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How does the decline of the hegemon--the dominant, rule-making power of the international system--affect middle-level nations? By examining monetary and credit policy in postwar France, Michael Loriaux illuminates this question, tracing the relationship of domestic economic reform to specific changes in the international political economy which have resulted from U.S. hegemonic decline.
Japan, South Korea, Mexico, France, and Spain once exercised significant control over the allocation of credit, and used that control to facilitate economic adjustment and industrial development. In the 1980s all that changed. Why and how these states dismantled their activist credit policies is the subject of Capital Ungoverned. The volume brings together five specialists in the economics and politics of these various states to assess the internal and global changes that prompted them to adopt financial liberalization.Comparison reveals the distinctive political and institutional logic that guided liberalization in each country--from the role of a newly dominant capitalist class in Korea to the replacement of state financing by private financing and self-financing in Japan, from the maneuvers of the banking establishment in Spain to attempts to attract foreign capital in Mexico. At the same time, these cases clarify the importance of international factors, in particular the shifts that occurred in U.S. policy as it sought to respond to the effects of uneven growth in the world economy.
Defined by custom and treaty, and now increasingly embodied in charters, regulations, and resolutions of international organizations, does the existence of international law point to progress in humankind's capacity for moral conduct? Or does the lack of a discernible ethical foundation in either law or political action make progress impossible to define? In Law and Moral Action in World Politics, the authors -- activists and scholars of international law and international relations -- pose these questions in new ways. Some adhere to a progressive reading of the law; others adopt a critical stance. Topics included the function and historical evolution of the law; the cultural and intellectual assumptions of influential legal texts; and the experiences of legal activists in using law to pursue moral ends, including the rights of indigenous people and the protection of international law itself.
This book highlights the role of "profiteers" in political efforts to expand market-based competition. Political struggles surrounding the gradual marketization of corporate control in Britain, Germany and France from the 1860s provide empirical illustration.
Annotation This work demonstrates how the Fiscal Investment Loan Program (FILP) enabled the Japanese government to run a neo-classical fiscal policy based on low budget spending from the end of the 1940s to 1970.
How philosophical differences between Eurozone nations led to the Euro crisis—and where to go from here Why is Europe’s great monetary endeavor, the Euro, in trouble? A string of economic difficulties in Eurozone nations has left observers wondering whether the currency union can survive. In this book, Markus Brunnermeier, Harold James, and Jean-Pierre Landau argue that the core problem with the Euro lies in the philosophical differences between the founding countries of the Eurozone, particularly Germany and France. But the authors also show how these seemingly incompatible differences can be reconciled to ensure Europe’s survival. Weaving together economic analysis and historical reflection, The Euro and the Battle of Ideas provides a forensic investigation and a road map for Europe’s future.
Globalization is one of the most significant developments of our time. But which elements of contemporary globalization and forms of autonomy are novel and which are merely continuations of long-standing trends? This book brings together a distinguished group of scholars who focus on historical moments that involved the establishment or protection of autonomy, moments that inevitably involved friction. By examining the dialectic between globalization and autonomy at historical junctures ranging from the Chinese occupation of Tibet in 1720 to the meeting between Reagan and Gorbachev that led to the end of the Cold War, this volume provides novel insights into the changes overtaking our contemporary world.
This book examines state responses to the financial crisis of 2007-9, arguing that economic logic alone cannot account for differences. The author argues that the answer lies in the politics of private governance. The book will appeal to scholars and advanced students of political economy, comparative politics, economic sociology, economics, and public policy.
Divisions of Labor positions the ideological and organizational evolution of the Japanese labor movement within the larger historical currents that shaped and organized labor globally in the twentieth century. Interspersing detailed narratives of Japanese labor history with analyses of parallel developments in Western European and international labor movements, Lonny Carlile shows how world views and labor movement strategies were shared across national boundaries and shaped in similar ways in the industrialized West and East. Beyond this, he highlights how in both Western Europe and Japan issues that had divided labor since the 1920s were central to the Cold War, which kept labor movements ...
The corporate governance systems of continental Europe have traditionally been quite different to those of the liberal market economies (e.g. the US and the UK). Company ownership has been dominated by incumbent blockholders, with a relatively minor role for minority shareholders and institutional investors. Business strategy has focused on the achievement of social stability - taking into account the interests of a broad group stakeholders - rather than the maximisation of shareholder value. However, since the mid-1990s, European corporations have adopted many of the characteristics of the Anglo-American shareholder model. Furthermore, such an increased shareholder-orientation has coincided...