(1)How can property rights be protected and contracts be enforced in countries where the rule of law is ineffective or absent? How can firms from advanced market economies do business in such circumstances? In "Lawlessness and Economics", Avinash Dixit examines the theory of private institutions that transcend or supplement weak economic governance from the state. In much of the world and through much of history, private mechanisms - such as long-term relationships, arbitration, social networks to disseminate information and norms to impose sanctions, and for-profit enforcement services - have grown up in place of formal, state-governed institutions. Even in countries with strong legal systems, many of these mechanisms continue under the shadow of the law. Numerous case studies and empirical investigations have demonstrated the variety, importance, and merits and drawbacks of such institutions. This book builds on these studies and constructs a toolkit of theoretical models to analyze them. The models shed new conceptual light on the different modes of governance, and deepen our understanding of the interaction of the alternative institutions with each other and with the government's law. For example, one model explains the limit on the size of social networks and illuminates problems in the transition to more formal legal systems as economies grow beyond this limit. Other models explain why for-profit enforcement is inefficient. The models also help us understand why state law dovetails with some non-state institutions and collides with others. This can help less-developed countries and transition economies devise better processes for the introduction or reform of their formal legal systems.
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It is impossible to think of a better introduction to the essentials of energy in the 21st Century ... above all, the value of The Quest is in the clarity and fair-mindedness of Yergin's thought ... the definitive guide to how we got here (Ed Crooks Financial Times )
Required reading ...The Quest is a masterly piece of work and, as a comprehensive guide to the world's great energy needs and dilemmas, it will be hard to beat (The Economist )
If you were in any doubt about what makes the world go round, Daniel Yergin can enlighten you ... a comprehensive picture of the nexus between power, politics and oil (Danny Fortson Sunday Times )
This is the fourth volume in the highly acclaimed Global Transformations series. It follows in the footsteps of Global Transformations, The Global Transformations Reader and Governing Globalization. All these volumes have been widely adopted in courses on globalization and global governance across the world, and Globalization Theory will find a place alongside these texts. This book focuses on elucidating leading theoretical approaches to understanding and explaining globalization, in both its current form and potential future shapes. It is divided into two parts: the first examines competing explanatory theories of globalization in its contemporary form, and the second looks at competing prescriptions for the future of globalization. The book's contributors are world-renowned experts in their field, including : Chris Brown, Alex Callinicos ,Michael Doyle, David Held, G. John Ikenberry, Andrew Kuper, Anthony McGrew, Layna Mosley, Thomas Pogge, Thomas Risse, Saskia Sassen and John Tomlinson. This book is designed for courses on globalization and global governance at both the graduate and undergraduate levels. It will be of interest to students in politics, international relations, social geography, and sociology.
The rapid emergence of China and India as prime locations for low-cost manufacturing has led some analysts to conclude that manufacturers in the "old economies" - the U.S., U.K., Germany, and Japan - are being edged out of a profitable future. But if countries that have historically been at the forefront of events in manufacturing can adapt adroitly, opportunities are by no means over, says the author of this timely book. Peter Marsh explores 250 years in the history of manufacturing, then examines the characteristics of the industrial revolution that is taking place right now. The driving forces that influence what types of goods are made and who makes them are little understood, Marsh observes. He discusses the key changes in what is happening in manufacturing today, including advances in technology, a greater focus on tailor-made goods aimed at specific individuals and industry users, participation of many more countries in world manufacturing, and the growing importance of sustainable forms of production. With broad historical sweep and dozens of engaging examples, Marsh explains these changes and their import both for consumers making purchase choices and for manufacturers assessing how to participate successfully in the new industrial era.
Over the past few decades, globalization and Googlization have kicked off the first phase of an innovation revolution more profound and more powerful than any economic force since the arrival of Europeans on North American shores half a millennium ago. These developments have brought us such advances as the Web, social networking, 24/7 connectivity, and global markets. But the benefits of all this progress have not been shared fairly among all. It is true that the elites of Mumbai are closer today to the elites of Manhattan than they were two decades ago, but what about Kansas? The hard-working salarymen of the developed world are not getting wealthier, but the economic elites who have mastered the new rules of global innovation are. Even as rural women in Africa and Asia have seen their lives transformed by mobile phones and the Internet, the middle classes and blue-collar workers in prosperous countries everywhere have been squeezed by the new global realities. And as the first phase of the innovation revolution gives way to a much greater transformation, America and other rich societies must find a path to inclusive growth or else risk being left behind by history. All this leads to the central political and economic question of our age: How can the extraordinary benefits of the innovation revolution be shared more equitably among all of society? In "Need, Speed, and Greed", global correspondent for the "Economist" Vijay V. Vaitheeswaran answers that question, offering the essential insider's guide to this new world of innovation. Drawing on the best of the academic and field work in this emerging area, "Need, Speed, and Greed" inspires and empowers readers to improve their lives, their work, and perhaps even the world.
As Morgan Stanley's chief Asia specialist, getting Asia right is Stephen Roach's personal obsession, and this in-depth compilation represents more than 70 of Roach's key research efforts not just on Asia, but also on how the region fits into the broad context of increasingly globalized financial markets. The book argues that the "Asia factor" is not a static concept, but rather one that is constantly changing and evolving. Broken down into five parts-Asia's critical role in globalization; the coming rebalancing of the Chinese economy; a new pan-regional framework for integration and competition; and a frank discussion of the biggest risk to this remarkable transformation-this book will help readers understand and profit from the world's most dynamic region.
