As the globalization of economic production reshapes domestic
economic activity and redefines the substance of international
politics, the importance of international economic policy is
becoming more widely appreciated. This book is a revised and
updated edition of the definitive study of the decision-making
process in all sectors--trade, finance, development, and energy--of
U.S. international economic policy. Students and practitioners of
economics and political science will find it invaluable in
understanding how process affects substance in some of the most
far-reaching policies being made in Washington.
Straddling two of the nation's highest priorities--economic
prosperity and national security--international economic policy
necessitates continuous trade-offs from conflicting perspectives,
making organization and procedure inherently significant
determinants of a critically important policy. Opening with an
explanation of the complex nature of the policy and its importance
in political and economic terms, the book then examines the
identities, responsibilities, attitudes, constituents, and
institutional cultures of the executive branch, Congress, and
interest groups involved in the formulation and conduct of policy.
After considering the hardware of policymaking, the volume examines
the major theories and decision-making models. It then focuses on
the delicate relationship between the administration and Congress,
illustrated by three case studies. In conclusion, the work assesses
the strengths and weaknesses of the current policymaking process
and offers recommendations for improvement.
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