In developing an anatomy of capitalism over the past five centuries, Wallerstein traces those elements that have constantly changed and evolved, while giving equal attention to features of historical capitalism that have necessarily remained constant.Particular attention is focused on the emergence and development of a unified world market, and the concomitant international division of labour. Wallerstein argues forcefully, against the current of much contemporary opinion, that capitalism has brought about an actual, not merely relative, immiseration in the countries of the Third World. The economic and social problems of underdeveloped countries will remain unresolved as long as they remain located within a framework of world capitalism.Historical Capitalism, with its continuation Capitalist Civilization, is a welcome and stimulating synthesis of one of the most challenging and influential assessments of capitalism as a world-historic mode of production.

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    Set up to procure Asian goods for British consumers, the Company’s business network spanned Persia, India, China, Indonesia and North America. In the late 1700s, its career took a dramatic turn as the Company lost ground as a trading firm, but founded an empire in India. Why did a merchant firm end up being an empire builder? Why did politics mesh so closely with the conduct of business in this time? This new account of the East India Company answers these questions by taking a fresh look at the world of Indian business. The story fits together many pieces of a vast jigsaw puzzle, and shows how trading in India changed the Company—and how the Company changed Indian business.

    Or do they? In the first intellectual history of neoliberal globalism, Quinn Slobodian follows a group of thinkers from the ashes of the Habsburg Empire to the creation of the World Trade Organization to show that neoliberalism emerged less to shrink government and abolish regulations than to redeploy them at a global level.Slobodian begins in Austria in the 1920s. Empires were dissolving and nationalism, socialism, and democratic self-determination threatened the stability of the global capitalist system. In response, Austrian intellectuals called for a new way of organizing the world. But they and their successors in academia and government, from such famous economists as Friedrich Hayek and Ludwig von Mises to influential but lesser-known figures such as Wilhelm Röpke and Michael Heilperin, did not propose a regime of laissez-faire. Rather they used states and global institutions--the League of Nations, the European Court of Justice, the World Trade Organization, and international investment law--to insulate the markets against sovereign states, political change, and turbulent democratic demands for greater equality and social justice.Far from discarding the regulatory state, neoliberals wanted to harness it to their grand project of protecting capitalism on a global scale. It was a project, Slobodian shows, that changed the world, but that was also undermined time and again by the inequality, relentless change, and social injustice that accompanied it.

    It is not true that there are some good colonists and others who are wicked. There are colonists and that is it'Jean-Paul Sartre

    Martin Wolf explains how globalization works, critiques the charges against it, argues that the biggest obstacle to global economic progress has been the failure not of the market but of governments, and offers a realistic scenario for economic internationalism in the post-9/11 age. For this paperback edition, Wolf provides a new introduction to update the debate.“Splendid. . . . The definitive treatment of the subject, and an absorbing read.”—Economist“Accessible and clearly argued. . . . A wealth of material on every page.”—Bruce Bartlett, Wall Street Journal"[Written by] one of the world’s most respected economic journalists, . . .this elegant and passionate defense of trade liberalization is essential reading."—Arvind Panagariya, Foreign Affairs"A powerful book."—Sebastian Mallaby, Washington Post“No one has summarised more coherently the recent, voluminous research. . . . Elegantly and persuasively, Wolf marshals the facts.”—Niall Ferguson, Sunday Telegraph“A necessary and compelling read for all who want to understand the logic of unfolding events.”—Robert Skidelsky, New Statesman

    During both world wars he was an adviser to the British treasury, and his theory of government stimulation of the economy through deficit spending influenced Franklin D. Roosevelt's "New Deal" administration. The mass unemployment caused by the Great Depression inspired his most famous work, General Theory of Employment, Interest and Money (1935-36).Keynes first gained widespread prominence immediately following World War I, when he attended the Versailles peace conference as an economic adviser to British Prime Minister David Lloyd George. Disgusted with the harshly punitive and unrealistic provisions of the Versailles Treaty, as well as the political chicanery and general incompetence of the chief participants, he published The Economic Consequences of the Peace in 1919. This book gained a good deal of notoriety because of its withering portraits of both French premier Georges Clemenceau and U.S. President Woodrow Wilson. Keynes described Clemenceau as motivated only by shortsighted nationalistic goals and vindictiveness, which aimed at crippling Germany for generations no matter what the consequences to the rest of Europe. He found fault with Wilson for his ivory tower idealism, lack of diplomatic savvy, and unfamiliarity with the political realities of Europe. This ineffectual combination ultimately dashed his best hopes for a League of Nations and a just resolution to the war in Europe. In a point-by-point analysis Keynes makes clear the ruinous consequences of the treaty to all of Europe and proposes substantial modifications. Unfortunately, few appreciated Keynes’s prescience, and he saw his worst fears realized in the rise of Hitler and the devastation of World War II.In The End of Laissez-Faire (1926) he presents a brief historical review of laissez-faire economic policy. Though he agrees in principle that a marketplace of free individuals pursuing their own self-interest without government interference has a better chance of improving society’s economic situation than socialist alternatives, he suggests that government can play a constructive role in protecting individuals from the worst harms of capitalism’s cycles, especially as concerns unemployment. Other useful government functions are the dissemination of information relating to business conditions, encouraging savings and investment along "nationally productive channels," and forming a national policy about the size of population.Keynes’s brilliant mind and lucid writing are evident on every page. Both of these works are still well worth reading for his many stimulating ideas and profound knowledge of economics.

    In The Chinese Economy, Barry Naughton provides both an engaging, broadly focused introduction to China's economy since 1949 and original insights based on his own extensive research. The book will be an essential resource for students, teachers, scholars, business people, and policymakers. It is suitable for classroom use for undergraduate or graduate courses.After presenting background material on the pre-1949 economy and the industrialization, reform, and market transition that have taken place since, the book examines different aspects of the modern Chinese economy. It analyzes patterns of growth and development, including population growth and the one-child family policy; the rural economy, including agriculture and rural industrialization; industrial and technological development in urban areas; international trade and foreign investment; macroeconomic trends and cycles and the financial system; and the largely unaddressed problems of environmental quality and the sustainability of growth.The text is notable also for placing China's economy in interesting comparative contexts, discussing it in relation to other transitional or developing economies and to such advanced industrial countries as the United States and Japan. It provides both a broad historical and macro perspective as well as a focused examination of the actual workings of China's complex and dynamic economic development. Interest in the Chinese economy will only grow as China becomes an increasingly important player on the world's stage. This book will be the standard reference for understanding and teaching about the next economic superpower.

    Stiglitz here joins with fellow economist Andrew Charlton to offer a challenging and controversial argument about how globalization can actually help Third World countries to develop and prosper.In Fair Trade For All, Stiglitz and Charlton address one of the key issues facing world leaders today--how can the poorer countries of the world be helped to help themselves through freer, fairer trade? To answer this question, the authors put forward a radical and realistic new model for managing trading relationships between the richest and the poorest countries. Their approach is designed to open up markets in the interests of all nations and not just the most powerful economies, to ensure that trade promotes development, and to minimize the costs of adjustments. The book illuminates the reforms and principles upon which a successful settlement must be based.Vividly written, highly topical, and packed with insightful analyses, Fair Trade For All offers a radical new solution to the problems of world trade. It is a must read for anyone interested in globalization and development in the Third World.

    . . . In setting out a defence of the best in economics, Rodrik has also provided a goal for the discipline as a whole.” —Martin Sandbu, Financial Times In the wake of the financial crisis and the Great Recession, economics seems anything but a science. In this sharp, masterfully argued book, Dani Rodrik, a leading critic from within, takes a close look at economics to examine when it falls short and when it works, to give a surprisingly upbeat account of the discipline. Drawing on the history of the field and his deep experience as a practitioner, Rodrik argues that economics can be a powerful tool that improves the world—but only when economists abandon universal theories and focus on getting the context right. Economics Rules argues that the discipline's much-derided mathematical models are its true strength. Models are the tools that make economics a science. Too often, however, economists mistake a model for the model that applies everywhere and at all times. In six chapters that trace his discipline from Adam Smith to present-day work on globalization, Rodrik shows how diverse situations call for different models. Each model tells a partial story about how the world works. These stories offer wide-ranging, and sometimes contradictory, lessons—just as children’s fables offer diverse morals. Whether the question concerns the rise of global inequality, the consequences of free trade, or the value of deficit spending, Rodrik explains how using the right models can deliver valuable new insights about social reality and public policy. Beyond the science, economics requires the craft to apply suitable models to the context. The 2008 collapse of Lehman Brothers challenged many economists' deepest assumptions about free markets. Rodrik reveals that economists' model toolkit is much richer than these free-market models. With pragmatic model selection, economists can develop successful antipoverty programs in Mexico, growth strategies in Africa, and intelligent remedies for domestic inequality. At once a forceful critique and defense of the discipline, Economics Rules charts a path toward a more humble but more effective science.

    In this reading of history, China and Japan, the kingdoms of India, Muslim caliphates, the Byzantine Empire and European maritime republics alike enjoyed no absolute dominance over their neighbours and commercial partners - and the egalitarian international trading network that they built endured until European advances in weaponry and ship types introduced radical instability to the system.Abu-Lughod's portrait of a more balanced world is a masterpiece of synthesis driven by one highly creative idea: her world system of interlocking spheres of influence quite literally connected masses of evidence together in new ways. A triumph of fine critical thinking.

    Hamilton argues that an obsession with economic growth lies at the heart of our current political, social and environmental ills – and offers a thought-provoking alternative.‘Right on target, and badly needed’ Noam Chomsky‘Every now and then a book that is perfect in timing and tone hits my desk. Growth Fetish is that book. It is powerful and potentially transformative.’ Rev. Tim Costello‘This book reveals the undelivered reality of economic growth and the hollow mantras of the Third Way. Growth Fetish provides a much needed road map to a new politics in a post-growth world.’ Senator Natasha Stott DespojaFor decades our political leaders and opinion makers have touted higher incomes as the way to a better future. Economic growth means better lives for us all.But after many years of sustained economic growth and increased personal incomes we must confront an awful fact: we aren’t any happier. This is the great contradiction of modern politics.In this provocative new book, Clive Hamilton argues that, far from being the answer to our problems, growth fetishism and the marketing society lie at the heart of our social ills. They have corrupted our social priorities and political structures, and have created a profound sense of alienation among young and old.Growth Fetish is the first serious attempt at a politics of change for rich countries dominated by the sicknesses of affluence, where the real yearning is not for more money but for authentic identity, and where the future lies in a new relationship with the natural environment.

    Although MITI was not the only important agent affecting the economy, nor was the state as a whole always predominant, I do not want to be overly modest about the importance of this subject. The particular speed, form, and consequences of Japanese economic growth are not intelligible without reference to the contributions of MITI. Collaboration between the state and big business has long been acknowledged as the defining characteristic of the Japanese economic system, but for too long the state's role in this collaboration has been either condemned as overweening or dismissed as merely supportive, without anyone's ever analyzing the matter.The history of MITI is central to the economic and political history of modern Japan. Equally important, however, the methods and achievements of the Japanese economic bureaucracy are central to the continuing debate between advocates of the communist-type command economies and advocates of the Western-type mixed market economies. The fully bureaucratized command economies misallocate resources and stifle initiative; in order to function at all, they must lock up their populations behind iron curtains or other more or less impermeable barriers. The mixed market economies struggle to find ways to intrude politically determined priorities into their market systems without catching a bad case of the "English disease" or being frustrated by the American-type legal sprawl. The Japanese, of course, do not have all the answers. But given the fact that virtually all solutions to any of the critical problems of the late twentieth century—energy supply, environmental protection, technological innovation, and so forth—involve an expansion of official bureaucracy, the particular Japanese priorities and procedures are instructive. At the very least they should forewarn a foreign observer that the Japanese achievements were not won without a price being paid.

    On the heels of the most recent economic crisis, America is headed toward another: high inflation and dollar devaluation. Charles Goyette reveals the governmental errors that led to the current economic crisis and the bumpy road ahead. The signs are clear: Federal debt is compounding while growth has stalled, and America's foreign creditors are questioning the dollar's reserve currency status. Meanwhile, the "hidden" federal debt, much larger than the official debt, makes things even worse. So what can you do to safeguard your assets when the dollar heads south? This book is the essential guide for protecting yourself--and even profiting--in this time of financial turbulence. In clear detail, Goyette explains the alternative investments--from gold and silver to oil and agriculture-- that will remain strong in the face of mounting inflation. The Dollar Meltdown gives you the tools to maintain the value of your savings and captilize on the coming opportunities. Don't get left holding the bag after decades of government irresponsibility. The Dollar Meltdown shows you how to take the safety of your finances into your own hands.

    Porter’s groundbreaking study of international competitiveness has shaped national policy in countries around the world. It has also transformed thinking and action in states, cities, companies, and even entire regions such as Central America.Based on research in ten leading trading nations, The Competitive Advantage of Nations offers the first theory of competitiveness based on the causes of the productivity with which companies compete. Porter shows how traditional comparative advantages such as natural resources and pools of labor have been superseded as sources of prosperity, and how broad macroeconomic accounts of competitiveness are insufficient. The book introduces Porter’s “diamond,” a whole new way to understand the competitive position of a nation (or other locations) in global competition that is now an integral part of international business thinking. Porter's concept of “clusters,” or groups of interconnected firms, suppliers, related industries, and institutions that arise in particular locations, has become a new way for companies and governments to think about economies, assess the competitive advantage of locations, and set public policy. Even before publication of the book, Porter’s theory had guided national reassessments in New Zealand and elsewhere. His ideas and personal involvement have shaped strategy in countries as diverse as the Netherlands, Portugal, Taiwan, Costa Rica, and India, and regions such as Massachusetts, California, and the Basque country. Hundreds of cluster initiatives have flourished throughout the world. In an era of intensifying global competition, this pathbreaking book on the new wealth of nations has become the standard by which all future work must be measured.