Michael Wallerstein was a leader in developing a rigorous comparative political economy approach to understanding substantive issues of inequality, redistribution, and wage-determination. His early death from cancer left both a hole in the profession and a legacy that will surely provide the foundation for research on these topics. This volume collects his most important and influential contributions, organized by topic, with each topic preceded by an editorial introduction that provides overview and context.

The U.S. economy lost the first decade of the twenty-first century to an ill-conceived boom and subsequent bust. It is in danger of losing another decade to the stagnation of an incomplete recovery. How did this happen? Read this lucid explanation of the origins and long-term effects of the recent financial crisis, drawn in historical and comparative perspective by two leading political economists.

By 2008 the United States had become the biggest international borrower in world history, with more than two-thirds of its $6 trillion federal debt in foreign hands. The proportion of foreign loans to the size of the economy put the United States in league with Mexico, Indonesia, and other third-world debtor nations. The massive inflow of foreign funds financed the booms in housing prices and consumer spending that fueled the economy until the collapse of late 2008. This was the most serious international economic crisis since the Great Depression of the 1930s.

Menzie Chinn and Jeffry Frieden explain the political and economic roots of this crisis as well as its long-term effects. They explore the political strategies behind the Bush administration s policy of funding massive deficits with foreign borrowing. They show that the crisis was foreseen by many and was avoidable through appropriate policy measures. They examine the continuing impact of our huge debt on the continuing slow recovery from the recession. Lost Decades will long be regarded as the standard account of the crisis and its aftermath."

Modern Political Economy and Latin America consists of 35 carefully selected readings about the relationship between politics and economics in Latin American. Jeffry Frieden, Manuel Pastor, Jr., and Michael Tomz have edited the readings, organized them thematically, and included a series of introductions to guide readers through the material. The e

Now in its fourth edition, this best-selling reader in international political economy offers 31 solid articles - 15 new - by renowned scholars in political science and economics. Frieden and Lake have edited and introduced each reading with care to ensure its accessibility to students who are new to the subject. This reader continues to offer a provocative look at the postive and negative impacts of globalization.

A wonderful blend of “politics and economics, micro and macro, past and present in an accessible narrative” (The Washington Post), Global Capitalism presents an authoritative history of the twentieth-century global economy. Jeffry A. Frieden’s discussion of the financial crisis of 2008 explores its causes, the many warning signals for policymakers and its repercussions: a protracted recovery with accumulating levels of inequality and political turmoil in the European Union and the United States. Frieden also highlights China’s dramatic rise as the world’s largest manufacturer and trading nation, perhaps the most far-reaching development of the new millennium. Drawing parallels between the current period and the decades before the First World War, when the first era of global economic integration gave way to nationalist rivalry, Frieden’s history clearly shows that globalisation is neither inevitable nor irreversible but a political choice. • With a new chapter on the great financial crisis and the retreat from global integration.

"Modern Political Economy and Latin America "consists of 35 carefully selected readings about the relationship between politics and economics in Latin American. Jeffry Frieden, Manuel Pastor, Jr., and Michael Tomz have edited the readings, organized them thematically, and included a series of introductions to guide readers through the material. The editors identify the theoretical underpinnings of each article and highlight its contribution to ongoing debates. Latin American economies are undergoing profound transformations. In the wake of a decade-long debt crisis, countries through the region are embracing the free market and rebuilding democratic institutions. Nonetheless, significant obstacles to the consolidation of economic and political reform lie ahead. Modern political economy, informed by recent advances in economics and political science, provides powerful tools for analyzing the challenges and opportunities facing Latin America. This book offers an innovative and accessible guide to these new analytical tools.

Now in its fourth edition, this best-selling reader in international political economy offers 31 solid articles - 15 new - by renowned scholars in political science and economics. Frieden and Lake have edited and introduced each reading with care to ensure its accessibility to students who are new to the subject. This reader continues to offer a provocative look at the postive and negative impacts of globalization.

Michael Wallerstein was a leader in developing a rigorous comparative political economy approach to understanding substantive issues of inequality, redistribution, and wage-determination. His early death from cancer left both a hole in the profession and a legacy that will surely provide the foundation for research on these topics. This volume collects his most important and influential contributions, organized by topic, with each topic preceded by an editorial introduction that provides overview and context.

The exchange rate is the most important price in any economy, since it affects all other prices. Exchange rates are set, either directly or indirectly, by government policy. Exchange rates are also central to the global economy, for they profoundly influence all international economic activity. Despite the critical role of exchange rate policy, there are few definitive explanations of why governments choose the currency policies they do. Filled with in-depth cases and examples, Currency Politics presents a comprehensive analysis of the politics surrounding exchange rates. Identifying the motivations for currency policy preferences on the part of industries seeking to influence politicians, Jeffry Frieden shows how each industry's characteristics--including its exposure to currency risk and the price effects of exchange rate movements--determine those preferences. Frieden evaluates the accuracy of his theoretical arguments in a variety of historical and geographical settings: he looks at the politics of the gold standard, particularly in the United States, and he examines the political economy of European monetary integration. He also analyzes the politics of Latin American currency policy over the past forty years, and focuses on the daunting currency crises that have frequently debilitated Latin American nations, including Mexico, Argentina, and Brazil. With an ambitious mix of narrative and statistical investigation, Currency Politics clarifies the political and economic determinants of exchange rate policies.

In the 1970s and 1980s the countries of Latin America dealt with their similar debt problems in very different ways--ranging from militantly market-oriented approaches to massive state intervention in their economies--while their political systems headed toward either democracy or authoritarianism. Applying the tools of modern political economy to a developing-country context, Jeffry Frieden analyzes the different patterns of national economic and political behavior that arose in Argentina, Brazil, Chile, Mexico, and Venezuela. This book will be useful to those interested in comparative politics, international studies, development studies, and political economy more generally. "Jeffry Frieden weaves together a powerful theoretical framework with comparative case studies of the region's five largest debtor states. The result is the most insightful analysis to date of how the interplay between politics and economics in post-war Latin America set the stage for the dramatic events of the 1980s."--Carol Wise, Center for Politics and Policy, Claremont Graduate School

Writing in Life magazine in February 1941, Henry Luce memorably announced the arrival of "The American Century." The phrase caught on, as did the belief that America's moment was at hand. Yet as Andrew J. Bacevich makes clear, that century has now ended, the victim of strategic miscalculation, military misadventures, and economic decline. To take stock of the short American Century and place it in historical perspective, Bacevich has assembled a richly provocative range of perspectives. What did this age of reputed American preeminence signify? What caused its premature demise? What legacy remains in its wake? Distinguished historians Jeffry Frieden, Akira Iriye, David Kennedy, Walter LaFeber, Jackson Lears, Eugene McCarraher, Emily Rosenberg, and Nikhil Pal Singh offer illuminating answers to these questions. Achievement and failure, wisdom and folly, calculation and confusion all make their appearance in essays that touch on topics as varied as internationalism and empire, race and religion, consumerism and globalization. As the United States grapples with protracted wars, daunting economic uncertainty, and pressing questions about exactly what role it should play in a rapidly changing world, understanding where the nation has been and how it got where it is today is critical. What did the forging of the American Century-with its considerable achievements but also its ample disappointments and missed opportunities-ultimately yield? That is the question this important volume answers.