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America is facing a higher education bubble. Like the housing bubble, it is the product of cheap credit coupled with popular expectations of ever-increasing returns on investment, and as with housing prices, the cheap credit has caused college tuitions to vastly outpace inflation and family incomes. Now this bubble is bursting. In this Broadside, Glenn H. Reynolds explains the causes and effects of this bubble and the steps colleges and universities must take to ensure their survival. Many graduates are unable to secure employment sufficient to pay off their loans, which are usually not dischargeable in bankruptcy. As students become less willing to incur debt for education, colleges and universities will have to adapt to a new world of cost pressures and declining public support.
Managing Interpartner Risks in Strategic Alliances is a volume in the book series Research in Strategic Alliances that focuses on providing a robust and comprehensive forum for new scholarship in the field of strategic alliances. In particular, the books in the series cover new views of interdisciplinary theoretical frameworks and models, significant practical problems of alliance organization and management, and emerging areas of inquiry. The series also includes comprehensive empirical studies of selected segments of business, economic, industrial, government, and non-profit activities with wide prevalence of strategic alliances. Through the ongoing release of focused topical titles, this book series seeks to disseminate theoretical insights and practical management information that should enable interested professionals to gain a rigorous and comprehensive understanding of the field of strategic alliances. Managing Interpartner Risks in Strategic Alliances contains contributions by leading scholars in the field of strategic alliance research. The 9 chapters in this volume deal with significant issues relating to the management of interpartner risks in strategic alliances. These risk issues relate to dedicated alliance function and partner-specific experience, cross-border licensing, interfirm alliance structures, a hybrid interpretive scheme for engaging with dark potentialities, solidarity partnerships, prior ties in partner acquisitions, new market entrants in the venture capital industry, and private sector intelligence. The chapters contain empirical as well as conceptual treatments of the selected topics, and collectively present a wide-ranging review of the noteworthy research perspectives on managing interpartner risks in strategic alliances.
Risk assessment has become a dominant public policy tool for making choices, based on limited resources, to protect public health and the environment. It has been instrumental to the mission of the U.S. Environmental Protection Agency (EPA) as well as other federal agencies in evaluating public health concerns, informing regulatory and technological decisions, prioritizing research needs and funding, and in developing approaches for cost-benefit analysis. However, risk assessment is at a crossroads. Despite advances in the field, risk assessment faces a number of significant challenges including lengthy delays in making complex decisions; lack of data leading to significant uncertainty in risk assessments; and many chemicals in the marketplace that have not been evaluated and emerging agents requiring assessment. Science and Decisions makes practical scientific and technical recommendations to address these challenges. This book is a complement to the widely used 1983 National Academies book, Risk Assessment in the Federal Government (also known as the Red Book). The earlier book established a framework for the concepts and conduct of risk assessment that has been adopted by numerous expert committees, regulatory agencies, and public health institutions. The new book embeds these concepts within a broader framework for risk-based decision-making. Together, these are essential references for those working in the regulatory and public health fields.
NATO's success in Afghanistan--or lack thereof--will have significant implications for the alliance itself. The authors examine current mission in light of NATO's history and with an eye toward the future. NATO faces a long and daunting list of issues that extends beyond the borders of the member countries. The alliance must confront them, however, because failure to do so would risk its long-term success and sustainability.
In an era of great power competition, the role of alliances in managing escalation of conflict has acquired renewed importance. Nuclear weapons remain the ultimate means for deterrence and controlling escalation, and are central to US alliances in Europe and the Indo-Pacific. However, allies themselves need to better prepare for managing escalation in an increasingly challenging geostrategic and technological environment for the US and its allies. While the challenge of great power competition is acute at both ends of Eurasia, adversary threats, geography and the institutional context of US alliances differ. This book brings together leading experts from Europe, Northeast Asia, the United States and Australia to focus on these challenges, identify commonalities and differences across regions, and pinpoint ways to collectively manage nuclear deterrence and potential escalation pathways in America’s 21st century alliances. ‘Nuclear weapons play an important role in deterrence and preventing military conflict between great powers, while also posing an existential threat to humanity. It is vital that we have a nuanced understanding of this important challenge, so that such weapons are never used. This book offers many important perspectives and makes a significant contribution to the overall debate about these powerful weapons.’ — The Hon Julie Bishop, Chancellor, The Australian National University, Former Foreign Minister of Australia ‘This timely book identifies a wide range of challenges US alliances both in the Indo-Pacific and Euro-Atlantic face as they seek to ensure the value of US extended deterrence, particular the US nuclear umbrella, against China and Russia. This unique collection of chapters written by experts in US allies in both regions presents widely varying security perceptions and priorities. To understand such differences is the key to globally strengthen the US alliance systems, which are a significant advantage Washington enjoys over the two competitors.’ — Yukio Satoh, former President of The Japan Institute of International Affairs (JIIA) ‘This is a timely and thoughtful collection of essays that should serve to jumpstart public discussion and debate—the absence of which is widely noted and much bemoaned. Each contributor examines an aspect of the complicated, multifaceted nuclear debate by discussing the range of dilemmas from deterrence to disarmament. The various views set out here are more relevant than ever as Russia, China and the United States flex their nuclear muscles in new and sometimes dangerous ways. This book should be read by anyone interested in the preventing the use of nuclear weapons and understanding complexities of alliances in an increasingly dangerous world.’ — Madelyn Creedon, former Principal Deputy Administrator of the US National Nuclear Security Administration and Assistant Secretary of Defense for Global Strategic Affairs
This book has been replaced by Managing Suicidal Risk, Third Edition, ISBN 978-1-4625-5269-6.
This volume provides an overview of the evolution of NATO, alliances and global security governance in the twenty-first century.For so-long the cornerstone of the transatlantic partnership, the evolution of NATO has profound implications for the co-operative or competitive nature of transatlantic relations and regional and global security governance. As NATO moves into the twenty-first century its role, purpose, utility and very existence as the core transatlantic security alliance is increasingly questioned.For many observers with a more profound understanding of the evolution of NATO, such self-doubt has been a constant feature of NATO throughout its existence. But contemporary debates that question the utility of NATO and its collective security role do appear more strident, extreme and are expressed in a more determined fashion than arguments between allies on how best to secure the Cold War collective defence role. The Iraq War widened the spectrum of opinion as to NATO's future to an unprecedented degree. An interesting feature of this intense debate is that only the extremes tend to prick public consciousness - NATO as train-wreck or NATO in robust and rude health.Understanding NATO in the 21st Centurywill appeal to students of NATO, international security and international relations in general.
For much of the last 25 years, NATO has focused on crisis managementin places such as Kosovo and Afghanistan,resulting in major changes to alliance strategy, resourcing,force structure, and training. Re-embracing collective defense —which lies at the heart of the Treaty of Washington’s Article 5 commitment— is no easy feat, and not something NATO can do through rhetoric and official pronouncements. Nonetheless,this shift is vitally necessary if the alliance is to remain the bulwark of Western defense and security. Russia’s illegal annexation of Crimea and its invasion of Ukraine have fundamentally upended the security environment in Europe, thrusting NATO into the spotlight as the primary collective defense tool most European states rely upon to ensure their security. Collective defense is one of the alliance’s threecore missions, along with crisis management and cooperative security. It is defined in Article 5, the most well-known and arguably most important part of NATO’s founding treaty, which states: “The Parties agree that an armed attack against one or more of them in Europe or North America shall be considered an attack against them all.” Although all three missions are vital to the interests of NATO’s many member states, collective defense has become first among equals once again. However,three very significant hurdles stand in the way of the alliance and its member states as they attempt to re-embrace collective defense. These loosely correspond to an ends-waysmeans construct. First is the alliance's strategy toward Russia. Is Russia an adversary,a partner,neither,or both? How should strategy and policies change to place the alliance and its members on more solid ground when it comes to managing Russia? Second are the ongoing disputes over resourcing and burden-sharing. In recent years, it has become commonplace for American leaders to publicly berate European allies in an effort to garner more contributions to the common defense. How might the alliance better measure and more equitably share security burdens? Third is the alliance’s readiness to fulfill its objectives. Many allies have announced or are implementing increases in defense spending. However, governments of European NATO member states are strongly incentivized by domestic politics to favor acquisition of military hardware or spending on personnel salaries and benefits,usually at the expense of readiness. The result is that NATO military forces risk quickly becoming hollow in a way that is often underappreciated, which will prevent the alliance from fulfilling the collective defense promise inherent in Article 5. The book examines all such questions to assess NATO’s return to collective defense and offer a roadmap for overcoming those challenges in both the short and long-term.