In Ruling Capital, Kevin P. Gallagher demonstrates how several emerging market and developing countries (EMDs) managed to reregulate cross-border financial flows in the wake of the global financial crisis, despite the political and economic difficulty of doing so at the national level. Gallagher also shows that some EMDs, particularly the BRICS coalition, were able to maintain or expand their sovereignty to regulate cross-border finance under global economic governance institutions. Gallagher combines econometric analysis with in-depth interviews with officials and interest groups in select emerging markets and policymakers at the International Monetary Fund, the World Trade Organization, and the G-20 to explain key characteristics of the global economy. Gallagher develops a theory of countervailing monetary power that shows how emerging markets can counter domestic and international opposition to the regulation of cross-border finance. Although many countries were able to exert countervailing monetary power in the wake of the crisis, such power was not sufficient to stem the magnitude of unstable financial flows that continue to plague the world economy. Drawing on this theory, Gallagher outlines the significant opportunities and obstacles to regulating cross-border finance in the twenty-first century.

In Ruling Capital, Kevin P. Gallagher demonstrates how several emerging market and developing countries (EMDs) managed to reregulate cross-border financial flows in the wake of the global financial crisis, despite the political and economic difficulty of doing so at the national level. Gallagher also shows that some EMDs, particularly the BRICS coalition, were able to maintain or expand their sovereignty to regulate cross-border finance under global economic governance institutions. Gallagher combines econometric analysis with in-depth interviews with officials and interest groups in select emerging markets and policymakers at the International Monetary Fund, the World Trade Organization, and the G-20 to explain key characteristics of the global economy. Gallagher develops a theory of countervailing monetary power that shows how emerging markets can counter domestic and international opposition to the regulation of cross-border finance. Although many countries were able to exert countervailing monetary power in the wake of the crisis, such power was not sufficient to stem the magnitude of unstable financial flows that continue to plague the world economy. Drawing on this theory, Gallagher outlines the significant opportunities and obstacles to regulating cross-border finance in the twenty-first century.

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

The Model Rules of Professional Conduct provides an up-to-date resource for information on legal ethics. Federal, state and local courts in all jurisdictions look to the Rules for guidance in solving lawyer malpractice cases, disciplinary actions, disqualification issues, sanctions questions and much more. In this volume, black-letter Rules of Professional Conduct are followed by numbered Comments that explain each Rule's purpose and provide suggestions for its practical application. The Rules will help you identify proper conduct in a variety of given situations, review those instances where discretionary action is possible, and define the nature of the relationship between you and your clients, colleagues and the courts.

It's not capitalism, it's not neoliberalism - what if it's something worse? In this radical and visionary new book, McKenzie Wark argues that information has empowered a new kind of ruling class. Through the ownership and control of information, this emergent class dominates not only labour but capital as traditionally understood as well. And it’s not just tech companies like Amazon and Google. Even Walmart and Nike can now dominate the entire production chain through the ownership of not much more than brands, patents, copyrights, and logistical systems. While techno-utopian apologists still celebrate these innovations as an improvement on capitalism, for workers—and the planet—it’s worse. The new ruling class uses the powers of information to route around any obstacle labor and social movements put up. So how do we find a way out? Capital Is Dead offers not only the theoretical tools to analyze this new world, but ways to change it. Drawing on the writings of a surprising range of classic and contemporary theorists, Wark offers an illuminating overview of the contemporary condition and the emerging class forces that control—and contest—it.

A New York Times Bestseller An NPR Best Book of the Year The epic successor to one of the most important books of the century: at once a retelling of global history, a scathing critique of contemporary politics, and a bold proposal for a new and fairer economic system. Thomas Piketty’s bestselling Capital in the Twenty-First Century galvanized global debate about inequality. In this audacious follow-up, Piketty challenges us to revolutionize how we think about politics, ideology, and history. He exposes the ideas that have sustained inequality for the past millennium, reveals why the shallow politics of right and left are failing us today, and outlines the structure of a fairer economic system. Our economy, Piketty observes, is not a natural fact. Markets, profits, and capital are all historical constructs that depend on choices. Piketty explores the material and ideological interactions of conflicting social groups that have given us slavery, serfdom, colonialism, communism, and hypercapitalism, shaping the lives of billions. He concludes that the great driver of human progress over the centuries has been the struggle for equality and education and not, as often argued, the assertion of property rights or the pursuit of stability. The new era of extreme inequality that has derailed that progress since the 1980s, he shows, is partly a reaction against communism, but it is also the fruit of ignorance, intellectual specialization, and our drift toward the dead-end politics of identity. Once we understand this, we can begin to envision a more balanced approach to economics and politics. Piketty argues for a new “participatory” socialism, a system founded on an ideology of equality, social property, education, and the sharing of knowledge and power. Capital and Ideology is destined to be one of the indispensable books of our time, a work that will not only help us understand the world, but that will change it.

It's not capitalism, it's not neoliberalism - what if it's something worse? In this radical and visionary new book, McKenzie Wark argues that information has empowered a new kind of ruling class. Through the ownership and control of information, this emergent class dominates not only labour but capital as traditionally understood as well. And it’s not just tech companies like Amazon and Google. Even Walmart and Nike can now dominate the entire production chain through the ownership of not much more than brands, patents, copyrights, and logistical systems. While techno-utopian apologists still celebrate these innovations as an improvement on capitalism, for workers—and the planet—it’s worse. The new ruling class uses the powers of information to route around any obstacle labor and social movements put up. So how do we find a way out? Capital Is Dead offers not only the theoretical tools to analyze this new world, but ways to change it. Drawing on the writings of a surprising range of classic and contemporary theorists, Wark offers an illuminating overview of the contemporary condition and the emerging class forces that control—and contest—it.

First published in 1981, The Political Nature of a Ruling Class is a study of the role played by the ‘organic intellectuals’, who were attached to the capitalist class in South Africa, in shaping the processes of state and class formation in the crucial decades when the foundations of modern South Africa were being laid. The book examines how the political and ideological character of the imperialist, ‘British South African’, mining bourgeoisie was formed, which revolutionised southern Africa and remained dominant until the First World War, and how a national bourgeoisie emerged and later came to prevail which differed both as a political force and as the bearer of a new ‘South Africanist’ ideology. In both cases, the activities of the intellectuals are explained in terms of the economic imperatives of accumulation and the capitalists’ conflicts with other classes, and in each case, racism is viewed in the light of the overall system of hegemony created by capital. The origins of South African capitalism are examined finally from the point of view of one group of people—the capitalists themselves. A concrete and readable account of capitalists and their ideologies, this contribution to theories both of class and state formation and of the relationship between political, cultural, ideological and economic forces will be of importance to students and researchers of African studies and political science.