dunnettreader + global_system   41

Unipolar Strategy in a Multipolar World
by Paul R. Pillar Vladimir Putin’s video show about formidable new Russian strategic weapons, which took up half of the Russian president’s recent…
US_foreign_policy  Russia  Russia-foreign_policy  multipolar  global_system  IR  military  from instapaper
march 2018 by dunnettreader
Duncan Bell - The Anglosphere: new enthusiasm for an old dream | Prospect Magazine
The Anglosphere: new enthusiasm for an old dream
Having cut Britain adrift of Europe, Brexiters are indulging in an old fantasy about a new national role in the world—as the hub of a far-flung Anglosphere

by Duncan Bell / January 19, 2017 / Leave a comment
Facebook
Twitter
Linkedin
Email

Published in February 2017 issue of Prospect Magazine
great_powers  British_foreign_policy  diplomacy  trade-agreements  Anglo-sphere  EU  global_system  trade-policy  British_Empire  global_governance  Europe  Brexit 
january 2017 by dunnettreader
Peter A.G. van Bergeijk - The heterogeneity of world trade collapses
Abstract
This paper analyses drivers of imports during the major world trade collapses of the Great Depression (1930s; 34 countries) and the Great Recession (1930s; 173 countries). The analysis deals with the first year of these episodes and develops a small empirical model that shows a significant impact of the development of GDP, the share of manufacturing goods in total imports and the political system. The analysis reveals substantial heterogeneity with respect to regional importance of these drivers. -- downloaded via iPhone to DBOX
public_policy  political_participation  economic_growth  global_economy  economic_history  political_economy  trade-policy  paper  institutions  government-forms  business-and-politics  international_political_economy  global_system  downloaded  trade  Great_Recession 
august 2016 by dunnettreader
Jean Tirole - Financial Crises, Liquidity, and the International Monetary System (eBook, Paperback 2016 and Hardcover 2002) - Princeton University Press
Written post Asia crisis but eternally applicable - he was focusing on capital flows when it still was heterodoxy -- Once upon a time, economists saw capital account liberalization--the free and unrestricted flow of capital in and out of countries--as unambiguously good. Good for debtor states, good for the world economy. No longer. Spectacular banking and currency crises in recent decades have shattered the consensus. In this remarkably clear and pithy volume, one of Europe's leading economists examines these crises, the reforms being undertaken to prevent them, and how global financial institutions might be restructured to this end. Jean Tirole first analyzes the current views on the crises and on the reform of the international financial architecture. Reform proposals often treat the symptoms rather than the fundamentals, he argues, and sometimes fail to reconcile the objectives of setting effective financing conditions while ensuring that a country "owns" its reform program. A proper identification of market failures is essential to reformulating the mission of an institution such as the IMF, he emphasizes. Next he adapts the basic principles of corporate governance, liquidity provision, and risk management of corporations to the particulars of country borrowing. Building on a "dual- and common-agency perspective," he revisits commonly advocated policies and considers how multilateral organizations can help debtor countries reap enhanced benefits while liberalizing their capital accounts.

Based on the Paolo Baffi Lecture the author delivered at the Bank of Italy, this refreshingly accessible book is teeming with rich insights that researchers, policymakers, and students at all levels will find indispensable. -- downloaded excerpt to Tab S2
books  kindle-available  downloaded  financial_system  financial_regulation  financial_crisis  banking  capital_adequacy  contagion  sovereign_debt  international_monetary_system  international_finance  international_political_economy  IMF  emerging_markets  globalization  global_governance  global_system 
august 2016 by dunnettreader
Financial Market Trends - OECD Journal - Home page | OECD
‌The articles in Financial Market Trends focus on trends and prospects in the international and major domestic financial markets and structural issues and developments in financial markets and the financial sector. This includes financial market regulation, bond markets and public debt management, insurance and private pensions, as well as financial statistics. -- links to the contents of each issue of the journal
journal  website  paper  financial_system  global_economy  global_system  financial_regulation  financial_crisis  capital_markets  risk-systemic  international_finance  banking  NBFI  insurance  markets-structure  risk_assessment  risk_management  sovereign_debt  corporate_finance  corporate_governance  institutional_investors  pensions  consumer_protection  equity-corporate  equity_markets  debt  debt-overhang  leverage  capital_flows  capital_adequacy  financial_economics  financial_innovation  financial_system-government_back-stop  bailouts  too-big-to-fail  cross-border  regulation-harmonization  regulation-costs  statistics 
july 2015 by dunnettreader
Charles Kenny - Aiming High - setting the new Sustainable Development Goals -- Finance & Development, June 2015, Vol. 52, No. 2
2015 marks the deadline for the MDGs... And while it might come as a surprise to those in Japan, Europe, or North America, the past 15 years may have been the period of greatest progress in humanity’s quality of life. Not least, the available data suggest that we have seen the fastest declines in global child mortality and absolute poverty in recorded history. As a result, we have far surpassed the first MDG—to halve the number of people worldwide living on less than $1.25 a day. 2015 is also the starting date for the SDGs to be agreed at the UN this fall. These goals outline a vision of progress to 2030 covering poverty, health, education, security, the environment, governance, gender equality, and much more. ..at Addis Ababa in July this year will try to finance that new agenda. ... at the UN Climate Change Conference in Paris in December, countries will pledge to cut greenhouse gas emissions, with the hope of setting us on a path away from catastrophic global warming. A strong agreement in Addis Ababa and progress toward the SDGs depend on advanced economies’ understanding that the issue is not altruism but naked self-interest. In 2002, when rich countries ... discussed global cooperation to meet the MDGs, these countries may have asked, “What can we do for them?” This time around the process can only be seen as “What can we do for each other?” Even though developing countries need global ties to make progress, at issue now is not persuading cash-strapped OECD finance ministers to be a little less skinflint but tackling a set of global problems that can be resolved only with the support of the developing world. -- in F&D issue downloaded as pdf to Note
article  sustainability  development  globalization  global_governance  global_system  climate  environment  trade  trade-policy  trade-agreements  global_value_chains  SDGs  poverty  aid  health  OECD_economies  public_finance  public_goods  cross-border  tax_collection  technical_assistance  technology_transfer  downloaded 
july 2015 by dunnettreader
Erlend W Nier, Tahsin Saadi Sedik - Capital flows, emerging markets and the global financial cycle | VOX, CEPR’s Policy Portal - 04 January 2015
Large and volatile capital flows into emerging economies since the Global Financial Crisis have re-invigorated efforts to unearth the determinants of these flows. This column investigates the interplay between global risk aversion (captured by the VIX) and countries’ characteristics. The authors also explore what policies countries should employ to protect themselves against the volatility of capital flows. The findings indicate that capital flows to emerging markets cannot be controlled without incurring substantial costs.
paper  emerging_markets  capital_flows  capital_markets  global_system  international_finance  global_financial_cycle  financial_crisis  Great_Recession  capital_controls  volatility  contagion  risk-systemic 
july 2015 by dunnettreader
Anton Korinek - Going against the flow: Dealing with capital flows to emerging markets | VOX, CEPR’s Policy Portal - 22 December 2010
Capital flows to emerging markets are controversial territory. This column argues that they create externalities that make the recipient economies more vulnerable to financial fragility and crises. It adds that policymakers can make their economies better off by regulating and discouraging the use of risky forms of external finance – in particular short-term dollar-denominated debts
paper  emerging_markets  capital_flows  capital_markets  global_system  international_finance  global_financial_cycle  financial_crisis  Great_Recession  capital_controls  volatility  contagion  risk-systemic  risk-mitigation 
july 2015 by dunnettreader
Jeffrey A. Bader - Changing China policy: Are we in search of enemies? | Brookings Institution
East Asia has avoided major military conflicts since the 1970s. After the United States fought three wars in the preceding four decades originating in East Asia, with a quarter of a million lost American lives, this is no small achievement. It is owing to the maturity and good sense of most of the states of the region, their emphasis on economic growth over settling scores, and the American alliances and security presence that have deterred military action and provided comfort to most peoples and states. But above all else, it is due to the reconciliation of the Asia-Pacific’s major powers, the United States, and China, initiated by Richard Nixon and Henry Kissinger and nurtured by every American administration and Chinese leadership since. In the inaugural Brookings China Strategy Paper, Jeff Bader evaluates the recent rhetoric towards China, and argues that the United States and China should work out their differences in a way that promotes continued economic dynamism and lowers tensions in the region. Jeffrey Bader is the John C. Whitehead Senior Fellow in International Diplomacy at the Brookings Institution in Washington, D.C. From 2009 until 2011, Bader was special assistant to the president of the United States for national security affairs at the National Security Council. In that capacity, he was the principal advisor to President Obama on Asia. Bader served from 2005 to 2009 as the director of the China Initiative and subsequently as the first director of the John L. Thornton China Center at the Brookings Institution. His latest book, "Obama and China’s Rise: An Insider’s Account of America’s Asia Strategy," was published by Brookings Institution Press in March 2012. -- downloaded pdf to Note
paper  US_foreign_policy  China-international_relations  maritime_issues  East_Asia  US-China  diplomacy  US_military  US_politics  international_political_economy  global_economy  global_system  global_governance  NPT  IR  multilateralism  hegemony  downloaded 
july 2015 by dunnettreader
Joseph Adelson, review essay - What Caused Capitalism? | Foreign Affairs - May 2015
Once upon a time, smart people thought the world was flat. As globalization took off, economists pointed to spreading market forces that… Includes new Cambridge History of Capitalism, Mokyr Enlightened Economy, Acemoglu and Robinson Why Nations Fail, and Beckert Empire of Cotton -- contrasts tales that are, in broad brush, optimistic and internalist re origins (especially Mokyr) vs pessimistic and externalist (especially Cotton) -- copied to Instapaper
books  reviews  bookshelf  economic_history  capitalism  Great_Divergence  ancient_history  global_economy  global_history  global_system  Europe-Early_Modern  city_states  Italy  Spain  France  British_history  India  US_history  colonialism  imperialism  empires  institutional_economics  technology  development  Scientific_Revolution  Industrial_Revolution  industrialization  industrial_policy  US_Civil_War  slavery  property  property_rights  mercantilism  mercantilism-violence  Instapaper  markets  political_economy  economic_culture  economic_growth  from instapaper
may 2015 by dunnettreader
The Legacy of the U.S. Civil War: 150 Years Later - roundtable with historians | Cambridge University Press Blog - April 2015
Participants: Kathleen M. Hilliard  is the author of Masters, Slaves, and Exchange .  She is Assistant Professor in the Department of History at Iowa State… Quite interesting, both for their insights and for how the historiography of the US in the 19thC has changed -- not simply looking at social groups (both as actors and victims) who had been ignored, but that historiographical shifts in specialties (e.g. military history, or the connections between legal and political history) have changed or broadened the focus when it comes to the Civil War. Lots of links to CUP books as well as (unlinked) other books and papers. S
US_history  19thC  US_Civil_War  historiography-postWWII  historiography  military_history  social_history  cultural_history  digital_humanities  global_history  global_system  diplomatic_history  legal_history  constitutional_law  US_constitution  Congress  Lincoln  Confederacy  slavery  abolition  African-Americans  Native_Americans  Manifest_Destiny  frontier  industrialization  books  kindle-available  US_society  US_politics  US_government  US_legal_system  bibliography  Instapaper  from instapaper
may 2015 by dunnettreader
Reading About the Financial Crisis: A 21-Book Review by Andrew W. Lo :: SSRN
Massachusetts Institute of Technology (MIT) - Sloan School of Management; Massachusetts Institute of Technology (MIT) - Computer Science and Artificial Intelligence Laboratory (CSAIL); National Bureau of Economic Research (NBER) -- The recent financial crisis has generated many distinct perspectives from various quarters. In this article, I review a diverse set of 21 books on the crisis, 11 written by academics, and 10 written by journalists and one former Treasury Secretary. No single narrative emerges from this broad and often contradictory collection of interpretations, but the sheer variety of conclusions is informative, and underscores the desperate need for the economics profession to establish a single set of facts from which more accurate inferences and narratives can be constructed. -- Pages in PDF File: 41 -- Keywords: Financial Crisis, Systemic Risk, Book Review -- downloaded pdf to Note
paper  SSRN  reviews  books  economic_history  21stC  Great_Recession  financial_crisis  financial_system  financial_regulation  financialization  capital_markets  banking  NBFI  shadow_banking  regulation-enforcement  rent-seeking  fraud  debt  debtors  housing  securitization  derivatives  bank_runs  banking-universal  Glass-Steagal  risk_management  risk-systemic  financial_economics  global_system  global_imbalance  capital_flows  institutional_investors  institutional_economics  bubbles  Minsky  downloaded 
april 2015 by dunnettreader
Kelley Vlahos - A Blackwater World Order | The American Conservative - Feb 2015
...a recent examination by Sean McFate, a former Army paratrooper who later served in Africa working for Dyncorp International and is now an associate professor at the National Defense University, suggests that the Pentagon’s dependence on contractors to help wage its wars has unleashed a new era of warfare in which a multitude of freshly founded private military companies are meeting the demand of an exploding global market for conflict. “Now that the United States has opened the Pandora’s Box of mercenarianism,” McFate writes in The Modern Mercenary: Private Armies and What they Mean for World Order, “private warriors of all stripes are coming out of the shadows to engage in for-profit warfare.” It is a menacing thought. McFate said this coincides with what he and others have called a current shift from global dominance by nation-state power to a “polycentric” environment in which state authority competes with transnational corporations, global governing bodies, non-governmental organizations (NGO’s), regional and ethnic interests, and terror organizations in the chess game of international relations. New access to professional private arms, McFate further argues, has cut into the traditional states’ monopoly on force, and hastened the dawn of this new era. McFate calls it neomedievalism, the “non-state-centric and multipolar world order characterized by overlapping authorities and allegiances.” States will not disappear, “but they will matter less than they did a century ago.” - copied to Pocket
books  global_system  global_governance  IR  IR_theory  military_history  Europe-Early_Modern  nation-state  transnational_elites  privatization  MNCs  NGOs  civil_wars  international_system  international_law  mercenaries  US_government  US_foreign_policy  Pentagon  Afghanistan  warfare-irregular  national_ID  national_interest  national_security  Pocket 
february 2015 by dunnettreader
Nassim Nicholas Taleb, et al - The Precautionary Principle (with Application to the Genetic Modification of Organisms) | arxiv.org - Oct 2014 [1410.5787]
Nassim Nicholas Taleb, Rupert Read, Raphael Douady, Joseph Norman, Yaneer Bar-Yam -- Abstract -- We present a non-naive version of the Precautionary (PP) that allows us to avoid paranoia and paralysis by confining precaution to specific domains and problems. PP is intended to deal with uncertainty and risk in cases where the absence of evidence and the incompleteness of scientific knowledge carries profound implications and in the presence of risks of "black swans", unforeseen and unforeseable events of extreme consequence. We formalize PP, placing it within the statistical and probabilistic structure of ruin problems, in which a system is at risk of total failure, and in place of risk we use a formal fragility based approach. We make a central distinction between 1) thin and fat tails, 2) Local and systemic risks and place PP in the joint Fat Tails and systemic cases. We discuss the implications for GMOs (compared to Nuclear energy) and show that GMOs represent a public risk of global harm (while harm from nuclear energy is comparatively limited and better characterized). PP should be used to prescribe severe limits on GMOs. -- see summary from arxiv Medium blog, saved via Instapaper
paper  risk  uncertainty  risk-systemic  biology  genetics  agriculture  GMOs  probability  precautionary_principle  risk-mitigation  global_system  EF-add 
october 2014 by dunnettreader
Jack A. Goldstone - The New Population Bomb: The Four Megatrends That Will Change the World | JSTOR: Foreign Affairs, Vol. 89, No. 1 (January/February 2010), pp. 31-43
UN predicts global population will level off by 2050 at approximately 9.15 billion from a bit under 7 billion today. Assuming we can avoid environmental catastrophe, the big demographic shifts will be more than half the population will be in cities and the growth will have been concentrated in younger cohorts of less developed regions, especially countries with low quality health, education and infrastructure, lack of economic opportunities to absorb the youth population (especially young, easily radicalized males) with the current wealthy economies both relatively older and smaller, requiring immigration to maintain growth and income levels. These trends will require a wholesale makeover in global governance. -- didn't download
article  jstor  21stC  global_economy  global_system  global_governance  population  demography  economic_growth  political_sociology  IR  OECD_economies  emerging_markets 
october 2014 by dunnettreader
Bichler, Shimshon and Nitzan, Jonathan - The Asymptotes of Power - Real-World Economics Review. No. 60. June 2012. pp. 18-53 | bnarchives
Article workup of earlier conference paper -- This is the latest in a series of articles we have been writing on the current crisis. The purpose of our previous papers was to characterize the crisis. We claimed that it was a 'systemic crisis', and that capitalists were gripped by 'systemic fear'. In this article, we seek to explain why. The problem that capitalists face today, we argue, is not that their power has withered, but, on the contrary, that their power has increased. Indeed, not only has their power increased, it has increased by so much that it might be approaching its asymptote. And since capitalists look not backward to the past but forward to the future, they have good reason to fear that, from now on, the most likely trajectory of this power will be not up, but down. The paper begins by setting up our general framework and key concepts. It continues with a step-by-step deconstruction of key power processes in the United States, attempting to assess how close these processes are to their asymptotes. And it concludes with brief observations about what may lie ahead. -- Keywords: capitalization distribution power, systemic crisis -- Subjects: BN Money & Finance, BN Conflict & Violence, BN Distribution, BN Resistance, BN Power, BN Region - North America, BN Business Enterprise, BN Capital & Accumulation, BN Value & Price, BN Class, BN Crisis -- downloaded pdf to Note, also Excel data sheet
article  international_political_economy  capital_as_power  financial_system  international_finance  global_economy  global_system  ruling_class  transnational_elites  elite_culture  elites-self-destructive  globalization  power-asymmetric  Great_Recession  financial_crisis  finance_capital  financialization  distribution-income  distribution-wealth  profit  labor_share  risk-systemic  inequality  plutocracy  1-percent  conflict  violence  class_conflict  neoliberalism  corporate_citizenship  systems-complex_adaptive  systems_theory  grassroots  opposition  democracy  democracy_deficit  accumulation  capitalization  US_politics  US_economy  political_economy  political_culture  economic_culture  elites  rebellion  failed_states  property_rights  business-and-politics  business-norms  economic_growth  fear  data  capitalism-systemic_crisis  downloaded  EF-add 
october 2014 by dunnettreader
Issue TOC - THE RESILIENCY OF THE NATION-STATE IN SCHOLARSHIP AND IN FACT | JSTOR: Review (Fernand Braudel Center), Vol. 34, No. 3, 2011
Introduction: "Globalization" and the Nation-State in the Modern World-System (pp. 253-258) - Denis O'Hearn and Thomas M. Wilson. *--* Nationalism in a Post-Hegemonic Era (pp. 259-283) - Richard Lachmann. *--* The State of States in International Organizations: From the WHO to the Global Fund (pp. 285-310) - Nitsan Chorev, Tatiana Andia Rey and David Ciplet. *--* On the Study of Social Optics: Foucault, Counter-Surveillance, and the Political Underground in Northern Peru (pp. 311-331) - David Nugent -- lots of interesting bibliography
article  journal  jstor  20thC  21stC  economic_history  political_history  political_economy  international_political_economy  cultural_history  globalization  global_governance  global_economy  global_system  global_history  social_theory  political_sociology  political_culture  political_nation  nation-state  national_ID  elites  elite_culture  MNCs  international_organizations  international_system  international_finance  IR_theory  IR-domestic_politics  hegemony  Foucault  IFIs  world_systems  bibliography  EF-add 
september 2014 by dunnettreader
350.org
350.org was founded by a group of university friends in the U.S. along with author Bill McKibben, who wrote one of the first books on global warming for the general public. When we started organizing in 2008, we saw climate change as the most important issue facing humanity — but climate action was mired in politics and all but stalled. We didn’t know how to fix things, but we knew that one missing ingredient was a climate movement that reflected the scale of the crisis. So we started organizing coordinated days of action that linked activists and organizations around the world, including the International Day of Climate Action in 2009, the Global Work Party in 2010, Moving Planet in 2011, and Climate Impacts Day in 2012. We held the “world’s biggest art installation” and “the most widespread day of political action in the planet’s history.” We figured that if we were going to be a movement, then we had to start acting like one. Click here to watch videos of these global mobilisations. Today, 350.org works in almost every country in the world on campaigns like fighting coal power plants in India, stopping the Keystone XL pipeline in the U.S, and divesting public institutions everywhere from fossil fuels. All of our work leverages people power to dismantle the influence and infrastructure of the fossil fuel industry, and to develop people-centric solutions to the climate crisis.
grassroots  alt-globalization  climate  energy  science-public  global_governance  global_system  sustainability  green_economy  US_politics  UN  UNEP 
september 2014 by dunnettreader
WEF's Global Risk Report | Silvia Merler at Bruegel.org - September 2014
Last week, the World Economic Forum (WEF) published its Global Risk Report (GRR) for 2014/15. The report is an exercise conducted by the WEF since 2006, but this year’s issue is particularly interesting because it adopts an historical perspective, offering insights on how the world has changed in respondents’ eyes and concerns. The GRR assesses risks that are global in nature and have the potential to cause significant negative impact across entire countries and industries if they take place over a time frame of up to 10 years. 31 such risks are identified in the report and grouped under five categories – economic, environmental, geopolitical, societal and technological. *-* Economic Risks include fiscal and liquidity crises, failure of a major financial mechanism or institution, oil-price shocks, chronic unemployment and failure of physical infrastructure on which economic activity depends. *-* Environmental Risks encompass both natural disasters and man-made risks such as collapsing ecosystems, freshwater shortages, nuclear accidents and failure to mitigate or adapt to climate change. *-* Geopolitical Risks cover politics, diplomacy, conflict, crime and global governance. These risks range from terrorism, disputes over resources and war to governance being undermined by corruption, organized crime and illicit trade. *-* Societal Risks are intended to capture risks related to social stability – such as severe income disparities, food crises and dysfunctional cities – and public health, such as pandemics, antibiotic-resistant bacteria and the rising burden of chronic disease. *-* Technological Risks covers major risks related to the centrality of information and communication technologies to individuals, businesses and governments (such as cyber attacks, infrastructure disruptions and data loss). -- excellent network chart showing how risks are interrelated within and across categories -- downloaded pdf to Note
report  global_economy  global_governance  global_system  international_political_economy  international_finance  financial_crisis  climate  energy  water  inequality  unemployment  geopolitics  infrastructure  public_health  public_goods  urban_development  urbanization  downloaded 
september 2014 by dunnettreader
Rostam J. Neuwirth - The Creative Industries as a New Paradigm for Business and Law: Of 'Smart Phones' and 'Smarter Regulation' :: SSRN June 13, 2014
University of Macau - Faculty of Law, E32 -- Fourth Biennial Global conference of the Society of International Economic Law (SIEL) Working Paper No. 2014/05. **--** From a macroeconomic perspective, the historical evolution of trade and commerce has been closely entangled in a two-way or paradoxical relationship with the evolution of laws, where one is inextricably linked to the other and both mutually influence each other. At the microeconomic level, the same can be said about the relationship between businesses or industries and their underlying technologies. Recent changes, and notably the accelerated pace by which we recognize change, has led to a widespread trend of “convergence”. Convergence has been recognised in different contexts, namely in languages, technologies, and industries as well as regulatory matters. The objective of this article is thus to first trace and describe convergence from a linguistic, technological and industrial perspective. Subsequently, in order to ponder the future regulatory challenges in the regulation of global trade under the aegis of the World Trade Organization (WTO), it will focus on the question of whether technological and industrial convergence should be met by a similar trend towards regulatory convergence through regulatory harmonisation. Put differently, it will critically evaluate the present situation of regulatory divergence in the form of regulatory diversity and regulatory competition with a view of contributing to the debate of improving global trade regulation in the 21st century. - Number of Pages: 21 -- didn't download
paper  SSRN  international_law  international_economics  law-and-economics  international_political_economy  global_governance  WTO  regulation  administrative_agencies  administrative_law  technocracy  accountability  public_policy  legal_culture  regulation-harmonization  technology  technology_transfer  economic_culture  creative_economy  political_participation  globalization  global_system  manufacturing  production  change-social  EF-add 
september 2014 by dunnettreader
FROM THE ARCHIVES: Review of David Cannadine, Ornamentalism: How the British Saw Their Empire (Allen Lane, 2001) | Pandaemonium
There may seem to be something wilfully perverse about the idea that 19thC Britain, or its empire, was ‘less racist’ than the contemporary nation. Nevertheless there is an element of truth to Cannadine’s argument. 19thC thinkers and administrators combined a belief in natural inequality with a belief in the ‘universality’ of the world – the conviction that they lived in ‘one vast interconnected world’, as Cannadine puts it. Today, in the post-Holocaust era, we have by and large rejected ideas of natural inequality – but also ideas of universality. Indeed, in the ‘West and the Rest’ tradition, universalism is itself regarded as a product of racism, a means by which the West has silenced the voices of the Rest. The consequence has been not the embrace of equality, but the reframing of inequality as ‘difference’. We have managed to combine today a formal belief in equality with the practical creation of a more fractious, fragmented, identity-driven world. Against this background, the moral of Cannadine’s story is not so much that an empire built ‘on individual inequality, had ways of dealing with race that contemporary societies, dedicated to collective equality do not’. It is rather that an age that enjoyed a bullish belief in the ‘sameness’ of the word possessed certain resources to cope with problems of difference that we no longer do, despite the fact that race and inequality were much more central aspects of the Victorian world-view. If we truly want to bury Victorian ideas of inequality, then we must repossess their belief in universality.
books  reviews  kindle-available  intellectual_history  cultural_history  19thC  British_history  British_Empire  social_order  hierarchy  patriarchy  elites  elite_culture  imperialism  global_system  universalism  identity  identity_politics  racism  equality  difference  Other  Victorian  national_ID  post-WWII  post-colonial  Great_Divergence  orientalism  EF-add 
august 2014 by dunnettreader
Thomas Palley » New Book: Restoring Shared Prosperity: a Policy Agenda from Leading Keynesian Economists | Dec 2013
Edited by Thomas I. Palley and Gustav A. Horn. The economic recovery in the US since the Great Recession has remained sub-par and beset by persistent fear it might weaken again. Even if that is avoided, the most likely outcome is continued weak growth, accompanied by high unemployment and historically high levels of income inequality. In Europe, the recovery from the Great Recession has been even worse, with the euro zone beset by an unresolved euro crisis that has already contributed to a double-dip recession in the region. This book offers an alternative agenda for shared prosperity to that on offer from mainstream economists. The thinking is rooted in the Keynesian analytic tradition, which has been substantially vindicated by events. However, pure Keynesian macroeconomic analysis is supplemented by a focus on the institutions and policy interventions needed for an economy to generate productive full employment with contained income inequality. Such a perspective can be termed “structural Keynesianism”. These are critical times and the public deserves an open debate that does not arbitrarily or ideologically lock out alternative perspectives and policy ideas. The book contains a collection of essays that offer a credible policy program for shared prosperity, rooted in a clear narrative that cuts through the economic confusions -- available in free pdf or on amazon.com -- didn't download
books  kindle-available  macroeconomics  Keynesianism  institutional_economics  stagnation  neoliberalism  political_economy  global_system  Labor_markets  inequality  economic_growth  EF-add 
february 2014 by dunnettreader
A. Claire Cutler - Critical Reflections on the Westphalian Assumptions of International Law and Organization: A Crisis of Legitimacy | JSTOR: Review of International Studies, Vol. 27, No. 2 (Apr., 2001), pp. 133-150
This article argues that the fields of international law and organization are experiencing a legitimacy crisis relating to fundamental reconfigurations of global power and authority. Traditional Westphalian-inspired assumptions about power and authority are incapable of providing contemporary understanding, producing a growing disjunction between the theory and the practice of the global system. The actors, structures, and processes identified and theorized as determinative by the dominant approaches to the study of international law and organization have ceased to be of singular importance. Westphalian-inspired notions of state-centricity, positivist international law, and 'public' definitions of authority are incapable of capturing the significance of non-state actors, informal normative structures, and private, economic power in the global political economy. -- see bibliography on jstor information page -- didn't download
article  jstor  IR_theory  global_system  global_governance  international_political_economy  nation-state  Westphalia  international_organizations  international_law  legitimacy  bibliography  EF-add 
february 2014 by dunnettreader
Ulf Henning Richter - Liberal Thought in Reasoning on CSR | JSTOR: Journal of Business Ethics, Vol. 97, No. 4 (December 2010), pp. 625-649
In this article, I argue that conventional reasoning on corporate social responsibility (CSR) is based on the assumption of a liberal market economy in the context of a nation state. I build on the study of Scherer and Palazzo (Acad Manage Rev 32(4):1096-1120, 2007), developing a number of criteria to identify elements of liberal philosophy in the ongoing CSR debate. I discuss their occurrence in the CSR literature in detail and reflect on the implications, taking into account the emerging political reading of the firm. I conclude that the apolitical framework in the mainstream CSR literature has to be overcome since it does not reflect recent changes in the socio-economic conditions for economic actors in a globalizing world. -- over 200 references -- didn't download
article  jstor  international_political_economy  globalization  global_system  corporations  corporate_governance  CSR  nation-state  corporate_citizenship  firms-theory  regulation  accountability  business-and-politics  externalities  capitalism  political_economy  economic_sociology  management  bibliography  EF-add 
february 2014 by dunnettreader
Frances Coppola - City-states and empires | Pieria
As I've pointed out elsewhere, the creation of empires is a way of resolving the difficulties that such melting pots create both for trade and, ultimately, for peace: but when these empires break apart, the forces released can be extremely destructive. The turbulent history of the 20th century was consequent upon the breakup of empires. Now, those empires are being re-created in different guises - the European Union, the Eurasion Union, perhaps the Asean Union..... Is the move towards globalised networks of independent cities that Barber identifies really strong enough to trump the historical cycle of creation and destruction of empires? Or would such globalised city networks themselves polarise into new forms of empire?

Although Barber may be right that the nation state in its current form may be on its way out, territoriality certainly is not. Cities are defined by the territory they control just as much as nation states. And growing cities need to extend their territory - which if they were independent city-states would be extraordinarily hard for them to do.
nation-state  cities  empires  global_system  global_governance  EF-add 
november 2013 by dunnettreader
Dani Rodrik on the large, dangerous external imbalances that underpin the fastest-growing economies' performance. - Project Syndicate Nov 2013
While advanced economies have performed far worse on average, there are notable exceptions, such as Germany and Sweden. “Do as we do,” these countries’ leaders often say, “and you will prosper, too.” Look more closely, however, and you will discover that these countries’ vaunted growth models cannot possibly be replicated everywhere, because they rely on large external surpluses to stimulate the tradable sector and the rest of the economy. Sweden’s current-account surplus has averaged above a whopping 7% of GDP over the last decade; Germany’s has averaged close to 6% during the same period The real heroes of the world economy – the role models that others should emulate – are countries that have done relatively well while running only small external imbalances. Countries like Austria, Canada, the Philippines, Lesotho, and Uruguay cannot match the world’s growth champions, because they do not over-borrow or sustain a mercantilist economic model. Theirs are unremarkable economies that do not garner many headlines. But without them, the global economy would be even less manageable than it already is.
global_system  global_economy  global_imbalance  international_economics  economic_growth  trade  EF-add 
november 2013 by dunnettreader
In a Good World, Would We Have to Deal with "Global Imbalances"? | Brad DeLong Nov 2013
Reprints his and Eichengreen introduction to reissue of Kindleberger, World in Depression - need for hegemon -- Responding to Dani Rodrick post re global Imbalances and beggar-thy-neighbor export-led policies
books  global_economy  global_system  global_imbalance  global_governance  financial_system  financial_crisis  Great_Depression  EF-add 
november 2013 by dunnettreader
Hilton Root - Dynamics among Nations: The Evolution of Legitimacy and Development in Modern States | The MIT Press
Liberal internationalism has been the West’s foreign policy agenda since the Cold War, and the West has long occupied the top rung of a hierarchical system. In this book, Hilton Root argues that international relations, like other complex ecosystems, exists in a constantly shifting landscape, in which hierarchical structures are giving way to systems of networked interdependence, changing every facet of global interaction. Accordingly, policymakers will need a new way to understand the process of change. Root suggests that the science of complex systems offers an analytical framework to explain the unforeseen development failures, governance trends, and alliance shifts in today’s global political economy.

Root examines both the networked systems that make up modern states and the larger, interdependent landscapes they share. Using systems analysis—in which institutional change and economic development are understood as self-organizing complexities—he offers an alternative view of institutional resilience and persistence. From this perspective, Root considers the divergence of East and West; the emergence of the European state, its contrast with the rise of China, and the network properties of their respective innovation systems; the trajectory of democracy in developing regions; and the systemic impact of China on the liberal world order. Complexity science, Root argues, will not explain historical change processes with algorithmic precision, but it may offer explanations that match the messy richness of those processes.
books  IR_theory  networks  complexity  Great_Divergence  development  legitimacy  nation-state  global_economy  global_system  global_governance  EF-add 
october 2013 by dunnettreader
Hélène Rey Dilemma not Trilemma: The global financial cycle and monetary policy independence | vox August 2013
The global financial cycle has transformed the well-known trilemma into a ‘dilemma’. Independent monetary policies are possible if and only if the capital account is managed directly or indirectly. This column argues the right policies to deal with the ‘dilemma’ should aim at curbing excessive leverage and credit growth. A combination of macroprudential policies guided by aggressive stress‐testing and tougher leverage ratios are needed. Some capital controls may also be useful. -- At the heart of the transmission of monetary conditions is the ability of financial intermediaries to leverage up quickly to high levels when financing conditions are favourable (see Borio and Disyatat (2011)). Hence a sensible policy measure is to cut structurally the ability of financial intermediaries to be excessively procyclical by putting a tougher limit on leverage.
FX  capital_flows  international_finance  international_political_economy  global_system  global_economy  global_imbalance  capital_markets  monetary_policy  macroprudential_policies  emerging_markets  contagion  financial_regulation  leverage  EF-add 
september 2013 by dunnettreader
Michael W Klein, Jay C. Shambaugh: Dilemma with the financial Trilemma | vox Sept 2013
The ‘financial trilemma’ – that open capital markets and pegged exchange rates mean a loss of monetary autonomy – has recently been challenged. Some argue that even flexible exchange rates cannot assure monetary autonomy without capital controls, while others argue even countries with fixed exchange rates can gain autonomy through temporary capital controls. This column argues that free floating exchange rates do in fact allow autonomy, and partially floating ones allow partial autonomy. For countries with fixed exchange rates, capital controls provide monetary autonomy when they are widely applied and longstanding, but not when they are temporary and narrowly targeted.

The argument that the policy trilemma overstates the efficacy of monetary policy has recently been made by Professor Hélène Rey (2013a, 2013b). Her argument is that widespread co-movement in capital flows, asset prices, and credit growth across countries – a global financial cycle – makes the trilemma moot.  -- Financial cycles and large country interest rates certainly have important impacts around the globe, but our evidence suggests that countries that float or close capital markets maintain some freedom over how they approach these shocks.
FX  capital_flows  international_finance  financial_crisis  macroprudential_policies  international_political_economy  global_system  global_economy  global_imbalance  capital_markets  monetary_policy  emerging_markets  contagion  EF-add 
september 2013 by dunnettreader
Eurozine - The climate of history: Four theses - Dipesh Chakrabarty
First published in Critical Inquiry 35 (Winter 2009) -- I realized that all my readings in theories of globalization, Marxist analysis of capital, subaltern studies, and postcolonial criticism over the last twenty-five years, while enormously useful in studying globalization, had not really prepared me for making sense of this planetary conjuncture within which humanity finds itself today. The change of mood in globalization analysis may be seen by comparing Giovanni Arrighi's masterful history of world capitalism, The Long Twentieth Century (1994), with his more recent Adam Smith in Beijing (2007), which, among other things, seeks to understand the implications of the economic rise of China. The first book, a long meditation on the chaos internal to capitalist economies, ends with the thought of capitalism burning up humanity "in the horrors (or glories) of the escalating violence that has accompanied the liquidation of the Cold War world order". It is clear that the heat that burns the world in Arrighi's narrative comes from the engine of capitalism and not from global warming. By the time Arrighi comes to write Adam Smith in Beijing, however, he is much more concerned with the question of ecological limits to capitalism. That theme provides the concluding note of the book, suggesting the distance that a critic such as Arrighi has travelled in the thirteen years that separate the publication of the two books. If, indeed, globalization and global warming are born of overlapping processes, the question is, How do we bring them together in our understanding of the world?
21stC  historiography  postmodern  post-colonial  globalization  global_system  capitalism  climate 
september 2013 by dunnettreader
Arlene B. Tickner: Core, periphery and (neo)imperialist International Relations | Special Issue End of IR Theory? - European Journal of International Relations September 2013
,Professor of International Relations, Political Science Department, Universidad de los Andes, Bogotá, Colombia --- This article analyzes the core–periphery dynamics that characterize the International Relations discipline. To this end, it explores general insights offered by both science studies and the social sciences in terms of the intellectual division of labor that characterizes knowledge-building throughout the world, and the social mechanisms that reproduce power differentials within given fields of study. These arguments are then applied to International Relations, where specific factors that explain the global South’s role as a periphery to the discipline’s (mainly US) core and the ways in which peripheral communities place themselves vis-à-vis International Relations’ (neo)imperialist structure are both explored. --- doi: 10.1177/1354066113494323, European Journal of International Relations, September 2013 vol. 19 no. 3, 627-646 --- uploaded to Dropbox
article  IR_theory  global_system  international_political_economy  sociology_of_knowledge  center-periphery  neo-imperialism  social_sciences-post-WWII  downloaded  EF-add 
september 2013 by dunnettreader
Chinn, Eichengreen and Ito: "A Forensic Analysis of Global Imbalances" | Econbrowser: August 2013
Just published in Oxford Economic Papers - downloaded working paper pdf to Note. ?..
We investigate whether the determinants of current account balances changed in the run-up to the 2009 financial crisis. Although changes in the budget balance appear to be an important factor for advanced current account deficit countries such as the USA, the effect of the ‘saving glut variables’, that is financial development and openness and legal development, has been relatively stable for emerging market countries, suggesting that those factors cannot explain the bulk of current account movements in recent years. We also find a structural break in current account behavior in 2006–8, in emerging market economies in particular, and attribute the anomalous behavior of precrisis current account balances to financial exuberance as opposed to the nature of the fiscal and monetary policy stance. Our projections suggest that absent drastic policy changes, the imbalances of the USA and China are unlikely to disappear.
21stC  global_system  FX  global_imbalance  US_economy  trade  China  emerging_markets  capital_markets  capital_flows  Great_Recession  financial_crisis  downloaded  EF-add 
august 2013 by dunnettreader
Korotayev & Tsirel:A Spectral Analysis of World GDP Dynamics: Kondratieff Waves, Kuznets Swings, Juglar and Kitchin Cycles in Global Economic Development, and the 2008–2009 Economic Crisis 2010
Structure and Dynamics: eJournal of Anthropological and Related Sciences

Abstract

The article presents results of spectral analysis that has detected the presence of Kondratieff waves (their period equals approximately 52–53 years) in the world GDP dynamics for the 1870–2007 period. To estimate the statistical significance of the detected cycles a new methodology has been applied. The significance of K-waves in the analyzed data has turned out to be in the range between 4 and 5 per cent. Hence, this spectral analysis has supported the hypothesis of the presence of Kondratieff waves in the world GDP dynamics. In addition, the reduced spectra analysis has indicated a rather high (2–3%) significance of Juglar cycles (with a period of 7–9 years), as well as the one of Kitchin cycles (with a period of 3–4 years). Thus our spectral analysis has also supported the hypothesis of the presence of Juglar and Kitchin cycles in the world GDP dynamics. On the other hand, our analysis suggests that the Kuznets swing should be regarded as the third harmonic of the Kondratieff wave rather than as a separate independent cycle. This research suggests two interpretations of the current global economic crisis. On the one hand, the spectral analysis suggests rather optimistically that the current world economic crisis might mark not the beginning of the downswing phase of the 5th Kondratieff wave, but it may be interpreted as a temporary depression between two peaks of the upswing (whereas the next peak might even exceed the previous one). On the other hand, there also seems to be some evidence supporting another interpretation based on the assumption that the current world financial-economic crisis marks the beginning of the downswing phase of the 5th Kondratieff wave. The article also explores the world GDP dynamics before 1870 and finds that it does not appear possible to detect Kondratieff waves in the world GDP dynamics for the pre-1870 period, though for this period they appear to be detected for the GDP dynamics of the West. This suggests that in the pre-1870 epoch the Modern World System was not sufficiently integrated, and the World System core was not sufficiently strong yet – that is why the rhythm of the Western core’s development was not quite felt on the world level. Only in the subsequent era the World System reached such a level of integration and its core acquired such strength that it appears possible to trace quite securely Kondratieff waves in the World GDP dynamics
social_theory  economic_history  economic_growth  Europe-Early_Modern  19thC  20thC  21stC  Great_Recession  cycles  globalization  global_system  international_political_economy  EF-add 
july 2013 by dunnettreader
Izabella K: The robot economy and the new rentier class | FT Alphaville Dec 2012
It seems more top-tier economists are coming around to the idea that robots and technology could be having a greater influence on the economy (and this crisis in particular) than previously appreciated. Paul Krugman being the latest.But first a quick backgrounder on the debate so far (as tracked by us).

..... For what Rogoff is saying is that if we are experiencing technology stagnation, it’s not because humanity has suddenly become less innovative. Rather, it’s because incumbent interests now have the biggest incentive ever to impose artificial scarcity, which is stopping the speed of innovation.

Our own personal view is that this is because we’ve now arrived at a point where technology begins to threaten return on capital, mostly by causing the sort of abundance that depresses prices to the point where many goods have no choice but to become free. This is related to the amount of “free working” hours now being pumped into the economy .... as everyone tries to keep up with the competition by doing yet more hours voluntarily.

Patent wars, meanwhile… and the rise of companies whose entire raison d’etre is focused on protecting patents… is the ultimate counter force. As a recent Fed paper spelled out, there is real evidence to suggest that idea monopolisation has become a hugely counter-productive force in the economy.

We particularly enjoyed this opinion piece by Steven Levy at Wired Magazine on what he described as the emerging “patent problem“.
21stC  global_system  international_economics  international_political_economy  technology  economic_growth  economic_history  Labor_markets  macroeconomics  capitalism  rents  intellectual_property  Innovation  consumerism  competition  investment  monopolies  plutocracy  links  EF-add 
june 2013 by dunnettreader
Buzan & Lawson: The global transformation: the nineteenth century and the making of modern international relations - LSE Research Online
Buzan, Barry and Lawson, George (2012) The global transformation: the nineteenth century and the making of modern international relations. International studies quarterly, online . ISSN 0020-8833 (In Press)
19thC  IR  global_system  English_School  historical_sociology  imperialism  capitalism  Wiley 
june 2013 by dunnettreader

related tags

1-percent  15thC  16thC  17thC  18thC  19thC  20thC  21stC  abolition  academia  accountability  accumulation  administrative_agencies  administrative_law  Afghanistan  African-Americans  agriculture  aid  alt-globalization  ancient_history  Anglo-sphere  article  bailouts  banking  banking-universal  bank_runs  bibliography  biography  biology  books  bookshelf  Brexit  British_Empire  British_foreign_policy  British_history  bubbles  business-and-politics  business-norms  capitalism  capitalism-systemic_crisis  capitalization  capital_adequacy  capital_as_power  capital_controls  capital_flows  capital_markets  center-periphery  change-social  Charles_V  China  China-international_relations  cities  city_states  civil_wars  class_conflict  climate  colonialism  comparative_economics  comparative_history  competition  competition-interstate  complexity  composite_monarchies  Confederacy  conflict  Congress  constitutional_law  consumerism  consumer_protection  contagion  corporate_citizenship  corporate_finance  corporate_governance  corporations  creative_economy  cross-border  crown_revenues  CSR  cultural_history  cycles  data  debt  debt-overhang  debtors  democracy  democracy_deficit  demography  derivatives  development  development-finance  difference  digital_humanities  diplomacy  diplomatic_history  distribution-income  distribution-wealth  downloaded  East_Asia  economic_culture  economic_growth  economic_history  economic_models  economic_reform  economic_shocks-propagation  economic_sociology  economic_theory  EF-add  elections-2016  elites  elites-self-destructive  elite_culture  emerging_markets  empires  energy  energy-markets  English_School  environment  equality  equity-corporate  equity_markets  EU  Europe  Europe-Early_Modern  exports  externalities  failed_states  fear  finance_capital  financialization  financial_crisis  financial_economics  financial_innovation  financial_regulation  financial_system  financial_system-government_back-stop  firms-theory  fiscal-military_state  fiscal_policy  Foucault  France  fraud  free_trade  frontier  FX  genetics  geopolitics  Glass-Steagal  globalization  global_economy  global_financial_cycle  global_governance  global_history  global_imbalance  global_system  global_value_chains  GMOs  government-forms  grassroots  Great_Depression  Great_Divergence  great_powers  Great_Recession  green_economy  health  hegemony  hierarchy  historical_sociology  historiography  historiography-postWWII  housing  identity  identity_politics  IFIs  IMF  imperialism  India  industrialization  industrial_policy  Industrial_Revolution  inequality  infrastructure  Innovation  Instapaper  institutional_economics  institutional_investors  institutions  insurance  intellectual_history  intellectual_property  international_economics  international_finance  international_law  international_monetary_system  international_organizations  international_political_economy  international_system  investment  IR  IR-domestic_politics  IR_theory  Italy  journal  jstor  Keynesianism  kindle-available  Labor_markets  labor_share  law-and-economics  LDCs  legal_culture  legal_history  legitimacy  leverage  Lincoln  links  macroeconomics  macroprudential_policies  management  Manifest_Destiny  manufacturing  maritime_issues  markets  markets-structure  mercantilism  mercantilism-violence  mercenaries  military  military_history  Minsky  MNCs  monarchy  monetary_policy  monopolies  multilateralism  multipolar  nation-state  national_ID  national_interest  national_security  Native_Americans  NATO  NBFI  neo-imperialism  neoliberalism  networks  NGOs  NPT  OECD_economies  opposition  orientalism  Other  paper  patriarchy  pensions  Pentagon  Phillip_II  plutocracy  Pocket  political_culture  political_economy  political_history  political_nation  political_participation  political_sociology  population  post-Cold_War  post-colonial  post-WWII  postmodern  poverty  power-asymmetric  precautionary_principle  privatization  probability  production  profit  property  property_rights  public_finance  public_goods  public_health  public_policy  racism  rebellion  regulation  regulation-costs  regulation-enforcement  regulation-harmonization  rent-seeking  rents  report  reviews  risk  risk-mitigation  risk-systemic  risk_assessment  risk_management  Rodrik  ruling_class  Russia  Russia-foreign_policy  science-public  Scientific_Revolution  SDGs  securitization  shadow_banking  slavery  social_history  social_order  social_sciences-post-WWII  social_theory  sociology_of_knowledge  sovereignty  sovereign_debt  Spain  Spanish_Empire  SSRN  stagnation  state-building  state-transnatiinal_relations  statistics  structural_adjustment  sustainability  systems-complex_adaptive  systems_theory  tax_collection  technical_assistance  technocracy  technology  technology_transfer  too-big-to-fail  trade  trade-agreements  trade-policy  trade_routes  transnational_elites  Trump  UN  uncertainty  unemployment  UNEP  universalism  urbanization  urban_development  US-China  US_Civil_War  US_constitution  US_economy  US_foreign_policy  US_government  US_history  US_legal_system  US_military  US_politics  US_society  Victorian  violence  volatility  warfare-irregular  water  website  Westphalia  Wiley  World_Bank  world_systems  WTO 

Copy this bookmark:



description:


tags: