Rational self-interest is often seen as being at the heart of liberal economic theory. In The Power at the End of the Economy Brian Massumi provides an alternative explanation, arguing that neoliberalism is grounded in complex interactions between the rational and the emotional. Offering a new theory of political economy that refuses the liberal prioritization of individual choice, Massumi emphasizes the means through which an individual’s affective tendencies resonate with those of others on infra-individual and transindividual levels. This nonconscious dimension of social and political events plays out in ways that defy the traditional equation between affect and the irrational. Massumi uses the Arab Spring and the Occupy Movement as examples to show how transformative action that exceeds self-interest takes place. Drawing from David Hume, Michel Foucault, Gilles Deleuze, Niklas Luhmann and the field of nonconsciousness studies, Massumi urges a rethinking of the relationship between rational choice and affect, arguing for a reassessment of the role of sympathy in political and economic affairs.
The decades after World War II were a golden age across much of the world. It was a time of economic miracles, an era when steady jobs were easy to find and families could see their living standards improving year after year. And then, around 1973, the good times vanished. The world economy slumped badly, then settled into the slow, erratic growth that had been the norm before the war. The result was an era of anxiety, uncertainty, and political extremism that we are still grappling with today. In An Extraordinary Time, acclaimed economic historian Marc Levinson describes how the end of the postwar boom reverberated throughout the global economy, bringing energy shortages, financial crises, soaring unemployment, and a gnawing sense of insecurity. Politicians, suddenly unable to deliver the prosperity of years past, railed haplessly against currency speculators, oil sheikhs, and other forces they could not control. From Sweden to Southern California, citizens grew suspicious of their newly ineffective governments and rebelled against the high taxes needed to support social welfare programs enacted when coffers were flush. Almost everywhere, the pendulum swung to the right, bringing politicians like Margaret Thatcher and Ronald Reagan to power. But their promise that deregulation, privatization, lower tax rates, and smaller government would restore economic security and robust growth proved unfounded. Although the guiding hand of the state could no longer deliver the steady economic performance the public had come to expect, free-market policies were equally unable to do so. The golden age would not come back again. A sweeping reappraisal of the last sixty years of world history, An Extraordinary Time forces us to come to terms with how little control we actually have over the economy.
Paul Kennedy's classic naval history, now updated with a new introduction by the author This acclaimed book traces Britain's rise and fall as a sea power from the Tudors to the present day. Challenging the traditional view that the British are natural 'sons of the waves', he suggests instead that the country's fortunes as a significant maritime force have always been bound up with its economic growth. In doing so, he contributes significantly to the centuries-long debate between 'continental' and 'maritime' schools of strategy over Britain's policy in times of war. Setting British naval history within a framework of national, international, economic, political and strategic considerations, he offers a fresh approach to one of the central questions in British history. A new introduction extends his analysis into the twenty-first century and reflects on current American and Chinese ambitions for naval mastery. 'Excellent and stimulating' Correlli Barnett 'The first scholar to have set the sweep of British Naval history against the background of economic history' Michael Howard, Sunday Times 'By far the best study that has ever been done on the subject ... a sparkling and apt quotation on practically every page' Daniel A. Baugh, International History Review 'The best single-volume study of Britain and her naval past now available to us' Jon Sumida, Journal of Modern History
This text offers a rethinking of the field of international political economy in an era of growing but uneven globalization. Even as global integration advances, states play central roles as partners with the largest of global firms, as the catalysts of competitiveness and economic growth, as the creators of global institutions, and in promoting and responding to global interdependence. Indeed, the struggle for power and wealth within and among states underscores the primacy of politics in understanding current realities. At the same time, new issues and actors complicate the global agenda as it expands to address the environment, global health, and food security. By offering a clear explanation of basic concepts, contextualizing the presentation of theoretical debates, and placing current events in historical context, International Political Economy ensures students a deep understanding of how the global economy works and the ways in which globalization affects their lives and those of people around the world. Key Content and Features Engages debates over the reach and significance of globalization. Examines the sources and consequences of global financial instability. Explores the origins and consequences of global inequality. Compares various strategies of development and state roles in competitiveness. Discusses the role of key international economic institutions. Considers the impact of the rise of China on the global economy and the potential for war and peace. Illustrates collective efforts to fight hunger, disease, and environmental threats. Includes numerous graphs and illustrations throughout and end of chapter discussion questions. Links key concepts for each chapter to a glossary at the end of the book. Provides a list of acronyms at the outset and annotated further readings at the end of each chapter. Offers additional resources on a web site related to the text, including a list of links to IPE-related web pages.
John Maynard Keynes, then a rising young economist, participated in the Paris Peace Conference in 1919 as chief representative of the British Treasury and advisor to Prime Minister David Lloyd George. He resigned after desperately trying and failing to reduce the huge demands for reparations being made on Germany. The Economic Consequences of the Peace is Keynes' brilliant and prophetic analysis of the effects that the peace treaty would have both on Germany and, even more fatefully, the world.
“A stunning piece of work—perhaps the best single book ever produced about our energy economy and its environmental implications” (Bill McHibbon, The New York Review of Books). Petroleum is so deeply entrenched in our economy, politics, and daily lives that even modest efforts to phase it out are fought tooth and nail. Companies and governments depend on oil revenues. Developing nations see oil as their only means to industrial success. And the Western middle class refuses to modify its energy-dependent lifestyle. But even by conservative estimates, we will have burned through most of the world’s accessible oil within mere decades. What will we use in its place to maintain a global economy and political system that are entirely reliant on cheap, readily available energy? In The End of Oil, journalist Paul Roberts talks to both oil optimists and pessimists around the world. He delves deep into the economics and politics, considers the promises and pitfalls of oil alternatives, and shows that—even though the world energy system has begun its epochal transition—we need to take a more proactive stance to avoid catastrophic disruption and dislocation.
China's extraordinarily rapid economic growth since 1978, driven by market-oriented reforms, has set world records and continued unabated, despite predictions of an inevitable slowdown. In The State Strikes Back: The End of Economic Reform in China?, renowned China scholar Nicholas R. Lardy argues that China's future growth prospects could be equally bright but are shadowed by the specter of resurgent state dominance, which has begun to diminish the vital role of the market and private firms in China's economy. Lardy's book arrives in timely fashion as a sequel to his pathbreaking Markets over Mao: The Rise of Private Business in China, published by PIIE in 2014. This book mobilizes new data to trace how President Xi Jinping has consistently championed state-owned or controlled enterprises, encouraging local political leaders and financial institutions to prop up ailing, underperforming companies that are a drag on China's potential. As with his previous book, Lardy's perspective departs from conventional wisdom, especially in its contention that China could achieve a high growth rate for the next two decades—if it reverses course and returns to the path of market-oriented reforms.
International trade has shaped the modern world, yet until now no single book has been available for both economists and general readers that traces the history of the international economy from its earliest beginnings to the present day. Power and Plenty fills this gap, providing the first full account of world trade and development over the course of the last millennium. Ronald Findlay and Kevin O'Rourke examine the successive waves of globalization and "deglobalization" that have occurred during the past thousand years, looking closely at the technological and political causes behind these long-term trends. They show how the expansion and contraction of the world economy has been directly tied to the two-way interplay of trade and geopolitics, and how war and peace have been critical determinants of international trade over the very long run. The story they tell is sweeping in scope, one that links the emergence of the Western economies with economic and political developments throughout Eurasia centuries ago. Drawing extensively upon empirical evidence and informing their systematic analysis with insights from contemporary economic theory, Findlay and O'Rourke demonstrate the close interrelationships of trade and warfare, the mutual interdependence of the world's different regions, and the crucial role these factors have played in explaining modern economic growth. Power and Plenty is a must-read for anyone seeking to understand the origins of today's international economy, the forces that continue to shape it, and the economic and political challenges confronting policymakers in the twenty-first century.
#1 New York Times Bestseller “Significant...The book is both instructive and surprisingly moving.” —The New York Times Ray Dalio, one of the world’s most successful investors and entrepreneurs, shares the unconventional principles that he’s developed, refined, and used over the past forty years to create unique results in both life and business—and which any person or organization can adopt to help achieve their goals. In 1975, Ray Dalio founded an investment firm, Bridgewater Associates, out of his two-bedroom apartment in New York City. Forty years later, Bridgewater has made more money for its clients than any other hedge fund in history and grown into the fifth most important private company in the United States, according to Fortune magazine. Dalio himself has been named to Time magazine’s list of the 100 most influential people in the world. Along the way, Dalio discovered a set of unique principles that have led to Bridgewater’s exceptionally effective culture, which he describes as “an idea meritocracy that strives to achieve meaningful work and meaningful relationships through radical transparency.” It is these principles, and not anything special about Dalio—who grew up an ordinary kid in a middle-class Long Island neighborhood—that he believes are the reason behind his success. In Principles, Dalio shares what he’s learned over the course of his remarkable career. He argues that life, management, economics, and investing can all be systemized into rules and understood like machines. The book’s hundreds of practical lessons, which are built around his cornerstones of “radical truth” and “radical transparency,” include Dalio laying out the most effective ways for individuals and organizations to make decisions, approach challenges, and build strong teams. He also describes the innovative tools the firm uses to bring an idea meritocracy to life, such as creating “baseball cards” for all employees that distill their strengths and weaknesses, and employing computerized decision-making systems to make believability-weighted decisions. While the book brims with novel ideas for organizations and institutions, Principles also offers a clear, straightforward approach to decision-making that Dalio believes anyone can apply, no matter what they’re seeking to achieve. Here, from a man who has been called both “the Steve Jobs of investing” and “the philosopher king of the financial universe” (CIO magazine), is a rare opportunity to gain proven advice unlike anything you’ll find in the conventional business press.
