Financial Statecraft

Financial Statecraft

Author: Benn Steil

Publisher: Yale University Press

Published: 2008-10-01

Total Pages: 220

ISBN-13: 0300128266

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divAs trade flows expanded and trade agreements proliferated after World War II, governments—most notably the United States—came increasingly to use their power over imports and exports to influence the behavior of other countries. But trade is not the only way in which nations interact economically. Over the past two decades, another form of economic exchange has risen to a level of vastly greater significance and political concern: the purchase and sale of financial assets across borders. Nearly $2 trillion worth of currency now moves cross-border every day, roughly 90 percent of which is accounted for by financial flows unrelated to trade in goods and services—a stunning inversion of the figures in 1970. The time is ripe to ask fundamental questions about what Benn Steil and Robert Litan have coined as “financial statecraft,” or those aspects of economic statecraft directed at influencing international capital flows. How precisely has the American government practiced financial statecraft? How effective have these efforts been? And how can they be made more effective? The authors provide penetrating and incisive answers in this timely and stimulating book. /DIV


Financialising City Statecraft and Infrastructure

Financialising City Statecraft and Infrastructure

Author: Andy Pike

Publisher: Edward Elgar Publishing

Published: 2019

Total Pages: 294

ISBN-13: 1788118952

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Financialising City Statecraft and Infrastructure addresses the struggles of national and local states to fund, finance and govern urban infrastructure. It develops fresh thinking on financialisation and city statecraft to explain the socially and spatially uneven mixing of managerial, entrepreneurial and financialised city governance in austerity and limited decentralisation across England. As urban infrastructure fixes for the London global city-region risk undermining national ‘rebalancing’ efforts in the UK, city statecraft in the rest of the country is having uneasily to combine speculation, risk-taking and prospective venturing with co-ordination, planning and regulation.


The Financial Statecraft of Emerging Powers

The Financial Statecraft of Emerging Powers

Author: L. Armijo

Publisher: Springer

Published: 2014-08-12

Total Pages: 264

ISBN-13: 1137429380

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Financial statecraft' goes beyond sanctions against rogue states. The aims of financial statecraft may be defensive or offensive, its targets bilateral or systemic, and its instruments financial or monetary. Regions and countries profiled include Argentina, Venezuela, Brazil, India, Southeast Asia, China, and Japan.


Economic Statecraft

Economic Statecraft

Author: Cécile Fabre

Publisher:

Published: 2018

Total Pages:

ISBN-13: 9780674988866

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Leaders have used economic power as a tool of foreign policy since at least Pericles, whose trade sanctions against Megara helped to spark the Peloponnesian War. But as Cécile Fabre notes, philosophers have spent relatively little time thinking about the relevant ethics, especially compared with the time they have spent thinking about the ethics of war. Yet the moral questions raised by the use of economic statecraft are significant and complex. Fabre deploys a cosmopolitan theory of justice and the theory of justified harm to answer these questions, and concludes that political actors are morally entitled to resort to economic sanctions and conditional aid, but only as a means to protect human rights, and so long as the harms which they thereby inflict are not out of proportion to the goods they bring about. Moreover, they are morally entitled to resort to conditional lending and conditional debt forgiveness, not just with a view to protect human rights, but also, under certain conditions, to pursue other non-wrongful political goals.--


War by Other Means

War by Other Means

Author: Robert D. Blackwill

Publisher: Harvard University Press

Published: 2016-04-12

Total Pages: 377

ISBN-13: 0674545982

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A Foreign Affairs Best Book of 2016 Today, nations increasingly carry out geopolitical combat through economic means. Policies governing everything from trade and investment to energy and exchange rates are wielded as tools to win diplomatic allies, punish adversaries, and coerce those in between. Not so in the United States, however. America still too often reaches for the gun over the purse to advance its interests abroad. The result is a playing field sharply tilting against the United States. “Geoeconomics, the use of economic instruments to advance foreign policy goals, has long been a staple of great-power politics. In this impressive policy manifesto, Blackwill and Harris argue that in recent decades, the United States has tended to neglect this form of statecraft, while China, Russia, and other illiberal states have increasingly employed it to Washington’s disadvantage.” —G. John Ikenberry, Foreign Affairs “A readable and lucid primer...The book defines the extensive topic and opens readers’ eyes to its prevalence throughout history...[Presidential] candidates who care more about protecting American interests would be wise to heed the advice of War by Other Means and take our geoeconomic toolkit more seriously. —Jordan Schneider, Weekly Standard


Economic Statecraft

Economic Statecraft

Author: David A. Baldwin

Publisher: Princeton University Press

Published: 2020-09-22

Total Pages: 508

ISBN-13: 0691204438

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Introduction -- Techniques of statecraft -- What is economic statecraft? -- Thinking about economic statecraft -- Economic statecraft in international thought -- Bargaining with economic statecraft -- National power and economic statecraft -- "Classic cases" reconsidered -- Foreign trade -- Foreign aid -- The legality and morality of economic statecraft -- Conclusion -- Afterword : economic statecraft : continuity and change / Ethan B. Kapstein.


American Bonds

American Bonds

Author: Sarah L. Quinn

Publisher: Princeton University Press

Published: 2019-07-16

Total Pages: 310

ISBN-13: 0691185611

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How the American government has long used financial credit programs to create economic opportunities Federal housing finance policy and mortgage-backed securities have gained widespread attention in recent years because of the 2008 financial crisis, but issues of government credit have been part of American life since the nation’s founding. From the 1780s, when a watershed national land credit policy was established, to the postwar foundations of our current housing finance system, American Bonds examines the evolution of securitization and federal credit programs. Sarah Quinn shows that since the Westward expansion, the U.S. government has used financial markets to manage America’s complex social divides, and politicians and officials across the political spectrum have turned to land sales, home ownership, and credit to provide economic opportunity without the appearance of market intervention or direct wealth redistribution. Highly technical systems, securitization, and credit programs have been fundamental to how Americans determined what they could and should owe one another. Over time, government officials embraced credit as a political tool that allowed them to navigate an increasingly complex and fractured political system, affirming the government’s role as a consequential and creative market participant. Neither intermittent nor marginal, credit programs supported the growth of powerful industries, from railroads and farms to housing and finance; have been used for disaster relief, foreign policy, and military efforts; and were promoters of amortized mortgages, lending abroad, venture capital investment, and mortgage securitization. Illuminating America’s market-heavy social policies, American Bonds illustrates how political institutions became involved in the nation’s lending practices.


American Empire and the Political Economy of Global Finance

American Empire and the Political Economy of Global Finance

Author: L. Panitch

Publisher: Springer

Published: 2008-07-24

Total Pages: 342

ISBN-13: 0230227678

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In a lively critique of how international and comparative political economy misjudge the relationship between global markets and states, this book demonstrates the central place of the American state in today's world of globalized finance. The contributors set aside traditional emphases on military intervention, looking instead to economics.


Financialization and Local Statecraft

Financialization and Local Statecraft

Author: Andy Pike

Publisher: Oxford University Press

Published: 2023-08-24

Total Pages: 289

ISBN-13: 0192856669

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The UK government reduced expenditure and introduced local financial self-sufficiency in pursuing austerity after the 2008 crash, forcing local governments in England to find savings and new income sources to close funding gaps. As new financial strategies and practices were devised, 'councillors at the casino' were characterized as taking risks with local taxpayers' money and jeopardizing local public service provision. Looking beyond the high-profile cases in an internationally resonant local public sector reform laboratory, Financialization and Local Statecraft examines the wider landscape across local government in England since 2010, which comprises a local tier of over 300 governments managing £100bn of revenue expenditure, employing almost 1.5 million people, and providing services to over 56 million people across the country. Andy Pike draws on a new local statecraft theory to explain how local statecrafters act in realms including financial strategies and risks, external advice, borrowing and debt management, and in and out-of-area activities. The framework reveals and accounts for their vanguard, intermediate, and long tail approaches with differing engagements with financialization. While limited within the overall landscape, such relations and UK government policy are rewiring and rescaling local statecraft and relocating risks and uncertainties onto local government and the wider local state. UK government policy and the extension and intensification of financialization expose the local state's financial sustainability and resilience in the longer term. They raise fundamental questions about what local government is for and how it should be funded. The erosion of local accountability of local statecraft in financialization risks creating a de-politicized and post-democratic local governance.


Virtue Politics

Virtue Politics

Author: James Hankins

Publisher: Harvard University Press

Published: 2019-12-17

Total Pages: 769

ISBN-13: 0674242521

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Winner of the Helen and Howard Marraro Prize A Times Literary Supplement Book of the Year “Perhaps the greatest study ever written of Renaissance political thought.” —Jeffrey Collins, Times Literary Supplement “Magisterial...Hankins shows that the humanists’ obsession with character explains their surprising indifference to particular forms of government. If rulers lacked authentic virtue, they believed, it did not matter what institutions framed their power.” —Wall Street Journal “Puts the politics back into humanism in an extraordinarily deep and far-reaching way...For generations to come, all who write about the political thought of Italian humanism will have to refer to it; its influence will be...nothing less than transformative.” —Noel Malcolm, American Affairs “[A] masterpiece...It is only Hankins’s tireless exploration of forgotten documents...and extraordinary endeavors of editing, translation, and exposition that allow us to reconstruct—almost for the first time in 550 years—[the humanists’] three compelling arguments for why a strong moral character and habits of truth are vital for governing well. Yet they are as relevant to contemporary democracy in Britain, and in the United States, as to Machiavelli.” —Rory Stewart, Times Literary Supplement “The lessons for today are clear and profound.” —Robert D. Kaplan Convulsed by a civilizational crisis, the great thinkers of the Renaissance set out to reconceive the nature of society. Everywhere they saw problems. Corrupt and reckless tyrants sowing discord and ruling through fear; elites who prized wealth and status over the common good; religious leaders preoccupied with self-advancement while feuding armies waged endless wars. Their solution was at once simple and radical. “Men, not walls, make a city,” as Thucydides so memorably said. They would rebuild the fabric of society by transforming the moral character of its citizens. Soulcraft, they believed, was a precondition of successful statecraft. A landmark reappraisal of Renaissance political thought, Virtue Politics challenges the traditional narrative that looks to the Renaissance as the seedbed of modern republicanism and sees Machiavelli as its exemplary thinker. James Hankins reveals that what most concerned the humanists was not reforming institutions so much as shaping citizens. If character mattered more than laws, it would have to be nurtured through a new program of education they called the studia humanitatis: the precursor to our embattled humanities.