A pioneering history traces the origins of global economic governance-and the political conflicts it generates-to the aftermath of World War I. International economic institutions like the IMF and World Bank exert incredible influence over the domestic policies of many states. These institutions date from the end of World War II and amassed power during the neoliberal era of the late twentieth century. But as Jamie Martin shows, if we want to understand their deeper origins and the ideas and dynamics that shaped their controversial powers, we must turn back to the explosive political struggles that attended the birth of global economic governance in the early twentieth century. The Meddlers tells the story of the first international institutions to govern the world economy, including the League of Nations and Bank for International Settlements, created after World War I. These institutions endowed civil servants, bankers, and colonial authorities from Europe and the United States with extraordinary powers: to enforce austerity, coordinate the policies of independent central banks, oversee development programs, and regulate commodity prices. In a highly unequal world, they faced a new political challenge: was it possible to reach into sovereign states and empires to intervene in domestic economic policies without generating a backlash? Martin follows the intense political conflicts provoked by the earliest international efforts to govern capitalism-from Weimar Germany to the Balkans, Nationalist China to colonial Malaya, and the Chilean desert to Wall Street. The Meddlers shows how the fraught problems of sovereignty and democracy posed by institutions like the IMF are not unique to late twentieth-century globalization, but instead first emerged during an earlier period of imperial competition, world war, and economic crisis.

INSTANT NEW YORK TIMES BESTSELLER "A new masterpiece from one of my favorite authors... [How The World Really Works] is a compelling and highly readable book that leaves readers with the fundamental grounding needed to help solve the world's toughest challenges."-Bill Gates "Provocative but perceptive . . . You can agree or disagree with Smil-accept or doubt his 'just the facts' posture-but you probably shouldn't ignore him."-The Washington Post An essential analysis of the modern science and technology that makes our twenty-first century lives possible-a scientist's investigation into what science really does, and does not, accomplish. We have never had so much information at our fingertips and yet most of us don't know how the world really works. This book explains seven of the most fundamental realities governing our survival and prosperity. From energy and food production, through our material world and its globalization, to risks, our environment and its future, How the World Really Works offers a much-needed reality check-because before we can tackle problems effectively, we must understand the facts. In this ambitious and thought-provoking book we see, for example, that globalization isn't inevitable-the foolishness of allowing 70 per cent of the world's rubber gloves to be made in just one factory became glaringly obvious in 2020-and that our societies have been steadily increasing their dependence on fossil fuels, such that any promises of decarbonization by 2050 are a fairy tale. For example, each greenhouse-grown supermarket-bought tomato has the equivalent of five tablespoons of diesel embedded in its production, and we have no way of producing steel, cement or plastics at required scales without huge carbon emissions. Ultimately, Smil answers the most profound question of our age: are we irrevocably doomed or is a brighter utopia ahead? Compelling, data-rich and revisionist, this wonderfully broad, interdisciplinary guide finds faults with both extremes. Looking at the world through this quantitative lens reveals hidden truths that change the way we see our past, present and uncertain future.

Based on the assumption that without understanding institutions, economists cannot make satisfactory policy prescriptions, this book draws some insightful conclusions on the strengths and limitations of applied economics in the field of heritage. Sicily provides an interesting and unique backdrop against which the study is set, demonstrating the economic complexities of heritage and the range of economic tools and concepts which can be employed to analyse it. The book is a compilation of various approaches that economists trained in different branches of economics have brought to bear on heritage. It considers the political economy of heritage policy from a variety of different perspectives. These include a study of the economic problems of defining and valuing culture and, through detailed case studies in the economics of regulation, an examination of the incentives and principal-agent problems in the management of heritage policy. The authors move on to discuss the public choice view of fiscal federalism and look at the problems of assessing the efficiency of policy measures. Finally, they provide an interesting overview of the national experiences of France, Scotland and Italy in terms of heritage policy. Taking a new institutional approach, this book is as much a concise manual of applied economics as a contribution to cultural economics. It stresses the need for an interdisciplinary approach to the study of heritage and offers a unique opportunity to understand law-making and administrative procedures in the civil code tradition. It will be essential reading for students, researchers and academics of cultural economics, as well as policymakers wanting to assess the value and efficiency of heritage policies.

The Political Economy of the New Deal explores the political and economic forces that shaped the highly uneven distribution of federal emergency relief spending during the Great Depression. It presents new empirical evidence on the Roosevelt administration's response to the Great Depression, and shows how this was influenced more by presidential politics than by the plight of the unemployed millions. The authors apply public choice theory to data produced by the Roosevelt administration to produce an empirical model of New Deal spending decisions. It reassesses the role played by politics in shaping the policies adopted by the New Dealers through a detailed analysis of the distribution of federal emergency relief funds. The authors present new econometric evidence supporting the idea that President Roosevelt used the New Deal to buy electoral votes. They suggest that states with healthier economies attracted disproportionately larger shares of the federal government's relief funds simply because they could afford the programs' costs; and that states whose citizens were in greatest economic need were required to bear more of the cost of financing projects. The results from this analysis suggest that while economic need was certainly not ignored, political considerations dominated the distribution of New Deal dollars. This book examines the origins of the modern American welfare state from a public choice perspective and will be of great interest to economists and political scientists, as well as those interested in the economic history of the United States.

Human Capital, Trade and Public Policy in Rapidly Growing Economies argues that only two centuries ago, no society had ever enjoyed sustained growth in living standards. The contributors to this book aim to discover why the world today exhibits a predilection for perpetual self-improvement.In particular, the book focuses on the forces underlying long-lasting growth in East Asia's Newly Industrialized Countries (NICs). Drawing from the experiences of Hong Kong, South Korea, Singapore and Taiwan, it questions whether public policy can contribute to removing barriers towards accumulation of wealth, and if so, what development policy should be put in place to remedy the existing distortions or market failure problems. Theoretical and empirical analyses are also used to broach other important issues, such as: Why do some economies experience growth while others decline? What are the major determinants of long-term growth and development? Is human capital the main driving force? Does international trade play a crucial role? This book will appeal to those with an interest in development and public policy.

By assessing various aspects of globalization through an analysis of issues currently facing states, decision makers, and individuals within communities, this book provides an essential tool for exploring the future implications of policies and decision-making processes. Topics such as ethics and civil liberties, information technology, the role of the United Nations, migration, and regional security are analyzed by a number of experts in the field, and each brief concludes with sound and concrete recommendations for action at the state level. Each topic is also covered by an editorial that looks at the relationship between challenges and policy recommendations in a new way. The diagrammatic representation of the editorials allows for a comprehensive and effective analysis of the relationship between state policy dilemmas and reactions.

A bold, thought-provoking pathway to the national solidarity that could, finally, address the ills of racism in America "Racism is an existential threat to America," Theodore R. Johnson declares at the start of his profound and exhilarating book. It is a refutation of the American Promise enshrined in our Constitution that all men and women are inherently equal. And yet racism continues to corrode our society. If we cannot overcome it, Johnson argues, while the United States will remain as a geopolitical entity, the promise that made America unique on Earth will have died. When the Stars Begin to Fall makes a compelling, ambitious case for a pathway to the national solidarity necessary to mitigate racism. Weaving memories of his own and his family's multi-generational experiences with racism, alongside strands of history, into his elegant narrative, Johnson posits that a blueprint for national solidarity can be found in the exceptional citizenship long practiced in Black America. Understanding that racism is a structural crime of the state, he argues that overcoming it requires us to recognize that a color-conscious society--not a color-blind one--is the true fulfillment of the American Promise. Fueled by Johnson's ultimate faith in the American project, grounded in his family's longstanding optimism and his own military service, When the Stars Begin to Fall is an urgent call to undertake the process of overcoming what has long seemed intractable.

Finalist, Helen Bernstein Book Award for Excellence in Journalism In the tradition of Eric Schlosser's Fast Food Nation, a groundbreaking global investigation into the industry ravaging the environment and global health--from the James Beard Award-winning journalist Over the past few decades, palm oil has seeped into every corner of our lives. Worldwide, palm oil production has nearly doubled in just the last decade: oil-palm plantations now cover an area nearly the size of New Zealand, and some form of the commodity lurks in half the products on U.S. grocery shelves. But the palm oil revolution has been built on stolen land and slave labor; it's swept away cultures and so devastated the landscapes of Southeast Asia that iconic animals now teeter on the brink of extinction. Fires lit to clear the way for plantations spew carbon emissions to rival those of industrialized nations. James Beard Award-winning journalist Jocelyn C. Zuckerman spent years traveling the globe, from Liberia to Indonesia, India to Brazil, reporting on the human and environmental impacts of this poorly understood plant. The result is Planet Palm, a riveting account blending history, science, politics, and food as seen through the people whose lives have been upended by this hidden ingredient. This groundbreaking work of first-rate journalism compels us to examine the connections between the choices we make at the grocery store and a planet under siege.

Differentiation was at first not perceived as a threat to the European project, but rather as a tool to promote further integration. Today, more EU policies than ever are marked by concentric circles of integration and a lack of uniform application. As the EU faces increasingly existential challenges, this timely book considers whether the proliferation of mechanisms of flexibility has contributed to this newly fragile state or whether, to the contrary, differentiation has been fundamental to integration despite the heterogeneity of national interests and priorities. Written by emerging and established experts in the field, the chapters examine the present and future of differentiation in EU law. Part I covers general institutional aspects, with contributors examining the nature and characteristics of the various institutional and extra-institutional forms of differentiation. Part II takes a policy-oriented perspective, focussing on areas of EU law and policy in which differentiated integration is prevalent or particularly intriguing. This includes Economic and Monetary Union, the internal market, justice and home affairs, and foreign policy. Differentiated integration is now a defining feature of the EU polity, with the potential to impact almost every facet of EU regulation. This book will be essential reading for students and academics in EU law or anyone interested in the future of EU integration. Contributors include: V. Borger, M. Dawson, M. de Visser, B. De Witte, W. Devroe, A. Durana, N. El-Enany, C. Fasone, E. Ferran, E. Herlin-Karnell, C. Herrmann, S. Kingston, P. Koutrakos, A. Ott, S. Peers, D. Thym, P. Van Cleynenbreugel, S. Van den Bogaert, A.P. van der Mei, E. Vos, M. Weimer

Sustainability and food production represent a major challenge to society, with both consumption and supply sides posing practical and ethical dilemmas. This book shows that food governance issues can occur in many ways and at many points along the food chain. The risks and impacts, particularly with the increasing globalisation of food systems, are often distributed in unequal ways. It is the role of law to form the pivot around which these issues are addressed in society in the form of food governance mechanisms. The chapters in this book address a range of issues in food governance revolving around questions of justice, fairness, equality and human rights. They identify different issues regarding inequality in access and control over food governance. Some address generic governance and institutional issues across a range of international contexts, while others present case studies, including from Argentina, China, India, Indonesia, Thailand, UK and West Africa. The book offers directions for reform of the law and legal institutions to mitigate the dangers of inequality and promote greater fairness in food governance.

The World Summit on Sustainable Development in Johannesburg clearly identified the corporate sector as one of the key actors in the delivery of national and international poverty reduction targets in developing countries. "Partnerships" between government, civil society and business were proposed as one means whereby these poverty reduction targets were to be achieved. Despite the rhetoric, there was less consideration of how such partnerships could work in practice, the outcomes that could be achieved, or the relative merits of partnerships over other, more traditional approaches to development. This book is about partnerships between the private sector, government and civil society. Its objective is to share practical experiences in establishing and implementing such partnerships and to show how partnerships work. The focus is on the oil, gas and mining industries, as these sectors have tended to be the primary drivers of foreign investment in developing countries. These corporations increasingly operate in regions characterised by poor communities and fragile environments. The more effective use of external relationships to ensure the effective contribution of these investments to poverty reduction and local environmental management is critical, for the companies, for government, and for the poor. Putting Partnerships to Work is based on the work of the Secretariat of the Natural Resources Cluster (NRC) of Business Partners for Development (BPD). This major research programme, which ran from 1998 to 2002, aimed to enhance the role of oil, gas and mining corporations in international development. The programme objective was to produce practical guidance, based on the experience of specific natural resource operations around the world, on how partnerships involving companies, government authorities and civil-society organisations can be an effective means of reducing investment risks and of promoting community and regional development. The programme encompassed partnerships in Colombia, Nigeria, India, Venezuela, Bolivia, Zambia, Azerbaijan, Indonesia and Tanzania. The specific projects that were implemented included not only "traditional" development projects such as the provision of water, healthcare or infrastructure but also themes as diverse as conflict prevention, regional development, micro-enterprise development and managing oil spill compensation. Based on the experience of establishing and implementing effective partnerships, the NRC identified good practice, and developed replicable guidelines, tools and training materials. This book is not only about good practice; it presents both the positive outcomes and lessons from the programme, as well as the risks and costs, and where things went wrong. It also provides evidence not only of the viability of partnerships (i.e. that partnerships "can work") but also evidence that partnership approaches can provide substantially better outcomes for all parties than can more traditional approaches to development or corporate social responsibility. For example, a road in India was constructed at 25% of the cost to government; it took just 11 months for a community health centre in Venezuela to become operational and with its long-term financial future assured; and primary education enrolment rates in the vicinity of a gold mine in Tanzania have jumped from a historic level of 60-80% to almost 100% (as a consequence of improved infrastructure and community awareness of the importance of education). These development and public-sector benefits have been accompanied by substantial business benefits, including significant reductions in the cost of community development initiatives and/or the leverage of additional resources, greater sustainability and viability of development projects and significant improvements to corporate reputation and their local "social licence to operate" with communities. The book argues that to achieve these benefits requires all parties to invest time and effort in first exploring the best design for the partnership, understanding the motivations of their potential partners and, once the partnership has been established, continuing to actively support the partnership and ensure its ongoing viability. Partnerships that engage the strengths of companies, government and civil society can, under the right conditions, yield better (and more sustainable) results for communities and for business than traditional approaches to development. The authors argue that, because it is built on the central idea of each partner "doing what they do best", the partnership approach offers an opportunity to rethink the way in which companies view they contributions to the livelihoods of local communities. Through partnerships it is possible that community development will be seen less as an "add-on" or "cost" to the company but more an integral part of business strategy providing significant commercial and other benefits. Perhaps most importantly, partnerships offer the potential for regional operating companies to change the perceptions of government and of civil society that the company will take the primary responsibility for local development. Rather, partnerships enable companies to locate themselves as one of (but not the only) agent of development in the local region. Partnerships enable communities to take charge of their own development needs, interacting with government to jointly design and maintain public services. They also allow government to play its proper role of fulfilling its public mandate, delivering necessary services and ensuring the quality and sustainability of development impacts. The challenges of poverty reduction in the developing world are so great that no one sector can address them on its own. Partnerships between business, government and civil society are a means of addressing this most fundamental of truths. It is hoped that this book will provide a road map for all those working towards making the elimination of poverty a reality.

Population aging is perhaps the single biggest economic and social obstacle confronting Asia's future. The region-wide demographic transition towards an older population is fundamentally reshaping the demographic landscape, and is giving rise to two key socio-economic challenges. This timely book provides an in-depth analysis of these challenges and presents concrete policy options for tackling them. First, the expert contributors argue, Asia must find ways to sustain rapid economic growth in the face of less favorable demographics, which implies slower growth of the workforce. Second, they contend, Asia must find ways to deliver affordable, adequate, and sustainable old-age economic security for its growing elderly population. Underpinned by rigorous analysis, a wide range of concrete policy options for sustaining economic growth while delivering economic security for the elderly are then presented. These include Asia-wide policy options - relevant to the entire region - such as building up strong national pension systems, while other policy options are more relevant to sub-groups of countries. This stimulating and informative book will be of great interest to academics, students, and researchers with an interest in Asian studies, economics generally, and, more specifically, public sector economics. Contributors: Q. Chen, K. Eggleston, G. Estrada, L. Ladusingh, M.S. Lai, S.-H. Lee, L. Li, A. Mason, R. Matsukura, M.R. Narayana, N. Ogawa, D. Park, A. Ramayandi, K. Shin, A.-C. Tung

WINNER OF THE WOLFSON HISTORY PRIZE Paul Kennedy's international bestseller is a sweeping account of five hundred years of fluctuating economic muscle and military might. Kennedy's masterwork begins in the year 1500, at a time of various great centres of power including Minh China, the Ottomans, the rising Mughal state, the nations of Europe. But it was the latter which, through competition, economic growth and better military organisation, came to dominate the globe - until challenged later by Japan, the Soviet Union, and the United States. Now China, boosted by its own economic prowess, rises to the fore. Throughout this brilliant work, Kennedy persuasively demonstrates the interdependence of economic and military power, showing how an imbalance between the two has historically led to spectacular political disaster. Erudite and brilliantly original, The Rise and Fall of the Great Powers is essential reading for anyone with an interest in the politics of power.

In post-Brexit Britain wracked by multiple crises, the entitlements of citizenship grow increasingly precarious. 'Britishness' is a way of understanding the nation shaped by white nationalism that acts as a powerful tool of racial bordering, separating the deserving from the undeserving. In The Violence of Britishness, Nadya Ali examines the impact of counter-terrorism and immigration policy on Muslims and other racially minoritised groups. Dissecting the Prevent strategy, she shows how Muslims have been compelled to reform their conduct and their faith in order to prove their 'Britishness', or risk being labelled an 'extremist' and made vulnerable to further state violence. Situating this within broader changes such as the hostile environment, austerity, and the cost of living crisis, who gets what is increasingly decided through who counts as sufficiently 'British'.

This book looks specifically at a number of topics that deal with the changing nature of the state in the era of globalization, and the impact of this transformation on global security and stability. Each topic is also represented by a diagram assessing and illustrating the linkages between the challenges currently facing states and recommendations for ways in which the state can move forward. This book may serve as a reference guide for practitioners, students, and academic institutions that work to provide solutions to contemporary conflicts and security threats. Topics addressed include the proliferation of weapons of mass destruction, arms control, energy security, natural disasters, the changing role of the North Atlantic Treaty Organisation (NATO), health paradigms, and US environmental policy.

This unique book deals with the most serious macroeconomic failure experienced in the US in the post-war period and the great inflation of the late 1960s and 1970s. It is the first detailed analysis, using Federal Reserve documents, of the thinking behind the inflationary monetary policy during this period. The book examines documentary evidence, including minutes, memos and reports and interviews with people who were closely involved in making policy decisions, to explain the monetary policy that led to this inflation. Thomas Mayer considers forecasting errors and wage and price controls in his attempt to explain why the inflation occurred and places some of the blame on ineffective operating procedures, institutional inefficiencies, and political pressures on the Federal Reserve. The author concludes that much of the responsibility for the mistaken policies lies with academic economists who underestimated the dangers of inflation and encouraged the Federal Reserve to focus on an unattainable employment goal. Monetary Policy and the Great Inflation in the United States will be welcomed by economists, political scientists and economic historians interested in monetary policy.

Homeownership--a core American Dream--remains elusive to millions of families priced out of the unstable housing market. This book explores the delicate balance between regulations designed to promote the production of sound, affordable housing in safe community environments and the red tape in which housing developers become entangled.

Based on case studies of communities in New Jersey and North Carolina, and building on extensive research on the housing development regulatory process, the authors examine the incidence of regulation and quantify the actual itemized costs of excessive regulation. How are the costs of excessive regulation distributed between developers and home buyers? How can state and local jurisdictions reform deeply entrenched regulatory systems to ease the delivery of affordable housing from developer to purchaser?

Red Tape and Housing Costs examines the incidence of regulation. The distribution of these costs is critical to housing affordability. At the same time, developers shift to building housing for consumers to whom they can pass on the increasing costs of regulation. Michael I. Luger and Kenneth Temkin provide policymakers and housing advocates with hard facts and reasoned explanations about the link between excessive regulations and spiraling housing costs. The authors argue that their analysis will allow policymakers to launch efforts to create responsible housing development regulatory systems.