Politics in the New Hard Times

The Great Recession in Comparative Perspective
Author: Miles Kahler,David A. Lake
Publisher: Cornell University Press
ISBN: 0801467624
Category: Political Science
Page: 320
View: 4076

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The Great Recession and its aftershocks, including the Eurozone banking and debt crisis, add up to the worst global economic crisis since the Great Depression of the 1930s. Although economic explanations for the Great Recession have proliferated, the political causes and consequences of the crisis have received less systematic attention. Politics in the New Hard Times is the first book to focus on the Great Recession as a political crisis, one with both political sources and political consequences. The authors examine variation in crises over time and across countries, rather than treating these events as undifferentiated shocks. Chapters also explore how crisis has forced the redefinition and reinforcement of interests at the level of individual attitudes and in national political coalitions. Throughout, the authors stress that the Great Recession is only the latest in a long history of international economic crises with significant political effects-and that it is unlikely to be the last. Contributors: Suzanne Berger, MIT; J. Lawrence Broz, University of California, San Diego; Peter Cowhey, University of California, San Diego; Peter A. Gourevitch, University of California, San Diego; Stephan Haggard, University of California, San Diego; Peter A. Hall, Harvard University; Miles Kahler, University of California, San Diego; Peter J. Katzenstein, Cornell University; Ikuo Kume, Waseda University; David A. Lake, University of California, San Diego; Megumi Naoi, University of California, San Diego; Stephen C. Nelson, Northwestern University; Pablo Pinto, Columbia University; James Shinn, Princeton University

Politics in Hard Times

Comparative Responses to International Economic Crises
Author: Peter Alexis Gourevitch,Peter Gourevitch
Publisher: Cornell University Press
ISBN: 9780801494369
Category: Political Science
Page: 267
View: 4813

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EU Fiscal Policy Coordination in Hard Times

Free Riders on the Storm
Author: Charlotte Rommerskirchen
Publisher: Oxford University Press
ISBN: 0192564218
Category: Political Science
Page: 256
View: 6773

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What happens to European Union (EU) fiscal policy coordination in hard times? Recent accounts of the EU have portrayed the union as plagued by an austerity regime and rampant moral hazard. Charlotte Rommerskirchen provides an alternative account of economic cooperation in Europe during the Great Recession and the European Debt Crisis. Drawing on Mancur Olson's theory of collective action, this volume combines evidence from statistical analysis and extensive interviews with key players. This book reaches an unexpected conclusion regarding the state of collective action in times of crises: Free riding was not rife. Despite heated accusations, member states crisis policies matched their fiscal room for manoeuvre. The real collective action failure is instead diagnosed in the inability to sanction free riders at the EU level and empowering erratic bond markets to discipline governments.

The System Worked

How the World Stopped Another Great Depression
Author: Daniel W. Drezner
Publisher: Oxford University Press
ISBN: 0199912122
Category: Political Science
Page: 280
View: 681

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International institutions, from the International Monetary Fund to the International Olympic Committee, are perceived as bastions of sclerotic mediocrity at best and outright corruption at worst, and this perception is generally not far off the mark. In the wake of the 2008 financial crash, Daniel W. Drezner, like so many others, looked at the smoking ruins of the global economy and wondered why global economic governance structure had failed so spectacularly, and what could be done to reform them in the future. But then a funny thing happened. As he surveyed their actions in the wake of the crash, he realized that the evidence pointed to the exact opposite conclusion: global economic governance had succeeded. In The System Worked, Drezner, a renowned political scientist and international relations expert, contends that despite the massive scale and reverberations of this latest crisis (larger, arguably, than those that precipitated the Great Depression), the global economy has bounced back remarkably well. Examining the major resuscitation efforts by the G-20 IMF, WTO, and other institutions, he shows that, thanks to the efforts of central bankers and other policymakers, the international response was sufficiently coordinated to prevent the crisis from becoming a full-fledged depression. Yet the narrative about the failure of multilateral economic institutions persists, both because the Great Recession affected powerful nations whose governments managed their own economies poorly, and because the most influential policy analysts who write the books and articles on the crisis hail from those nations. Nevertheless, Drezner argues, while it's true that the global economy is still fragile, these institutions survived the "stress test" of the financial crisis, and may have even become more resilient and valuable in the process. Bucking the conventional wisdom about the new "G-Zero World," Drezner rehabilitates the image of the much-maligned international institutions and demolishes some of the most dangerous myths about the financial crisis. The System Worked is a vital contribution to our understanding of an area where the stakes could not be higher.

Two Crises, Different Outcomes

East Asia And Global Finance
Author: T. J. Pempel,Keiichi Tsunekawa
Publisher: Cornell University Press
ISBN: 0801455014
Category: Political Science
Page: 320
View: 4803

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Two Crises, Different Outcomes examines East Asian policy reactions to the two major crises of the last fifteen years: the global financial crisis of 2008–9 and the Asian financial crisis of 1997–98. The calamity of the late 1990s saw a massive meltdown concentrated in East Asia. In stark contrast, East Asia avoided the worst effects of the Lehman Brothers collapse, incurring relatively little damage when compared to the financial devastation unleashed on North America and Europe. Much had changed across the intervening decade, not least that China rather than Japan had become the locomotive of regional growth, and that the East Asian economies had taken numerous steps to buffer their financial structures and regulatory regimes. This time, Asia avoided disaster; it bounced back quickly after the initial hit and has been growing in a resilient fashion ever since. The authors of this book explain how the earlier financial crisis affected Asian economies, why government reactions differed so widely during that crisis, and how Asian economies weathered the Great Recession. Drawing on a mixture of single-country expertise and comparative analysis, they conclude by assessing the long-term prospects that Asian countries will continue their recent success. Contributors: Muhamad Chatib Basri, Minister of Finance of the Republic of Indonesia and Professor of Economics at the University of Indonesia; Yun-han Chu, Institute of Political Science, Academia Sinica; Richard Doner, Emory University; Barry Naughton, University of California, San Diego; Yasunobu Okabe, Japan International Cooperation Agency Research Institute; T. J. Pempel, University of California, Berkeley; Tom Pepinsky, Cornell University; Keiichi Tsunekawa, National Graduate Institute for Policy Studies, Tokyo

Globalizing in Hard Times

The Politics of Banking-sector Opening in the Emerging World
Author: Leonardo Martinez-Diaz
Publisher: Cornell University Press
ISBN: 0801459559
Category: Business & Economics
Page: 231
View: 3835

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In Globalizing in Hard Times, Leonardo Martinez-Diaz examines the sudden and substantial increase in cross-border ownership of commercial banks in countries where bank ownership had long been restricted by local rules. Many parties—the World Bank and the IMF, the world's largest commercial banks, their home governments, and their negotiators—had been pushing for a relaxation of ownership rules since the early 1980s and into the 1990s, when bank profitability levels in advanced industrial societies went flat. In their hunt for higher returns on assets, the major banks looked to expand business overseas, but through the mid-1990s their efforts to impose more liberal ownership regimes in nationalist countries proved largely unsuccessful. Martinez-Diaz illustrates the ongoing political resistance to liberalized ownership rules in Mexico, Indonesia, Brazil, and South Korea. He then demonstrates the importance of a series of events—the Mexican crisis and the Brazilian banking shock in 1994–1995 and the Asian crisis of 1997–1998 among them—in finally knocking down barriers to foreign ownership of banks. After these upheavals, policymakers who were worried about their political survival—and who were sometimes pressed by the IMF and foreign governments—reshaped the regulatory environment in key emerging markets. Self-proclaimed global banks eagerly grasped the opportunity to expand their operations worldwide, but after the initial shock, domestic politics reasserted themselves, often diluting the new, liberal rules.

Die Macht der Geographie

Wie sich Weltpolitik anhand von 10 Karten erklären lässt
Author: Tim Marshall
Publisher: Deutscher Taschenbuch Verlag
ISBN: 3423428562
Category: History
Page: 304
View: 349

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Wie Geografie Geschichte macht Weltpolitik ist auch Geopolitik. Alle Regierungen, alle Staatschefs unterliegen den Zwängen der Geographie. Berge und Ebenen, Flüsse, Meere, Wüsten setzen ihrem Entscheidungsspielraum Grenzen. Um Geschichte und Politik zu verstehen, muss man selbstverständlich die Menschen, die Ideen, die Einstellungen kennen. Aber wenn man die Geographie nicht mit einbezieht, bekommt man kein vollständiges Bild. Zum Beispiel Russland: Von den Moskauer Großfürsten über Iwan den Schrecklichen, Peter den Großen und Stalin bis hin zu Wladimir Putin sah sich jeder russische Staatschef denselben geostrategischen Problemen ausgesetzt, egal ob im Zarismus, im Kommunismus oder im kapitalistischen Nepotismus. Die meisten Häfen frieren immer noch ein halbes Jahr zu. Nicht gut für die Marine. Die nordeuropäische Tiefebene von der Nordsee bis zum Ural ist immer noch flach. Jeder kann durchmarschieren. Russland, China, die USA, Europa, Afrika, Lateinamerika, der Nahe Osten, Indien und Pakistan, Japan und Korea, die Arktis und Grönland: In zehn Kapiteln zeigt Tim Marshall, wie die Geographie die Weltpolitik beeinflusst und beeinflusst hat.

The Power of Inaction

Bank Bailouts in Comparison
Author: Cornelia Woll
Publisher: Cornell University Press
ISBN: 0801471141
Category: Business & Economics
Page: 200
View: 1558

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Bank bailouts in the aftermath of the collapse of Lehman Brothers and the onset of the Great Recession brought into sharp relief the power that the global financial sector holds over national politics, and provoked widespread public outrage. In The Power of Inaction, Cornelia Woll details the varying relationships between financial institutions and national governments by comparing national bank rescue schemes in the United States and Europe. Woll starts with a broad overview of bank bailouts in more than twenty countries. Using extensive interviews conducted with bankers, lawmakers, and other key players, she then examines three pairs of countries where similar outcomes might be expected: the United States and United Kingdom, France and Germany, Ireland and Denmark. She finds, however, substantial variation within these pairs. In some cases the financial sector is intimately involved in the design of bailout packages; elsewhere it chooses to remain at arm’s length. Such differences are often ascribed to one of two conditions: either the state is strong and can impose terms, or the state is weak and corrupted by industry lobbying. Woll presents a third option, where the inaction of the financial sector critically shapes the design of bailout packages in favor of the industry. She demonstrates that financial institutions were most powerful in those settings where they could avoid a joint response and force national policymakers to deal with banks on a piecemeal basis. The power to remain collectively inactive, she argues, has had important consequences for bailout arrangements and ultimately affected how the public and private sectors have shared the cost burden of these massive policy decisions.

The Status Quo Crisis

Global Financial Governance After the 2008 Meltdown
Author: Eric Helleiner
Publisher: Oxford University Press
ISBN: 0199973652
Category: Political Science
Page: 240
View: 3586

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The 2008 financial crisis was the worst since the Great Depression and many voices argued that it would transform global financial governance. Analysts anticipated a "Bretton Woods moment", referring to the 1944 conference that established the postwar international financial order. Widespread expectations of change were then reinforced by the creation of the G20 leaders' forum, extensive debates about the dollar's global role, the launching of international financial regulatory reforms, and the establishment of the Financial Stability Board. But half a decade later, how much has really changed? In The Status Quo Crisis, Helleiner surveys the landscape and argues that continuity has marked global financial governance more than dramatic transformation. The G20 leaders forum contributed much less to the management of the crisis than advertised. The US dollar remains unchallenged as the world's dominant international currency. The market-friendly nature of pre-crisis international financial regulation has been not overturned in a significant manner. And the Financial Stability Board has strengthened the governance of international financial standards in only very modest ways. What we are left with are some small-bore incremental changes that, collectively, have not fundamentally restructured the governance of the global financial system. Helleiner argues that this strangely conservative result was generated partly by the structural power and active policy choices of the country at the center of the crisis: the United States. Status quo outcomes also reflected the unexpected weakness of Europe and conservatism of policymakers in large emerging market countries. Only if this distinct configuration of power and politics among and within influential states shifted in the coming years might the 2008 crisis leave a more transformative legacy over the longer term. Cutting against much of the received wisdom on offer today, The Status Quo Crisis will be essential reading for those interested in the politics of global finance and for anyone curious how expectations of change can be thwarted after even in the most dire of crises.

Political Power and Corporate Control

The New Global Politics of Corporate Governance
Author: Peter A. Gourevitch,James Shinn
Publisher: Princeton University Press
ISBN: 9781400837014
Category: Business & Economics
Page: 368
View: 2047

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Why does corporate governance--front page news with the collapse of Enron, WorldCom, and Parmalat--vary so dramatically around the world? This book explains how politics shapes corporate governance--how managers, shareholders, and workers jockey for advantage in setting the rules by which companies are run, and for whom they are run. It combines a clear theoretical model on this political interaction, with statistical evidence from thirty-nine countries of Europe, Asia, Africa, and North and South America and detailed narratives of country cases. This book differs sharply from most treatments by explaining differences in minority shareholder protections and ownership concentration among countries in terms of the interaction of economic preferences and political institutions. It explores in particular the crucial role of pension plans and financial intermediaries in shaping political preferences for different rules of corporate governance. The countries examined sort into two distinct groups: diffuse shareholding by external investors who pick a board that monitors the managers, and concentrated blockholding by insiders who monitor managers directly. Examining the political coalitions that form among or across management, owners, and workers, the authors find that certain coalitions encourage policies that promote diffuse shareholding, while other coalitions yield blockholding-oriented policies. Political institutions influence the probability of one coalition defeating another.

Hard Times in the Lands of Plenty

Oil Politics in Iran and Indonesia
Author: Benjamin B. Smith
Publisher: Cornell University Press
ISBN: 9780801444395
Category: Business & Economics
Page: 243
View: 2490

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Smith deciphers the paradox of the resource curse and questions its inevitability through an innovative comparison of the experiences of Iran and Indonesia.

The Politics of Welfare State Reform in Continental Europe

Modernization in Hard Times
Author: Silja Häusermann
Publisher: Cambridge University Press
ISBN: 1139485903
Category: Political Science
Page: N.A
View: 1956

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This book challenges existing theories of welfare state change by analyzing pension reforms in France, Germany, and Switzerland between 1970 and 2004. It explains why all three countries were able to adopt far-reaching reforms, adapting their pension regimes to both financial austerity and new social risks. In a radical departure from the neo-institutionalist emphasis on policy stability, the book argues that socio-structural change has led to a multidimensional pension reform agenda. A variety of cross-cutting lines of political conflict, emerging from the transition to a post-industrial economy, allowed governments to engage in strategies of political exchange and coalition-building, fostering broad cross-class coalitions in support of major reform packages. Methodologically, the book proposes a novel strategy to analyze lines of conflict, configurations of political actors, and coalitional dynamics over time. This strategy combines quantitative analyses of actor configurations based on coded policy positions with in-depth case studies.

Hard Power

The New Politics of National Security
Author: Kurt Campbell,Michael O'Hanlon
Publisher: Hachette UK
ISBN: 046500380X
Category: History
Page: 336
View: 6524

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Our ideas about national security have changed radically over the last five years. It has become a political tool, a "wedge issue," a symbol of pride and fear. It is also the one issue above all others that can make or break an election. And this is why the Democratic Party has been steadily losing power since 2001. In Hard Power, Michael O'Hanlon, an expert on foreign policy at the Brookings Institution, and Kurt Campbell, an authority on international security at the Center for Strategic and International Studies, explain how the Democrats lost credibility on issues of security and foreign policy, how they can get it back--and why they must. They recall the successful Democratic military legacy of past decades, as well as recent Democratic innovations--like the Homeland Security Office and the idea of nation-building--that have been successfully co-opted by the Republican administration. And, most importantly, they develop a broad national security vision for America, including specific defense policies and a strategy to win the war on terror.

Globalization and the New Politics of Embedded Liberalism


Author: Jude C. Hays
Publisher: Oxford University Press
ISBN: 0199888000
Category: Business & Economics
Page: 208
View: 9964

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As the world economy slides into the worst recession since the 1930s, there is fear that hard times will ignite a backlash against free trade policies and globalization more generally. This book explores the political and economic institutional foundations of the bargain of embedded liberalism and the ways domestic institutions shape how governments redistribute the risks and benefits of economic globalization. The author identifies the Anglo-American democracies, because of their majoritarian polities combined with decentralized, competitive economies, as uniquely vulnerable to the contemporary challenges of globalization and the most susceptible to a backlash against it.

Entscheidungen


Author: Hillary Rodham Clinton
Publisher: Droemer eBook
ISBN: 3426437716
Category: Fiction
Page: 912
View: 815

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Seit mehr als zwanzig Jahren steht Hillary Rodham Clinton im Rampenlicht der internationalen Politik – zunächst als First Lady im Weißen Haus, dann als Senatorin des Bundesstaates New York und schließlich als Außenministerin im Kabinett von Barack Obama. Nun bewirbt sie sich für die Demokraten als Kandidatin für die nächste Präsidentschaft. In ihrem so politischen wie persönlichen Buch schildert Clinton Hintergründe und Zusammenhänge der wichtigsten politischen Ereignisse und formuliert ihre Vorstellungen von der Rolle, die die Vereinigten Staaten angesichts der globalen Herausforderungen spielen sollte.

The New Politics of North Carolina


Author: Christopher A. Cooper,H. Gibbs Knotts
Publisher: UNC Press Books
ISBN: 1469606585
Category: Political Science
Page: 328
View: 1623

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Political scientist V. O. Key in 1949 described North Carolina as a "progressive plutocracy." He argued that in the areas of industrial development, public education, and race relations, North Carolina appeared progressive when compared to other southern states. Reconsidering Key's evaluation nearly sixty years later, contributors to this volume find North Carolina losing ground as a progressive leader in the South. The "new politics" of the state involves a combination of new and old: new opportunities and challenges have forced the state to change, but the old culture still remains a powerful force. In the eleven essays collected here, leading scholars of North Carolina politics offer a systematic analysis of North Carolina's politics and policy, placed in the context of its own history as well as the politics and policies of other states. Topics discussed include the evolution of politics and political institutions; the roles of governors, the judicial branch, interest groups, and party systems; and the part played by economic development and environmental policy. Contributors also address how geography affects politics within the state, region, and nation. Designed with students and interested citizens in mind, this collection provides an excellent introduction to contemporary North Carolina politics and government. Contributors: Hunter Bacot, Elon University Christopher A. Cooper, Western Carolina University Thomas F. Eamon, East Carolina University Jack D. Fleer, Wake Forest University Dennis O. Grady, Appalachian State University Ferrel Guillory, University of North Carolina at Chapel Hill Sean Hildebrand, Western Carolina University Jonathan Kanipe, Town Manager, Catawba, North Carolina H. Gibbs Knotts, Western Carolina University Adam J. Newmark, Appalachian State University Charles Prysby, University of North Carolina at Greensboro Ruth Ann Strickland, Appalachian State University James H. Svara, Arizona State University Timothy Vercellotti, Rutgers University

Public Schools in Hard Times

The Great Depression and Recent Years
Author: David B. Tyack,Robert Lowe,Elisabeth Hansot
Publisher: Harvard University Press
ISBN: 9780674738003
Category: Education
Page: 267
View: 4755

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Discusses the impact of the Depression on the American public school system.

Hierarchy in International Relations


Author: David A. Lake
Publisher: Cornell University Press
ISBN: 0801447569
Category: Political Science
Page: 232
View: 6439

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International relations are generally understood as a realm of anarchy in which countries lack any superior authority and interact within a Hobbesian state of nature. In Hierarchy in International Relations, David A. Lake challenges this traditional view, demonstrating that states exercise authority over one another in international hierarchies that vary historically but are still pervasive today. Revisiting the concepts of authority and sovereignty, Lake offers a novel view of international relations in which states form social contracts that bind both dominant and subordinate members. The resulting hierarchies have significant effects on the foreign policies of states as well as patterns of international conflict and cooperation. Focusing largely on U.S.-led hierarchies in the contemporary world, Lake provides a compelling account of the origins, functions, and limits of political order in the modern international system. The book is a model of clarity in theory, research design, and the use of evidence. Motivated by concerns about the declining international legitimacy of the United States following the Iraq War, Hierarchy in International Relations offers a powerful analytic perspective that has important implications for understanding America's position in the world in the years ahead.

Politics of Indignation

Imperialism, Postcolonial Disruptions and Social Change.
Author: Peter Mayo
Publisher: John Hunt Publishing
ISBN: 1780995377
Category: Political Science
Page: 132
View: 7325

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Politics of Indignation is a challenging, accessible and exciting book. Not only does it provide a critical analysis of the neoliberal onslaught on public education in many countries including Cuba, Nicaragua and the Arab world, it also offers new insights into the dynamics of control, while demonstrating how and where resistance has succeeded.