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This collection of essays examines the case for and against globalization, the effects of U.S. economic and foreign policy, and numerous issues related to Asian economics and politics. Published in prominent journals and news media between 1996 and 2001, these cross-cutting essays are as relevant today as when they were first written. The author provides remarkable insight into the economic and military directions in which particular countries or regions are moving, and what these movements portend for the future.
The 38 essays in this book were written between the end of 1996 and the middle of 2001, and published in The Wall Street Journal, The Asian Wall Street Journal, The Wall Street Journal Europe, The Los Angeles Times, The New York Times, The International Herald Tribune, The Weekly Standard, Critical Review, Society, The Milken Review, and International Economy. Ml the essays appear in their original, unedited form, and none has been altered in light of the world-shaking and world-shaping terrorist attacks of September 11, 2001 on the World Trade Center in New York and the Pentagon in Washington, D.C. Two of the essays (Chapter 29 and Chapter 35), although written in 2001, weren't published until early in 2002. Most of the cross-cutting issues dealt with in these essays are as pertinent in the post- as in the pre-9/11 environment. Whether globalization is good or bad and for whom, how to measure it or how to influence it, remain timely questions now as they were then. The admission of China and Taiwan to the World Trade Organization (WTO), and the economic and other consequences of this change in status, will continue to be of regional as well as global significance. So, too, are issues addressed in other chapters, including the case for and against a "new international economic architecture," the out-look for a strong or a weak euro, the ramifications of China's continued if fitful progress toward capitalism, and the "fairness" and other effects of changes in U.S. marginal tax rates or in government spending as central elements in U.S. fiscal policy.
For a century, economists have driven forward the cause of globalization in financial institutions, labour markets, and trade. Yet there have been consistent warning signs that a global economy and free trade might not always be advantageous. Where are the pressure points? What could be done about them? Dani Rodrik examines the back-story from its seventeenth-century origins through the milestones of the gold standard, the Bretton Woods Agreement, and the Washington Consensus, to the present day. Although economic globalization has enabled unprecedented levels of prosperity in advanced countries and has been a boon to hundreds of millions of poor workers in China and elsewhere in Asia, it is a concept that rests on shaky pillars, he contends. Its long-term sustainability is not a given. The heart of Rodrik’s argument is a fundamental 'trilemma': that we cannot simultaneously pursue democracy, national self-determination, and economic globalization. Give too much power to governments, and you have protectionism. Give markets too much freedom, and you have an unstable world economy with little social and political support from those it is supposed to help. Rodrik argues for smart globalization, not maximum globalization.
From one of the leading policy experts of our time, an urgent rethinking of how we can better support each other to thrive Whether we realize it or not, all of us participate in the social contract every day through mutual obligations among our family, community, place of work, and fellow citizens. Caring for others, paying taxes, and benefiting from public services define the social contract that supports and binds us together as a society. Today, however, our social contract has been broken by changing gender roles, technology, new models of work, aging, and the perils of climate change. Minouche Shafik takes us through stages of life we all experience—raising children, getting educated, falling ill, working, growing old—and shows how a reordering of our societies is possible. Drawing on evidence and examples from around the world, she shows how every country can provide citizens with the basics to have a decent life and be able to contribute to society. But we owe each other more than this. A more generous and inclusive society would also share more risks collectively and ask everyone to contribute for as long as they can so that everyone can fulfill their potential. What We Owe Each Other identifies the key elements of a better social contract that recognizes our interdependencies, supports and invests more in each other, and expects more of individuals in return. Powerful, hopeful, and thought-provoking, What We Owe Each Other provides practical solutions to current challenges and demonstrates how we can build a better society—together.
Anthony de Jasay is arguably one of the most independent thinkers and influential libertarian political philosophers of our time. Jasay challenges the reigning paradigms justifying modern democratic government, critiquing what he regards as the well-intentioned but illinformed arguments favoring the modern expansion of state power. The articles collected in "Political Economy, Concisely" are exactly what the title promises: a collection of concise essays that examine the political economy of a free society. Written for the general reader and specialist alike, these essays articulate a convincing classical liberal view of the world, with a no-nonsense approach to modern economic theory. Many of the articles are collected here for the first time in book form. Jasay's aim here is to clarify basic concepts in the realm of political and economic philosophy, such as property, equality and distributive justice, public goods, unemployment, opportunity costs, and welfare. His trenchant comments on European economics and political systems provide specifics that support his more general observations of the modern world. Arranged topically, these essays reflect the wit and intellectual elegance of their author, challenging conventional wisdom in a subtle yet incisive manner. Russian and French tragicomedies are used as striking illustrations of the fact that the human mind seems to be characteristically unwilling to endorse economic common sense against the myth of the beneficial effects of government control. Such lively topics as "How to Get a Free Lunch: Just Apply for It"; "Your Dog Owns Your House"; "Russia Hobbling Along on Clay Feet"; "Who Minds the Gap?" and "Free Riding on the Euro" both entertain and instruct. The topical arrangement within the sequence of the seven parts of the text provides a meaningful context for the reader and allows information to be accessed in a comprehensible manner. This book gives a jargon-free economic account of important matters in our daily lives. Its emphasis on the political rather than the ordinary business of life fills the need for revitalising classical political economy, concisely.
First published in 1982, this reissue deals with the theory of underdevelopment, as Dr. de Silva attempts a synthesis between the internal and external aspects of underdevelopment and, in the Marxist tradition, focuses on the impact of the external on the internal as the dominant reality. Viewing underdevelopment as a problem in the non-transformation to capitalism, this analysis is in terms of the character of the dominant capital and of the dominant classes. Underdevelopment thus encompasses the ‘traditional’ peasant economy and also the export sector where the ‘modernizing’ influence of colonialism was felt. The book finally considers how the contemporary internationalization of capital affected the economies of the Third World.
Science has become a central political concern with massive increases in public investments and expectations, but resources are embedded in a complex web of societal expectations, which vary between countries and regions. This book outlines an insightful understanding of science policy as both concerning the governance of science itself (priority-setting, funding, organization and articulation with polity, society, and economy) and its extra-organizational connections, in terms of higher education, innovation and national policy concerns.
Using the frameworks of systems theory, modernization, and the world system, New Age Globalization presents a composite multilevel, multidirectional picture of globalization informed by eight different but interdependent subsystems.
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In context of ongoing transformations in housing markets and socioeconomic conditions, this book focuses on past, current and future roles of home ownership in social policies and welfare practices. It considers owner-occupied housing in terms of diverse meanings and manifestations, but in particular the part played by housing tenure in the political, socioeconomic and demographic changes that have characterized the pre- and post-crisis era. The intensified promotion of home ownership in recent decades helped stimulate an increasing orientation towards the private consumption of housing, not only as a home, but also an asset – or possibly speculative vehicle – that enhances household economic capacity and can be transferred to children or other family, or even exchanged for other goods. The latest global financial crisis, however, made it clear that owner-occupied housing markets and mortgage sectors have become deeply embedded in networks of socioeconomic interdependency and risk. This collection engages with numerous debates on housing and society in a range of developed societies from North America to Asia-Pacific to North, South, East and West Europe. Interdisciplinary contributors draw upon diverse empirical data to explore how housing and home ownership has become so embedded in polity, economy and household welfare conditions in various social and cultural contexts. Another concern is what lies beyond home ownership considering the integration of housing systems with economic growth and social stability appears to be unravelling. This volume speaks to public debates concerning the future of housing markets, policy and tenure, providing deep and provocative insights for academics, students and professionals alike.