical studies of agrarian development in the contemporary era and raises new questions for scholars of environment and agrarian change.... Most crucially, the book demonstrates the continual relevance of land reform in agrarian economies and the versatile adaptation and resistance of rural people, showing that land is not simply an interchangeable property in the market but deeply rooted in interpersonal relationships and memory."—Leo Chu, H-EnvironmentTable of ContentsIntroduction: Poverty Reduction through Land Transfers 1. Pro-poor Reforms: The Propertizing Paradigm 2. Pro-poor Land Reform In Eurasia 3. The Reform Continuum: From China to Russia 4. Smallholders: A Fieldwork Study of Resilience and Resistance 5. Resilience: Survival and Growth of Smallholder Agriculture 6. Resistance: Smallholders against Commercialization Conclusions: The Limits of Pro-poor Land Reform

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Book SynopsisShadow Negotiators is the first book to demonstrate that United Nations (UN) organizations have intervened to influence the discourse, agenda, and outcomes of international trade lawmaking at the World Trade Organization (WTO). While UN organizations lack a seat at the bargaining table at the WTO, Matias E. Margulis argues that these organizations have acted as "shadow negotiators" engaged in political actions intended to alter the trajectory and results of multilateral trade negotiations. He draws on analysis of one of the most contested issues in global trade politics, agricultural trade liberalization, to demonstrate interventions by four different UN organizations—the Food and Agriculture Organization (FAO), the World Food Programme (WFP), the Office of the High Commissioner for Human Rights (OHCHR), and the Special Rapporteur on the Right to Food (SRRTF). By identifying several novel intervention strategies used by UN actors to shape the rules of global trade, this book shows that UN organizations chose to intervene in trade lawmaking not out of competition with the WTO or ideological resistance to trade liberalization, but out of concerns that specific trade rules could have negative consequences for world food security—an outcome these organizations viewed as undermining their social purpose to reduce world hunger and protect the human right to food.Trade Review"Shadow Negotiators is the most skillful demonstration to date of how international regime complexes emerge and shape global policy-making. A must read for anyone interested in the WTO and international regime complexity."—Karen J. Alter, Norman Dwight Harris Professor of International Relations, Northwestern University"Shadow Negotiators is both truly innovative and empirically sound – a combination that is rare. A must for those who are interested in international organizations and global governance."—Michael Zürn, Dean, Hertie School; Director of the Research Unit Global Governance, Berlin Social Science Center"Shadow Negotiators brilliantly shows how UN actors in food and agriculture have intervened to defend food security goals. Drawing on extensive research, Margulis makes a powerful case that international organizations employ a range of strategies to influence outcomes in international trade negotiations."—Jennifer Clapp, Professor, School of Environment, Resources and Sustainability, University of Waterloo"Margulis traces four cases, each illustrating a different method of intervention, and contributes to understandings of the growing complexity of international governance and the tensions betweencompetingeconomic values: economic liberalization and human security. Most specifically, the work contributes to a growing scholarship on regime complexes as analytic constructs in international relations, and advances an understanding of the independent interests of international organizations capable of autonomous action. Recommended."—S. P. Duffy, CHOICETable of ContentsIntroduction 1. Intervention by International Organizations 2. The Regime Complex for Food Security 3. The FAO: Mobilizing States to Protect Food Security 4. Don't Take Food from the Starving: The WFP Publicly Shames WTO Members 5. The OHCHR: Invoking Human Rights at the WTO 6. The UN Special Rapporteur on the Right to Food: "Food Security Hostage to Trade" Conclusion

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Book SynopsisThe Transatlantic Trade and Investment Partnership (TTIP) has stirred passions like no other trade negotiation in recent history. Its supporters maintain that TTIP will produce spectacular growth and job creation; claims that are wholeheartedly rejected by its critics, who regard TTIP as a direct assault on workers' rights, health and safety standards and public services. In this incisive analysis, Gabriel Siles-Brugge and Ferdi de Ville scrutinize the claims made by TTIP's cheerleaders and scaremongers to reveal a far more nuanced picture behind the headlines. TTIP will not provide an economic 'cure-all', nor will it destroy the European welfare state in one fell swoop. Thanks to unprecedented levels of protest and debate around TTIP, however, neoliberal trade negotiations are well and truly back in the spotlight. In this respect, TTIP could well prove to be a 'game-changer' - just not in the way imagined by its backers.Trade Review"This essential study should be read by anyone who cares about democracy and the sovereignty of parliaments. If you care, you should understand, and there is no better means of understanding than reading this book." George Monbiot "De Ville and Siles-Brügge�s book is a part of this burgeoning movement for change and a model of what popular explanation of complex economic and political issues should be: Clear, concise, cogent, even handed, and a call to action." Irish Examiner "This in-depth, systematic and sober analysis – deprived of any polemics – brilliantly demystifies the mega-trade deal. It is by far the most advanced piece of political economic thinking on TTIP to date." Pierre Defraigne, Executive Director, College of Europe Foundation "The TTIP has been hailed as Europe�s growth strategy out of the economic crisis. The critics meanwhile deride it as a job-killing machine that will serve the interests only of US multinationals. This useful and informative book brings the debate down to earth. While underlining the huge uncertainty that exists over likely outcomes, it shows that both sides overstate their case. It concludes that the treaty�s main impact will be to reinforce an existing trend whereby trade goals are increasingly narrowing the space for the articulation of domestic rules and regulations." Dani Rodrik, Harvard University "This convincingly argued and highly readable book is a much-needed intervention in the heated debate on the Transatlantic Trade and Investment Partnership (TTIP) between the EU and the USA. It is a must-read for all those trying to understand what is at stake in this free trade agreement which has sparked such controversy on both sides of the Atlantic." Brigitte Young, University of Münster "A balanced and informative account of the Trans-Atlantic Trade and Investment Partnership and its implications for the economy and society. This book will be a valuable resource for anyone trying to assess the TTIP with open eyes." Dean Baker, Co-Director, Center for Economic and Policy ResearchTable of Contents Acknowledgements List of tables and figures List of abbreviations Introduction 1 Growth and Jobs 2 Setting Global Standards 3 The Bottom Line: Cutting Red Tape 4 Challenging TTIP Conclusion: seizing the TTIP moment Notes References Index

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Book SynopsisThe Transatlantic Trade and Investment Partnership (TTIP) has stirred passions like no other trade negotiation in recent history. Its supporters maintain that TTIP will produce spectacular growth and job creation; claims that are wholeheartedly rejected by its critics, who regard TTIP as a direct assault on workers' rights, health and safety standards and public services. In this incisive analysis, Gabriel Siles-Brugge and Ferdi de Ville scrutinize the claims made by TTIP's cheerleaders and scaremongers to reveal a far more nuanced picture behind the headlines. TTIP will not provide an economic 'cure-all', nor will it destroy the European welfare state in one fell swoop. Thanks to unprecedented levels of protest and debate around TTIP, however, neoliberal trade negotiations are well and truly back in the spotlight. In this respect, TTIP could well prove to be a 'game-changer' - just not in the way imagined by its backers.Trade Review"This book provides a reasoned analysis of the TTIP in mid-negotiation, critically examining arguments made by its advocates and its critics, most of whom are in Europe." Foreign Affairs "This essential study should be read by anyone who cares about democracy and the sovereignty of parliaments. If you care, you should understand, and there is no better means of understanding than reading this book." George Monbiot "De Ville and Siles-Brügge�s book is a part of this burgeoning movement for change and a model of what popular explanation of complex economic and political issues should be: Clear, concise, cogent, even handed, and a call to action." Irish Examiner "This in-depth, systematic and sober analysis – deprived of any polemics – brilliantly demystifies the mega-trade deal. It is by far the most advanced piece of political economic thinking on TTIP to date." Pierre Defraigne, Executive Director, College of Europe Foundation "The TTIP has been hailed as Europe�s growth strategy out of the economic crisis. The critics meanwhile deride it as a job-killing machine that will serve the interests only of US multinationals. This useful and informative book brings the debate down to earth. While underlining the huge uncertainty that exists over likely outcomes, it shows that both sides overstate their case. It concludes that the treaty�s main impact will be to reinforce an existing trend whereby trade goals are increasingly narrowing the space for the articulation of domestic rules and regulations." Dani Rodrik, Harvard University "This convincingly argued and highly readable book is a much-needed intervention in the heated debate on the Transatlantic Trade and Investment Partnership (TTIP) between the EU and the USA. It is a must-read for all those trying to understand what is at stake in this free trade agreement which has sparked such controversy on both sides of the Atlantic." Brigitte Young, University of Münster "A balanced and informative account of the Trans-Atlantic Trade and Investment Partnership and its implications for the economy and society. This book will be a valuable resource for anyone trying to assess the TTIP with open eyes." Dean Baker, Co-Director, Center for Economic and Policy ResearchTable of Contents Acknowledgements List of tables and figures List of abbreviations Introduction 1 Growth and Jobs 2 Setting Global Standards 3 The Bottom Line: Cutting Red Tape 4 Challenging TTIP Conclusion: seizing the TTIP moment Notes References Index

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Book SynopsisThe IMF stands at a crossroad. Derided as increasingly irrelevant in the first decade of the new millennium, the Fund has had its power and prestige restored by the fallout from the 2008 global financial crisis. But will the resurgent IMF assert a more just and sustainable macroeconomic model and provide a voice for poor and marginalized people around the globe? Or will enduring weaknesses within the IMF mean it fails to address these issues? In this book, Bessma Momani and Mark R. Hibben dissect the variables and institutional dynamics at play in IMF governance, surveillance, lending, and capacity development to expose the fundamental barriers to change. Identifying four areas that could “fix” the IMF, they show how these genuine and workable solutions can give the IMF the effectiveness and legitimacy it needs to positively shape twenty-first-century global governance and push back against volatile and regressive forces in the international political economy.Trade Review"This book draws upon the authors' broad experience to paint a portrait of an institution under challenge and highlights changes that could strengthen the IMF. It should be read by students, policy analysts and officials alike for its timely insights." Thomas A. Bernes, Distinguished Fellow and former President, Centre for International Governance Innovation "There are some problems no government can fix without cooperation. That's why the IMF is needed. This useful book sets out some of the critiques of the IMF along with ideas about reforms which could help the institution do better." Ngaire Woods, University of OxfordTable of ContentsPREFACE LIST OF ABBREVIATIONS LIST OF FIGURES, TABLES, PLATES ACKNOWLEDGEMENTS DEDICATION PART 1: DIAGNOSING THE ILLS CHAPTER 1: WHAT IS WRONG WITH THE IMF? CHAPTER 2: GOVERNANCE AND DECISION-MAKING CHAPTER 3: SURVEILLANCE CHAPTER 4: LENDING AND CONDITIONALITY CHAPTER 5: CAPACITY DEVELOPMENT PART 2: FINDING A CURE CHAPTER 6 DEMOCRATIZE GOVERNANCE AND DECISION MAKING CHAPTER 7 DIVERSIFY THE IMF STAFF CHAPTER 8 COMMIT TO INCLUSIVE GROWTH CHAPTER 9 ENHANCE MULTILATERAL PARTNERSHIPS CHAPTER 10 CLOSING THE HYPOCRISY GAP REFERENCES INDEX

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Book SynopsisThe IMF stands at a crossroad. Derided as increasingly irrelevant in the first decade of the new millennium, the Fund has had its power and prestige restored by the fallout from the 2008 global financial crisis. But will the resurgent IMF assert a more just and sustainable macroeconomic model and provide a voice for poor and marginalized people around the globe? Or will enduring weaknesses within the IMF mean it fails to address these issues? In this book, Bessma Momani and Mark R. Hibben dissect the variables and institutional dynamics at play in IMF governance, surveillance, lending, and capacity development to expose the fundamental barriers to change. Identifying four areas that could “fix” the IMF, they show how these genuine and workable solutions can give the IMF the effectiveness and legitimacy it needs to positively shape twenty-first-century global governance and push back against volatile and regressive forces in the international political economy.Trade Review"This book draws upon the authors' broad experience to paint a portrait of an institution under challenge and highlights changes that could strengthen the IMF. It should be read by students, policy analysts and officials alike for its timely insights." Thomas A. Bernes, Distinguished Fellow and former President, Centre for International Governance Innovation "There are some problems no government can fix without cooperation. That's why the IMF is needed. This useful book sets out some of the critiques of the IMF along with ideas about reforms which could help the institution do better." Ngaire Woods, University of OxfordTable of ContentsPREFACE LIST OF ABBREVIATIONS LIST OF FIGURES, TABLES, PLATES ACKNOWLEDGEMENTS DEDICATION PART 1: DIAGNOSING THE ILLS CHAPTER 1: WHAT IS WRONG WITH THE IMF? CHAPTER 2: GOVERNANCE AND DECISION-MAKING CHAPTER 3: SURVEILLANCE CHAPTER 4: LENDING AND CONDITIONALITY CHAPTER 5: CAPACITY DEVELOPMENT PART 2: FINDING A CURE CHAPTER 6 DEMOCRATIZE GOVERNANCE AND DECISION MAKING CHAPTER 7 DIVERSIFY THE IMF STAFF CHAPTER 8 COMMIT TO INCLUSIVE GROWTH CHAPTER 9 ENHANCE MULTILATERAL PARTNERSHIPS CHAPTER 10 CLOSING THE HYPOCRISY GAP REFERENCES INDEX

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Book SynopsisChocolate has long been a favorite indulgence. But behind every chocolate bar we unwrap, there is a world of power struggles and political maneuvering over its most important ingredient: cocoa. In this incisive book, Kristy Leissle reveals how cocoa, which brings pleasure and wealth to relatively few, depends upon an extensive global trade system that exploits the labor of five million growers, as well as countless other workers and vulnerable groups. The reality of this dramatic inequity, she explains, is often masked by the social, cultural, emotional, and economic values humans have placed upon cocoa from its earliest cultivation in Mesoamerica to the present day. Tracing the cocoa value chain from farms in Africa, Asia, Latin America, and the Caribbean, through to chocolate factories in Europe and North America, Leissle shows how cocoa has been used as a political tool to wield power over others. Cocoa's politicization is not, however, limitless: it happens within botanical parameters set by the crop itself, and the material reality of its transport, storage, and manufacture into chocolate. As calls for justice in the industry have grown louder, Leissle reveals the possibilities for and constraints upon realizing a truly sustainable and fulfilling livelihood for cocoa growers, and for keeping the world full of chocolate.Trade Review"In this fascinating analysis, Kristy Leissle explores the rich history of the global cocoa sector and the changing dynamics of the chocolate confectionery industry. It will be an essential resource for anyone wanting to promote a more sustainable future for cocoa."—Stephanie Barrientos, University of Manchester "Kristy Leissle's book offers an insightful critique of power relations in the world of cocoa. Addressing issues that are often not known or misunderstood in the public arena, this clear and compelling text is a must-read for students, scholars and activists."—Amanda Berlan, De Montfort University "A concise analysis of the inequalities that pervade an industry of 5m growers, spread across the tropics."—Financial Times "You will never look at chocolate in the same way again."—GeographicalTable of ContentsContents Abbreviations Figures and Tables Acknowledgments 1 Introduction 2 World Cocoa Map 3 Stages of Sweet 4 Power in the Market 5 Economics on the Ground 6 Trade Justice 7 Governing Quality 8 Sustainable Futures Notes Selected Readings Index

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Book SynopsisThe recent downturn in the Chinese economy has become a focal point of global attention, with some analysts warning that China is edging dangerously close to economic meltdown. Is it possible that the second largest economy in the world could collapse and drag the rest of the world with it? In this penetrating essay, Ann Lee explains both why China's economy will not sink us all and the policy options on which it is drawing on to mitigate against such a catastrophic scenario. Dissecting with realistic clarity the challenges facing the Chinese economy, she makes a compelling case for its continued robustness in multiple sectors in the years ahead.Trade Review"Bold and flexible leadership is likely to sustain bright economic prospects for China despite its slowing growth rate and aging population. That is the bottom line of this illuminating analysis of how challenges in the world's second largest economy are being met." James Hoge, Editor of Foreign Affairs, 1991-2010 “In this well-informed book Ann Lee asks "Will China’s economy collapse?" To answer this profound question, she looks deep below the surface to examine the stability of China's governance structure, economic growth model, financial system and geopolitical situation. Anyone interested in China's future and its global implications would do well to read this book.” Alan Krueger, Princeton University"This is a very helpful book."Defense & Foreign AffairsTable of Contents Table of Contents Acknowledgements Preface Chapter One: The Modern Chinese Economy: the Good, the Bad, and the Ugly Chapter Two: Preparing for a Soft Landing Chapter Three: Even Black Swans Won’t Kill Chapter Four: Can China’s Economy Lift Us All? Epilogue Notes

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Book SynopsisThe recent downturn in the Chinese economy has become a focal point of global attention, with some analysts warning that China is edging dangerously close to economic meltdown. Is it possible that the second largest economy in the world could collapse and drag the rest of the world with it? In this penetrating essay, Ann Lee explains both why China's economy will not sink us all and the policy options on which it is drawing on to mitigate against such a catastrophic scenario. Dissecting with realistic clarity the challenges facing the Chinese economy, she makes a compelling case for its continued robustness in multiple sectors in the years ahead.Trade Review"Bold and flexible leadership is likely to sustain bright economic prospects for China despite its slowing growth rate and aging population. That is the bottom line of this illuminating analysis of how challenges in the world's second largest economy are being met." James Hoge, Editor of Foreign Affairs, 1991-2010 “In this well-informed book Ann Lee asks "Will China’s economy collapse?" To answer this profound question, she looks deep below the surface to examine the stability of China's governance structure, economic growth model, financial system and geopolitical situation. Anyone interested in China's future and its global implications would do well to read this book.” Alan Krueger, Princeton University"This is a very helpful book."Defense & Foreign AffairsTable of Contents Table of Contents Acknowledgements Preface Chapter One: The Modern Chinese Economy: the Good, the Bad, and the Ugly Chapter Two: Preparing for a Soft Landing Chapter Three: Even Black Swans Won’t Kill Chapter Four: Can China’s Economy Lift Us All? Epilogue Notes

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Book SynopsisWith protectionist sentiment and economic nationalism on the rise, international trade and how it is governed is at the heart of some of the most important contemporary economic and political debates. Comprehensive and clear, this book skilfully outlines and analyses the dynamics of trade in the 21st century. Ken Heydon examines three broad themes: the nature and distribution of the gains from trade, the institutional and governance framework of the international trade system, and the contentious practical issues confronting policy-makers across the world. He considers pressing contemporary debates surrounding issues ranging from agriculture and food security to the links between trade and environment protection, core labour standards and intellectual property rights. He demonstrates the importance of a change of mindset in terms of how we see trade policy: it should not, he argues, be simply a question of international negotiation, but also a key component of sound domestic economic management. In short, we need to put commerce in context. Drawing on the author’s experience as a policy practitioner, trade policy analyst and teacher, the volume is informed by an extensive analysis of the literature and by relevant case studies. It is designed for students and scholars of international political economy and trade policy, trade officials, and the general public.Trade Review"[A] well-written introduction to the world trading system as it actually exists today"Foreign Affairs"At a time of instability and change in the multilateral trading order, the issues raised by this book deserve critical, ongoing consideration."Journal of Australian Political EconomyTable of ContentsList of Case Studies List of Figures Abbreviations Structure: The Building Blocks Introduction: Echoes of Mercantilism Part 1: The Gains from Trade: Winners and Losers Chapter 1: The Political Economy of Trade: The Domestic Setting Chapter 2: Trade, Growth and Development Chapter 3: Trade, Investment and the Global Value Chain Part 2: The Institutional Framework Chapter 4: The Systemic Threats to the Multilateral Trading Order Chapter 5: The Rise of Preferential Trade Agreements Part 3: Confronting the Issues Chapter 6: Distortions to Trade in Manufactures Chapter 7: The Special Case of Agriculture Chapter 8: Negotiating Services and Investment Chapter 9: Competition Policy and the Role of the Firm Chapter 10: Trade Links to Environment, Labour Standards and Property Rights Conclusion: Putting Commerce in Context Acknowledgements Notes References Index

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Book SynopsisLooming trade wars and rising nationalism have stirred troubling memories of the 1930s. Will history repeat itself? Do we face the chaotic breakdown of the global economic system in the face of stagnation, protectionism and political tumult? Jeremy Green argues that, although we face grave problems, globalization is not about to end. Setting today’s challenges within a longer historical context, he demonstrates that the global economy is more interconnected than ever before and the costs of undoing it high enough to make a complete breakdown unlikely. Popular analogies between the 1930s and today are misleading. But the governing liberal ideology of globalisation is changing. It is mutating into a hard-edged nationalism that defends free markets while reasserting sovereignty and strengthening borders. This ‘national liberalism’ threatens a much more dangerous disintegration, fuelled by inequality and ecological crisis, unless we radically rethink the international status quo. This brilliantly original account of the discontents of globalization is a must-read both for concerned citizens and students of global political economy.Table of ContentsChapter One: The crisis of globalization Chapter Two: Globalization’s four liberalisms Chapter Three: Why we are not in the 1930s Chapter Four: Neoliberalism unravelling Chapter Five: Planning of the Anthropocene Chapter Six: Global futures

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Book SynopsisLooming trade wars and rising nationalism have stirred troubling memories of the 1930s. Will history repeat itself? Do we face the chaotic breakdown of the global economic system in the face of stagnation, protectionism and political tumult? Jeremy Green argues that, although we face grave problems, globalization is not about to end. Setting today’s challenges within a longer historical context, he demonstrates that the global economy is more interconnected than ever before and the costs of undoing it high enough to make a complete breakdown unlikely. Popular analogies between the 1930s and today are misleading. But the governing liberal ideology of globalisation is changing. It is mutating into a hard-edged nationalism that defends free markets while reasserting sovereignty and strengthening borders. This ‘national liberalism’ threatens a much more dangerous disintegration, fuelled by inequality and ecological crisis, unless we radically rethink the international status quo. This brilliantly original account of the discontents of globalization is a must-read both for concerned citizens and students of global political economy.Table of ContentsChapter One: The crisis of globalization Chapter Two: Globalization’s four liberalisms Chapter Three: Why we are not in the 1930s Chapter Four: Neoliberalism unravelling Chapter Five: Planning of the Anthropocene Chapter Six: Global futures

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Book SynopsisAn outline of all the contracted obligations of former recognized Chinese governments and China's potential financial capacity.

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Book SynopsisReassessing interpretations of development with a new approach to fair trade Is fair trade really fair? Who is it for, and who gets to decide? Fair Trade Rebels addresses such questions in a new way by shifting the focus from the abstract concept of fair trade—and whether it is “working”—to the perspectives of small farmers. It examines the everyday experiences of resistance and agricultural practice among the campesinos/as of Chiapas, Mexico, who struggle for dignified livelihoods in self-declared autonomous communities in the highlands, confronting inequalities locally in what is really a global corporate agricultural chain.Based on extensive fieldwork, Fair Trade Rebels draws on stories from Chiapas that have emerged from the farmers’ interaction with both the fair-trade–certified marketplace and state violence. Here Lindsay Naylor discusses the racialized and historical backdrop of coffee production and rebel autonomy in the highlands, underscores the divergence of movements for fairer trade and the so-called alternative certified market, traces the network of such movements from the highlands and into the United States, and evaluates existing food sovereignty and diverse economic exchanges. Putting decolonial thinking in conversation with diverse economies theory, Fair Trade Rebels evaluates fair trade not by the measure of its success or failure but through a unique, place-based approach that expands our understanding of the relationship between fair trade, autonomy, and economic development.Trade Review"Fair Trade Rebels makes a critically important contribution to the growing field of diverse economies scholarship by providing an ethnographically rich, nuanced analysis of how diverse economic identities and practices are shaped by multi-scalar power relations and the reinforcement of existing, place-based, political–economic subjectivities. Lindsay Naylor’s empirical grounding makes this text especially useful for students who are studying how theoretical constructs manifest in daily practice and looking for methodological tools they might use to answer their own research questions."—Sarah Lyon, University of Kentucky"Fair Trade Rebels does more than offer a vivid case study of Indigenous coffee producers ‘in resistance’ in Chiapas. Lindsay Naylor’s admonition to understand fair trade certification and production as only one strand in a complex web of livelihood, political, and identity practices deployed by communities and organizations is an important corrective to purely market-centric narratives."—Daniel Jaffee, author of Brewing Justice: Fair Trade Coffee, Sustainability, and Survival"Every once in a while, a book comes along that pushes us look at an important debate in a whole new light. Fair Trade Rebels is one of those books, offering a masterful rethinking of the political–economic possibilities of fair trade commerce. Lindsay Naylor skillfully leads readers through familiar arguments—fair trade is an alternative to capitalism, fair trade is a way to make capitalism work for people, fair trade is a neoliberal solution to neoliberal problems. Then she shows how none of those arguments do justice to the inspiring struggles of Mayan coffee producers in highland Chiapas who harness fair trade coffee production to a broader movement for Indigenous autonomy. In this, Fair Trade Rebels paints a gripping picture of Indigenous groups fighting to rework market relations with deep colonial roots into the stuff of resistance."—Aaron Bobrow-Strain, author of Intimate Enemies: Landowners, Power, and Violence in Chiapas

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Book SynopsisReassessing interpretations of development with a new approach to fair trade Is fair trade really fair? Who is it for, and who gets to decide? Fair Trade Rebels addresses such questions in a new way by shifting the focus from the abstract concept of fair trade—and whether it is “working”—to the perspectives of small farmers. It examines the everyday experiences of resistance and agricultural practice among the campesinos/as of Chiapas, Mexico, who struggle for dignified livelihoods in self-declared autonomous communities in the highlands, confronting inequalities locally in what is really a global corporate agricultural chain.Based on extensive fieldwork, Fair Trade Rebels draws on stories from Chiapas that have emerged from the farmers’ interaction with both the fair-trade–certified marketplace and state violence. Here Lindsay Naylor discusses the racialized and historical backdrop of coffee production and rebel autonomy in the highlands, underscores the divergence of movements for fairer trade and the so-called alternative certified market, traces the network of such movements from the highlands and into the United States, and evaluates existing food sovereignty and diverse economic exchanges. Putting decolonial thinking in conversation with diverse economies theory, Fair Trade Rebels evaluates fair trade not by the measure of its success or failure but through a unique, place-based approach that expands our understanding of the relationship between fair trade, autonomy, and economic development.Trade Review"Fair Trade Rebels makes a critically important contribution to the growing field of diverse economies scholarship by providing an ethnographically rich, nuanced analysis of how diverse economic identities and practices are shaped by multi-scalar power relations and the reinforcement of existing, place-based, political–economic subjectivities. Lindsay Naylor’s empirical grounding makes this text especially useful for students who are studying how theoretical constructs manifest in daily practice and looking for methodological tools they might use to answer their own research questions."—Sarah Lyon, University of Kentucky"Fair Trade Rebels does more than offer a vivid case study of Indigenous coffee producers ‘in resistance’ in Chiapas. Lindsay Naylor’s admonition to understand fair trade certification and production as only one strand in a complex web of livelihood, political, and identity practices deployed by communities and organizations is an important corrective to purely market-centric narratives."—Daniel Jaffee, author of Brewing Justice: Fair Trade Coffee, Sustainability, and Survival"Every once in a while, a book comes along that pushes us look at an important debate in a whole new light. Fair Trade Rebels is one of those books, offering a masterful rethinking of the political–economic possibilities of fair trade commerce. Lindsay Naylor skillfully leads readers through familiar arguments—fair trade is an alternative to capitalism, fair trade is a way to make capitalism work for people, fair trade is a neoliberal solution to neoliberal problems. Then she shows how none of those arguments do justice to the inspiring struggles of Mayan coffee producers in highland Chiapas who harness fair trade coffee production to a broader movement for Indigenous autonomy. In this, Fair Trade Rebels paints a gripping picture of Indigenous groups fighting to rework market relations with deep colonial roots into the stuff of resistance."—Aaron Bobrow-Strain, author of Intimate Enemies: Landowners, Power, and Violence in Chiapas

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Book SynopsisA groundbreaking feminist perspective on Movimiento al Socialismo (MAS) rule in Bolivia and the country’s radical transformation under Evo Morales The presidency of Evo Morales in Bolivia (2006–2019) has produced considerable academic scholarship, much of it focused on indigenous social movements or extractivism, and often triumphalist about the successes of Morales’s Movimiento al Socialismo (MAS). Turning a new lens on the movement, Cash, Clothes, and Construction presents the first gender-based analysis of “pluri-economy,” a central pillar of Bolivia’s program under Morales, evaluating the potential of this vision of “an economy where all economies fit” to embrace feminist critiques of capitalism and economic diversity. Based on more than twelve years of empirical research exploring the remarkable transformations in Bolivia since 2006, this book focuses on three sectors—finance, clothing, and construction—in which indigenous women have defied gendered expectations. Kate Maclean presents detailed case studies of women selling secondhand high street clothes from the United States in the vast, peri-urban markets of Bolivian cities; Aymaran designers of new pollera (traditional Andean dress) fashions, one of whom exhibited her collection in New York City; and the powerful and rich chola paceña, whose real estate investments have transformed the cultural maps of La Paz and El Alto. Cash, Clothes, and Construction offers a gendered analysis of the mission of MAS to dismantle neoliberalism and decolonize politics and economy from the perspective of the Indigenous women who have radically transformed Bolivia’s economy from the ground up. Trade Review "At times, it feels like the global capitalist system is the only way to organize the urban economy, but in this exciting book, Kate Maclean offers absorbing insight into a place where quite different economic worlds are enacted. Based on in-depth research conducted over many years, this book constitutes a timely intervention into the entangled workings of economic plurality, cultural power, and urban change." —Julie Cupples, University of Edinburgh

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Book SynopsisA groundbreaking feminist perspective on Movimiento al Socialismo (MAS) rule in Bolivia and the country’s radical transformation under Evo Morales The presidency of Evo Morales in Bolivia (2006–2019) has produced considerable academic scholarship, much of it focused on indigenous social movements or extractivism, and often triumphalist about the successes of Morales’s Movimiento al Socialismo (MAS). Turning a new lens on the movement, Cash, Clothes, and Construction presents the first gender-based analysis of “pluri-economy,” a central pillar of Bolivia’s program under Morales, evaluating the potential of this vision of “an economy where all economies fit” to embrace feminist critiques of capitalism and economic diversity. Based on more than twelve years of empirical research exploring the remarkable transformations in Bolivia since 2006, this book focuses on three sectors—finance, clothing, and construction—in which indigenous women have defied gendered expectations. Kate Maclean presents detailed case studies of women selling secondhand high street clothes from the United States in the vast, peri-urban markets of Bolivian cities; Aymaran designers of new pollera (traditional Andean dress) fashions, one of whom exhibited her collection in New York City; and the powerful and rich chola paceña, whose real estate investments have transformed the cultural maps of La Paz and El Alto. Cash, Clothes, and Construction offers a gendered analysis of the mission of MAS to dismantle neoliberalism and decolonize politics and economy from the perspective of the Indigenous women who have radically transformed Bolivia’s economy from the ground up. Trade Review "At times, it feels like the global capitalist system is the only way to organize the urban economy, but in this exciting book, Kate Maclean offers absorbing insight into a place where quite different economic worlds are enacted. Based on in-depth research conducted over many years, this book constitutes a timely intervention into the entangled workings of economic plurality, cultural power, and urban change." —Julie Cupples, University of Edinburgh

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Book SynopsisIn an era of post-globalization, the global political economy needs restructuring. This textbook examines the challenges facing the world economy as a result of climate change and social and economic inequality, and provides future-oriented solutions to them. Andersson presents and explains key concepts from Global Political Economy to show how to design and analyse potential reconstructions of the economic system. With a comprehensive exploration of the different ideological pathways that change might take, and taking account of gender, race and class, the author expertly guides the reader through thematic chapters, including: • the political economy of everyday life; • the regulation of global trade; • post-development; • the production of global value chains; • financial markets. This book will help readers see that global economic change is possible and support clear thinking about a global future that is environmentally, socially and economically sustainable.Table of ContentsChange Is Possible and Necessary; The Political Economy of Everyday Life; Markets Are What We Make Them; Trade Constructs; What Development?; Financial Markets and the Future; Globalized Production; Do Not Waste a Crisis.

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Book SynopsisIn an era of post-globalization, the global political economy needs restructuring. This textbook examines the challenges facing the world economy as a result of climate change and social and economic inequality, and provides future-oriented solutions to them. Andersson presents and explains key concepts from Global Political Economy to show how to design and analyse potential reconstructions of the economic system. With a comprehensive exploration of the different ideological pathways that change might take, and taking account of gender, race and class, the author expertly guides the reader through thematic chapters, including: • the political economy of everyday life; • the regulation of global trade; • post-development; • the production of global value chains; • financial markets. This book will help readers see that global economic change is possible and support clear thinking about a global future that is environmentally, socially and economically sustainable.Table of ContentsChange Is Possible and Necessary; The Political Economy of Everyday Life; Markets Are What We Make Them; Trade Constructs; What Development?; Financial Markets and the Future; Globalized Production; Do Not Waste a Crisis.

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Book SynopsisThe COVID-19 pandemic is a Rorschach test for society: everyone sees something different in it, and the range of political and economic responses to the crisis can leave us feeling overwhelmed. This book cuts through the confusion, dissecting the new post-coronavirus capitalism into several policy areas and spheres of action to inform academic, policy and public discourse. Covering all the major aspects of contemporary capitalism that have been affected by the pandemic, Andreas Nölke deftly analyses the impacts of the crisis on our socio-economic and political systems. Signposting a new era for global capitalism, he offers alternatives for future economic development in the wake of COVID-19.Table of Contents1. Introduction: Confronting a Multidimensional Crisis of Capitalism Part 1: Capitalism and Society 2. Health Systems: Private or Public? 3. Welfare State: Restoration or Universal Basic Income? 4. Reproductive Work: Positive Re-evaluation or the Same Old Neglect? 5. Gendered Occupations: Equality or Back to Traditional Patterns? 6. Migration: Closed Borders or Open Doors? 7. Inequality: Increase or Reduction? Part 2: Domestic Institutions of Capitalism on the Demand Side 8. Monetary Policy: Democratic or Technocratic? 9. Fiscal Policy: Absolute Ceiling or no Limits to Deficit Spending? 10. Tax Policy: Conventional or Unconventional Measures? 11. Industrial Policy: Laissez-faire or State Leadership? Part 3: Domestic Institutions of Capitalism on the Supply Side 12. Corporate Governance: Public Responsibility or Shareholder Value? 13. Finance: Fragile or Stable? 14. Industrial Relations and Training: Strengthening or Weakening of Unions? 15. Innovation: Frugal or Radical? 16. Competition Policy: Economic Concentration as Vice or Virtue? Part 4: The International Institutions of Capitalism 17. Global Production Networks: Diversification or Reshoring? 18. Foreign Direct Investment: Promotion or Restriction? 19. Investor–State Dispute Settlement: Business as Usual or Moratorium? 20. Trade Policy: Liberalism or Protectionism? 21. Intellectual Property Rights: Global Commons for Vaccines or Private Property? 22. Global Health Governance: Intergovernmental or Private–Public Networks? 23. Foreign Debt in the Global South: Permanent Write-off or Temporary Relief? Part 5: Anthropocene Capitalism 24. Climate Change: Cheap Dirty Energy or Green New Deal? 25. Degrowth: Necessity or Fantasy? 26. Agriculture: Global Supply Chains or Local Community Support? Part 6: Geo-economic Shifts in Global Capitalism 27. China–US Struggle for Global Economic Hegemony: Contender or Incumbent? 28. EU Economic Governance: Erosion or Integration? 29. The Political Economy of Security: Less or More Protection? Part 7: Ideologies in Contemporary Capitalism 30. Authoritarian or Democratic Capitalism? 31. Liberal or Organized Capitalism? 32. Communitarian or Cosmopolitan Capitalism? 33. Conclusion: Competing Visions of Capitalism and their Perspectives

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Book SynopsisThe COVID-19 pandemic is a Rorschach test for society: everyone sees something different in it, and the range of political and economic responses to the crisis can leave us feeling overwhelmed. This book cuts through the confusion, dissecting the new post-coronavirus capitalism into several policy areas and spheres of action to inform academic, policy and public discourse. Covering all the major aspects of contemporary capitalism that have been affected by the pandemic, Andreas Nölke deftly analyses the impacts of the crisis on our socio-economic and political systems. Signposting a new era for global capitalism, he offers alternatives for future economic development in the wake of COVID-19.Table of Contents1. Introduction: Confronting a Multidimensional Crisis of Capitalism Part 1: Capitalism and Society 2. Health Systems: Private or Public? 3. Welfare State: Restoration or Universal Basic Income? 4. Reproductive Work: Positive Re-evaluation or the Same Old Neglect? 5. Gendered Occupations: Equality or Back to Traditional Patterns? 6. Migration: Closed Borders or Open Doors? 7. Inequality: Increase or Reduction? Part 2: Domestic Institutions of Capitalism on the Demand Side 8. Monetary Policy: Democratic or Technocratic? 9. Fiscal Policy: Absolute Ceiling or no Limits to Deficit Spending? 10. Tax Policy: Conventional or Unconventional Measures? 11. Industrial Policy: Laissez-faire or State Leadership? Part 3: Domestic Institutions of Capitalism on the Supply Side 12. Corporate Governance: Public Responsibility or Shareholder Value? 13. Finance: Fragile or Stable? 14. Industrial Relations and Training: Strengthening or Weakening of Unions? 15. Innovation: Frugal or Radical? 16. Competition Policy: Economic Concentration as Vice or Virtue? Part 4: The International Institutions of Capitalism 17. Global Production Networks: Diversification or Reshoring? 18. Foreign Direct Investment: Promotion or Restriction? 19. Investor–State Dispute Settlement: Business as Usual or Moratorium? 20. Trade Policy: Liberalism or Protectionism? 21. Intellectual Property Rights: Global Commons for Vaccines or Private Property? 22. Global Health Governance: Intergovernmental or Private–Public Networks? 23. Foreign Debt in the Global South: Permanent Write-off or Temporary Relief? Part 5: Anthropocene Capitalism 24. Climate Change: Cheap Dirty Energy or Green New Deal? 25. Degrowth: Necessity or Fantasy? 26. Agriculture: Global Supply Chains or Local Community Support? Part 6: Geo-economic Shifts in Global Capitalism 27. China–US Struggle for Global Economic Hegemony: Contender or Incumbent? 28. EU Economic Governance: Erosion or Integration? 29. The Political Economy of Security: Less or More Protection? Part 7: Ideologies in Contemporary Capitalism 30. Authoritarian or Democratic Capitalism? 31. Liberal or Organized Capitalism? 32. Communitarian or Cosmopolitan Capitalism? 33. Conclusion: Competing Visions of Capitalism and their Perspectives

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Book SynopsisWritten by leading historians of the mid–nineteenth century United States, this book focuses on the continental dimensions of the U.S. Civil War. It joins a growing body of scholarship that seeks to understand the place of America’s mid-nineteenth-century crisis in the broader sweep of world history. However, unlike other studies that have pursued the Civil War’s connections with Europe and the Caribbean, this volume focuses on North America, particularly Mexico, British Canada, and sovereign indigenous states in the West. As the United States went through its Civil War and Reconstruction, Mexico endured its own civil war and then waged a four-year campaign to expel a French-imposed monarch. Meanwhile, Britain’s North American colonies were in complex and contested negotiations that culminated in confederation in 1867. In the West, indigenous nations faced an onslaught of settlers and soldiers seeking to conquer their lands for the United States. Yet despite this synchronicity, mainstream histories of the Civil War mostly ignore its connections to the political upheaval occurring elsewhere in North America. By reading North America into the history of the Civil War, this volume shows how battles over sovereignty in neighboring states became enmeshed with the fratricidal conflict in the United States. Its contributors explore these entangled histories in studies ranging from African Americans fleeing U.S. slavery by emigrating to Mexico to Confederate privateers finding allies in Halifax, Nova Scotia. This continental perspective highlights the uncertainty of the period when the fate of old nations and possibilities for new ones were truly up for grabs.Table of ContentsIntroduction: The United States Civil War Era and Sovereignty on the North American Continent Brian Schoen and Frank Towers | 1 1 Fugitive Slaves, Free Soil, and the Contest over Sovereignty in the U.S.–Mexico Borderlands, 1821–1867 Alice L. Baumgartner | 19 2 Inveterate Imperialists: Contested Imperialisms, North American History, and the Coming of the U.S. Civil War John Craig Hammond | 36 3 Walker to Riel: State Consolidation on the Margins of Empire Amy S. Greenberg | 65 4 Reform Wars, Royal Visits, and U.S. Views of Popular Sovereignty in 1860 Brian Schoen | 85 5 “The Pirates and Their Abettors in This Province”: Sovereignty, Violence, and Confederate Operations in Britain’s Atlantic Colonies, 1863–1865 Beau Cleland | 119 6 “A Long-Cherished Plan”: Detroit and the U.S. Annexation of Canada during the Nineteenth Century John W. Quist | 152 7 From Memphis to Mexico: The U.S. Army’s Assertion of Sovereignty during Reconstruction Andrew L. Slap | 174 8 “Hold the Fort”: Securing the Soldiers’ State in Nineteenth-Century America Susan-Mary Grant | 189 Conclusion: Law and Order in Nineteenth-Century North America Brian Schoen and Frank Towers | 221 Acknowledgments | 229 List of Contributors | 231 Index | 233

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Book SynopsisWritten by leading historians of the mid–nineteenth century United States, this book focuses on the continental dimensions of the U.S. Civil War. It joins a growing body of scholarship that seeks to understand the place of America’s mid-nineteenth-century crisis in the broader sweep of world history. However, unlike other studies that have pursued the Civil War’s connections with Europe and the Caribbean, this volume focuses on North America, particularly Mexico, British Canada, and sovereign indigenous states in the West. As the United States went through its Civil War and Reconstruction, Mexico endured its own civil war and then waged a four-year campaign to expel a French-imposed monarch. Meanwhile, Britain’s North American colonies were in complex and contested negotiations that culminated in confederation in 1867. In the West, indigenous nations faced an onslaught of settlers and soldiers seeking to conquer their lands for the United States. Yet despite this synchronicity, mainstream histories of the Civil War mostly ignore its connections to the political upheaval occurring elsewhere in North America. By reading North America into the history of the Civil War, this volume shows how battles over sovereignty in neighboring states became enmeshed with the fratricidal conflict in the United States. Its contributors explore these entangled histories in studies ranging from African Americans fleeing U.S. slavery by emigrating to Mexico to Confederate privateers finding allies in Halifax, Nova Scotia. This continental perspective highlights the uncertainty of the period when the fate of old nations and possibilities for new ones were truly up for grabs.Table of ContentsIntroduction: The United States Civil War Era and Sovereignty on the North American Continent Brian Schoen and Frank Towers | 1 1 Fugitive Slaves, Free Soil, and the Contest over Sovereignty in the U.S.–Mexico Borderlands, 1821–1867 Alice L. Baumgartner | 19 2 Inveterate Imperialists: Contested Imperialisms, North American History, and the Coming of the U.S. Civil War John Craig Hammond | 36 3 Walker to Riel: State Consolidation on the Margins of Empire Amy S. Greenberg | 65 4 Reform Wars, Royal Visits, and U.S. Views of Popular Sovereignty in 1860 Brian Schoen | 85 5 “The Pirates and Their Abettors in This Province”: Sovereignty, Violence, and Confederate Operations in Britain’s Atlantic Colonies, 1863–1865 Beau Cleland | 119 6 “A Long-Cherished Plan”: Detroit and the U.S. Annexation of Canada during the Nineteenth Century John W. Quist | 152 7 From Memphis to Mexico: The U.S. Army’s Assertion of Sovereignty during Reconstruction Andrew L. Slap | 174 8 “Hold the Fort”: Securing the Soldiers’ State in Nineteenth-Century America Susan-Mary Grant | 189 Conclusion: Law and Order in Nineteenth-Century North America Brian Schoen and Frank Towers | 221 Acknowledgments | 229 List of Contributors | 231 Index | 233

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Book SynopsisThis book provides an introduction to the economic analysis of international trade policies, focussing on the effects of various policies and using this positive analysis both to determine which trade policies should be adopted and to explain why existing policies have been adopted.Table of ContentsPreface. 1. Introduction. Part I: Modelling International Trade:. 2. Why do countries trade with each other?. 3. A General Equilibrium Model of International Trade. 4. A Partial Equilibrium Model of International Trade. 5. The Core Propositions of Neoclassical Trade Theory. Part II: Extensions and Modifications to the Basic Model:. 6. Empirical Tests of Simple Trade Theories. 7. Technology-based Trade Theories. 8. Economies of Scale, Imperfect Competition, and Intra-Industry Trade. 9 Intermission. Part III: Trade Policies:. 10. Economic Effects of a Tariff. 11. Non-Tariff Barriers to Trade. 12. Arguments used in support of Trade Barriers. 13. Measuring the Effects of Trade Barriers. 14. The Political Economy of Trade Barriers. 15. Discriminatory Trade Policies. 16. International Trade and Economic Development. Part IV: Beyond Pure Trade Theory:. 17. International Factor Movements, Trade in Services, and the BOP. 18. Trade Policy when the BOP is in Disequilibrium. 19. Exchange Rate Movements and International Trade. 20. Conclusions. References. Index.

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Book SynopsisThis series focuses on topics such as international financial markets, pricing options on foreign assets and the ECU as the financing currency. This volume includes a section on European acquisitions by French banks, strategies and the European financial structure. Other areas covered include: regulatory taxes; investment and financing decisions for insured banks; free trade and the European financial structure; and a critical reexamination of the return geneship process of the arbitrage pricing theory.Table of ContentsRegulatory taxes, investment, and financing decisions for insured banks, Anlong Li et al; European acquisitions by French banks, strategies, and the European financial structure - insights into a complex relationship, Bernard Marois, Francois Lepineux; project and firm valuation, foreign exchange exposure, and accounting methods with an option to liquidate, Tong Kim, Edward Omberg; listing in the U.S. markets by foreign firms - evidence on return and risks, K.G. Viswanathan; stock volatility and impact of news - the case of four Asia-Pacific markets, Y.K. Tse, X.L. Zuo; a critical re-examination of the return generating process of the arbitrage pricing theory, George Diacogiannis et al; free trade and the U.S. financial services industries - assessment from the reaction of stock prices of financial firms to the U.S.-Canada free trade agreement, Shahid S. Hamid et al; the public concern - "it's the fundamentals stupid" - the Orange Country bankruptcy in perspective, Sarkis Joseph Khoury; abstract of the paper "Credit market reputation and the optimality of financing through subsidiaries", Thomas J. Chemmanur.

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Book SynopsisGlobalization and post-communist transition are currently two of the most important economic issues. Kolodko considers the links between them, and the way forward for post-socialist economies. Kolodko, former finance minister of Poland, considers the links between issues of globalization and post-communist transition, the two most important economic features of the turn of the century. He discusses the pattern of economic growth and contraction of the past fifty years, and reviews the options for the next half century. He accounts for the severity of the transitional recession in Eastern Europe and the former Soviet Union as a result of both the legacies of the past and current policy mistakes, but demonstrates how structural reforms and gradual institutional building have enabled some post-socialist economies to recover. He proposes that, within the wider context of globalization, several of these emerging market economies will be able to catch up with the more advanced industrial countries, but emphasizes the need for quality growth policies and continuing coordination between development strategies and efforts toward structural reform. Grzegorz W. Kolodko is John C. Evans Professor in European Studies at the University of Rochester, and Director of TIGER -- Transformation, Integration and Globalization Economic Research -- at the Leon Kozminski Academy of Entrepreneurship and Management [WSPiZ].Table of ContentsIntroduction Globalization and Postsocialist Transformation Transitional Recession and the Great Depression of the 1990s Different Paths of Contractions, Recovery and Growth Policy Response and the Role of Institution-building Market Imperfections and the New Role of the Government Small versus Big Government and the Quest for Equitable Growth External Shocks and the Catching-up Process Passive Scenarios and Active Policies for the 21st Century Policy Conclusions

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Book SynopsisBecause globalization opens international borders throughout the world, the study of international economics has become increasingly relevant. International Economics begins with a discussion of globalization and addresses economic development, trade and comparative advantage, trade barriers, exchange rates, the balance of payments, and major international organizations today such as the UN, IMF, and the World Bank. This brand-new resource concludes with a discussion of different economic systems.

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Book SynopsisThe study of international economics has never been more vital than it is today. The past global financial crisis, the economic uncertainty in many advanced countries, increasing barriers to international trade, and currency crises have created challenges for both policy makers and corporate decision makers involved in international trade and finance. This book provides a concise and rigorous approach to the understanding of international trade and finance without relying on mathematical models or graphs. It explains the basis and pattern of trade, the effects of trade and trade policies on companies, national welfare, and the global economy. It explains the determination and changes in exchange rates. Finally, it describes the operation of the economy and examines the impact of national economic policies on the domestic economy and the rest of the world.Corporate managers and MBA students must learn the complex interrelationships between trade policies; the actions of central banks; and changes in government spending and taxes on interest rates, prices, exchange rates, and economic activity. This book adopts a nontechnical approach to explaining the basis for trade between countries and the role of firms in global trade and describes the effect of tariffs and fluctuations in exchange rates on a company’s sales, costs, and profits.

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Book SynopsisThis book offers a concise and analytical portrait of the contemporary world.The author encompasses concepts and theories from multiple disciplines notably sociology, anthropology, business, and economics to examine major global trends and transformations of the modern world, their underlying causes, and their consequences.The text examines global demographic trends, globalization, culture, emerging markets, global security, environmental degradation, large corporations, and economic inequality. The author also analyzes major transformations in healthcare, food, the sharing economy, Fourth Industrial Revolution, consumption, work and organization, innovation and various technologies in areas such as automation, robotics, connectivity, quantum computing, and new materials.This book is a valuable reference for business leaders, managers, students, and all those who are passionate about understanding the rapidly changing contemporary world.

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Book SynopsisCreating Your Success with ChinaThis book helps you build, and maintain, success with China. How? Through the often neglected, but vital, area of creating relationships that work and endure in China.Why would this matter so much in a professional or business setting, you may wonder? Because in China, the relationship always precedes the business and determines the latter's success, quality and durability. Only when relationships flourish, does success with China happen. Under investment in relationships and relationship shortcuts are among the primary reasons why good enterprises fail to succeed in China.The relationship skills advocated in this book, once adopted, will be a positive differentiator in your favor, for all your dealings with China, by equipping you with skills of sufficient depth, to ensure success in this relationship-centric culture. The book will encourage you to value these skills, and deploy them proudly in China, in the knowledge that relationship skills are the primary differentiator in this business culture. Through this valuable relationship knowledge, you will become, over time, your own cultural mediator, able to handle diverse business situations and challenges in a culturally adapted way, as they arise. This, in turn, will provide you with the confidence to build, and maintain, enterprise success with China.

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Book SynopsisProfessor Czinkota shares with us his practical insights into the modern world trading system and the complexities that exist within. It provides an invaluable framework for future global leaders in their endeavors to solve global trade crises and find opportunities for furthering the free flow of goods and services across borders.It is rare to find such practical insights into the rationale of why the world is what it is today and makes for some interesting guidance for the future. Anyone who reads this book will be better equipped to tackles the challenges of operating in the world economy and working their way out of conflicts.The book also addresses the weaknesses present in current world structures, such as the World Trade Organization and its inability to suppress China, guiding the reader on how to achieve business success in a world of instability and diplomatic tensions. The concept of Curative International Marketing is a unique framework fathered by Professor Czinkota and is deeply explored in this book.

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