The growing interconnectedness of national economies and an expanding awareness of global interdependence in the 1990s have generated lively debate over the future of national governance. In a world of mobile capital, are states vital to the social and economic wellbeing of their citizens? A number of changes in the state's domestic and international environment - ranging from regulatory reforms and welfare state restructuring to the proliferation of intergovernmental agreements - have promoted the view that globalisation has a negative impact, compromising state capacities to govern domestically. This book challenges the 'constraints thesis'. Covering vital areas of state activity (welfare, taxation, industrial strategy, and regulatory reform), the contributors focus on a range of issues (finance, trade, technology) faced by both developed and developing countries. The contributors argue that globalisation can enable as well as constrain, and they seek to specify the institutional conditions which sharpen or neutralise the pressures of interdependence.

With editors and contributors of outstanding academic reputation this exciting new book presents an unconventional and radical perspective, revealing that states do still matter.

*Updated edition with a new foreword on the Trump administration's trade policy* The vast benefits promised by the supporters of globalization, and by their own government, have never materialized for many Americans. In Failure to Adjust Edward Alden provides a compelling history of the last four decades of US economic and trade policies that have left too many Americans unable to adapt to or compete in the current global marketplace. He tells the story of what went wrong and how to correct the course. Originally published on the eve of the 2016 presidential election, Alden’s book captured the zeitgeist that would propel Donald J. Trump to the presidency. In a new introduction to the paperback edition, Alden addresses the economic challenges now facing the Trump administration, and warns that economic disruption will continue to be among the most pressing issues facing the United States. If the failure to adjust continues, Alden predicts, the political disruptions of the future will be larger still.

With editors and contributors of outstanding academic reputation this exciting new book presents an unconventional and radical perspective, revealing that states do still matter.

Financial collapse. Global recession. The revival of free-market policies. Massive and increasing inequalities. Housing bubbles and record foreclosures. Severe strain in the European Union. Emergence of China and other major players on the international economic scene. Every day, media outlets bombard us with news and possible explanations for the financial, economic, and political crises. In The United States and the Global Economy, Frederick S. Weaver gives readers a concise introduction to the patterns of change in international financial and trade regimes since World War II in order to clarify recent global economic turmoil. Weaver has compiled a clear chronology of major events in the international economy to show how they have reflected and shaped changes in the domestic economy of the United States. Although U.S. dominance over the world economy is not as complete as it once was, the U.S. domestic economic processes continue to have profound effects on global economic affairs. The United States and the Global Economy is serious but not grim, and it familiarizes readers with the vocabulary of key elements of international economic analysis and their relationships, such as balances of trade and balances of payments; foreign direct investment and foreign portfolio investment; and the meaning of most-favored-nation agreements. The United States and the Global Economy is a concise, informative book that is of interest to anyone seeking to understand the current international economic and political disarray.

Now in its fourth edition, this highly regarded and critically acclaimed textbook offers an authoritative introduction to international political economy. It is unique in offering an accessible, broad introduction to the development of the global economy from its inception to today's complex relationship between states and markets in the midst of economic crises. Herman Mark Schwartz deftly shows that globalization is not a novel phenomenon but a recurrent process whereby markets have, since the 16th century, periodically redistributed economic activity. It links the production of goods and services in one region to the markets for those goods, and shows how this can lead to conflicts among states that try to create, enhance or subdue the markets. Taking into account the continued rise of China, and the recent shift towards populism in the West, this book has been extensively rewritten and updated throughout. This is a thought-provoking text which will encourage upper level undergraduate and postgraduate students to think analytically about the inevitability of a global market influencing a state's policies and geo-economic position and to locate their own thinking within the IPE tradition. New to this Edition: - Thoroughly updated to cover all major developments in global political economy since the financial crisis - Timelines in most chapters show key events in the evolution of the global economy - Offers a particularly clear account, now with chapter summaries, updated examples and a glossary of key terms

Illicit cross-border flows, such as the smuggling of drugs, are proliferating on a global scale. This volume explores the selective nature of the state's retreat, persistence and reassertion in relation to the illicit global economy.

This Handbook offers a comprehensive treatment of transformations of the state, from its origins in different parts of the world and different time periods to its transformations since World War II in the advanced industrial countries, the post-Communist world, and the Global South. Leading experts in their fields, from Europe and North America, discuss conceptualizations and theories of the state and the transformations of the state in its engagement with a changing international environment as well as with changing domestic economic, social, and political challenges. The Handbook covers different types of states in the Global South (from failed to predatory, rentier and developmental), in different kinds of advanced industrial political economies (corporatist, statist, liberal, import substitution industrialization), and in various post-Communist countries (Russia, China, successor states to the USSR, and Eastern Europe). It also addresses crucial challenges in different areas of state intervention, from security to financial regulation, migration, welfare states, democratization and quality of democracy, ethno-nationalism, and human development. The volume makes a compelling case that far from losing its relevance in the face of globalization, the state remains a key actor in all areas of social and economic life, changing its areas of intervention, its modes of operation, and its structures in adaption to new international and domestic challenges.

Leading economists address the ongoing challenges to economics in theory and practice in a time of political and economic crises. More than a decade of financial crises, sovereign debt problems, political conflict, and rising xenophobia and protectionism has left the global economy unsettled and the ability of economics as a discipline to account for episodes of volatility uncertain. In this book, leading economists consider the state of their discipline in a world of ongoing economic and political crises. The book begins with three sweeping essays by Nobel laureates Kenneth Arrow (in one of his last published works), Amartya Sen, and Joseph Stiglitz that offer a summary of the theoretical foundations of modern economics—the twin pillars of general equilibrium theory and welfare economics. Contributors then turn to macroeconomic stabilization and growth and, finally, new areas of research that depart from traditional theory, methodology, and concerns: climate change, behavioral economics, and evolutionary game theory. The 2019 Nobel Prize laureates, Abhijit Banerjee, Esther Duflo, and Michael Kremer, contribute a paper on the use of randomized control trials indevelopment economics. Contributors Philippe Aghion, Ingela Alger, Kenneth Arrow, Abhijit Banerjee, Kaushik Basu, Lawrence Blume, Guillermo Calvo, Francesco Caselli, Asli Demirgüç-Kunt, Shantayanan Devarajan, Esther Duflo, Samuel Fankhauser, James Foster, Varun Gauri, Xavier Gine, Gäel Giraud, Gita Gopinath, Robert Hockett, Karla Hoff, Ravi Kanbur, Aart Kraay, Michael Kremer, David McKenzie, Célestin Monga, Maurice Obstfeld, Hamid Rashid, Martin Ravallion, Amartya Sen, Luis Servén, Hyun Song Shin, Nicholas Stern, Joseph Stiglitz, Cass Sunstein, Michael Toman, Jörgen Weibull