This text surveys major interests and institutions and examines how state and non-state actors pursue wealth and power. Emphasizing fundamental economic concepts as well as the interplay between domestic and international politics, International Political Economy not only explains how the global economy works; it also encourages students to think critically about how economic policy is made in the context of globalization.

    Symptoms of decline are all around us today, it seems: slowing growth, crushing debts, aging populations, anti-social behaviour. But what exactly is amiss with Western civilization? The answer, Niall Ferguson argues, is that our institutions - the intricate frameworks within which a society can flourish or fail - are degenerating. Representative government, the free market, the rule of law and civil society: these were once the four pillars of West European and North American societies. It was these institutions, rather than any geographical or climatic advantages, that set the West on the path to global dominance after around 1500. In our time, however, these institutions have deteriorated in disturbing ways. Our democracies have broken the contract between the generations by heaping IOUs on our children and grandchildren. Our markets are increasingly distorted by over-complex regulations that are in fact the disease of which they purport to be the cure. The rule of law has metamorphosed into the rule of lawyers. And civil society has degenerated into uncivil society, where we lazily expect all our problems to be solved by the state.The Great Degeneration is a powerful - and in places polemical - indictment of an era of negligence and complacency. While the Arab world struggles to adopt democracy, and while China struggles to move from economic liberalization to the rule of law, Europeans and Americans alike are frittering away the institutional inheritance of centuries. To arrest the degeneration of the West's once dominant civilization, Ferguson warns, will take heroic leadership and radical reform. This book is based on Niall Ferguson's 2012 BBC Reith Lectures, which were broadcast under the title 'The Rule of Law and Its Enemies'.

    This is economist Bryan Caplan's sobering assessment in this provocative and eye-opening book. Caplan argues that voters continually elect politicians who either share their biases or else pretend to, resulting in bad policies winning again and again by popular demand.Boldly calling into question our most basic assumptions about American politics, Caplan contends that democracy fails precisely because it does what voters want. Through an analysis of Americans' voting behavior and opinions on a range of economic issues, he makes the convincing case that noneconomists suffer from four prevailing biases: they underestimate the wisdom of the market mechanism, distrust foreigners, undervalue the benefits of conserving labor, and pessimistically believe the economy is going from bad to worse. Caplan lays out several bold ways to make democratic government work better--for example, urging economic educators to focus on correcting popular misconceptions and recommending that democracies do less and let markets take up the slack.The Myth of the Rational Voter takes an unflinching look at how people who vote under the influence of false beliefs ultimately end up with government that delivers lousy results. With the upcoming presidential election season drawing nearer, this thought-provoking book is sure to spark a long-overdue reappraisal of our elective system.

    involvement in endless wars, driven by a deep infatuation with military power, has been a catastrophe for the body politic. These pressing problems threaten all of us, Republicans and Democrats. If the nation is to solve its predicament, it will need the revival of a distinctly American approach: the neglected tradition of realism.Andrew J. Bacevich, uniquely respected across the political spectrum, offers a historical perspective on the illusions that have governed American policy since 1945. The realism he proposes includes respect for power and its limits; sensitivity to unintended consequences; aversion to claims of exceptionalism; skepticism of easy solutions, especially those involving force; and a conviction that the books will have to balance. Only a return to such principles, Bacevich argues, can provide common ground for fixing America’s urgent problems before the damage becomes irreparable.

    Both state control and privatization of resources have been advocated, but neither the state nor the market have been uniformly successful in solving common pool resource problems. After critiquing the foundations of policy analysis as applied to natural resources, Elinor Ostrom here provides a unique body of empirical data to explore conditions under which common pool resource problems have been satisfactorily or unsatisfactorily solved. Dr. Ostrom first describes three models most frequently used as the foundation for recommending state or market solutions. She then outlines theoretical and empirical alternatives to these models in order to illustrate the diversity of possible solutions. In the following chapters she uses institutional analysis to examine different ways--both successful and unsuccessful--of governing the commons. In contrast to the proposition of the tragedy of the commons argument, common pool problems sometimes are solved by voluntary organizations rather than by a coercive state. Among the cases considered are communal tenure in meadows and forests, irrigation communities and other water rights, and fisheries.

    Can cooperation persist without the dominance of a single power, such as the United States after World War II? To answer this pressing question, Robert Keohane analyzes the institutions, or international regimes, through which cooperation has taken place in the world political economy and describes the evolution of these regimes as American hegemony has eroded. Refuting the idea that the decline of hegemony makes cooperation impossible, he views international regimes not as weak substitutes for world government but as devices for facilitating decentralized cooperation among egoistic actors. In the preface the author addresses the issue of cooperation after the end of the Soviet empire and with the renewed dominance of the United States, in security matters, as well as recent scholarship on cooperation.

    Every day a new blaze seems to ignite: the bloody implosion of Iraq and Syria; the East-West standoff in Ukraine; abducted schoolgirls in Nigeria. Is there some thread tying these frightening international security crises together? In a riveting account that weaves history with fast-moving reportage and insider accounts from the Afghanistan war, Sarah Chayes identifies the unexpected link: corruption.Since the late 1990s, corruption has reached such an extent that some governments resemble glorified criminal gangs, bent solely on their own enrichment. These kleptocrats drive indignant populations to extremes—ranging from revolution to militant puritanical religion. Chayes plunges readers into some of the most venal environments on earth and examines what emerges: Afghans returning to the Taliban, Egyptians overthrowing the Mubarak government (but also redesigning Al-Qaeda), and Nigerians embracing both radical evangelical Christianity and the Islamist terror group Boko Haram. In many such places, rigid moral codes are put forth as an antidote to the collapse of public integrity.The pattern, moreover, pervades history. Through deep archival research, Chayes reveals that canonical political thinkers such as John Locke and Machiavelli, as well as the great medieval Islamic statesman Nizam al-Mulk, all named corruption as a threat to the realm. In a thrilling argument connecting the Protestant Reformation to the Arab Spring, Thieves of State presents a powerful new way to understand global extremism. And it makes a compelling case that we must confront corruption, for it is a cause—not a result—of global instability.

    Avert your eyes from this dangerous extremist, citizen! Government is composed of wise public servants who innocently pursue the common good! In Real Dissent, Tom Woods demolishes some of the toughest critics of libertarianism in his trademark way. In doing so he strays beyond what he calls the index card of allowable opinion, the narrow range within which the media and political classes permit debate to take place in America. Should 40% or 35% of our income be taxed? That's the kind of debate the New York Times prefers. Should our income be taxed at all? Now that's out of bounds, citizen! In foreign policy, Americans are permitted to choose between bombing a despised country or starving its people to death. You favor peace? Why, you must be an "extremist"! On the Federal Reserve, the debate is over which policy the Fed should pursue. But what if the Fed is itself the problem? No answer, because the question isn't raised. Real Dissent is organized into ten parts: Part I: War and Propaganda Part II: Capitalism and Anti-Capitalism Part III: Libertarianism Attacked, and My Replies Part IV: Ron Paul and Forbidden Truths Part V: End the Fed Part VI: History and Liberty Part VII: When Libertarians Go Wrong [on people who don't quite get their own philosophy] Part VIII: Books You May Have Missed Part IX: Talking Liberty: Selected Tom Woods Show Interviews Part X: Back to Basics Afterword: How I Evaded the Gatekeepers of Approved Opinion The index card of allowable opinion forces Americans into narrow and pointless debates, and closes off discussion of plausible and humane alternatives. For the sake of American liberty, it’s time we set that thing on fire. This book is a match. PRAISE FOR TOM WOODS: “During my presidential campaigns, Tom Woods wrote some of the most effective replies to some of my unkindest critics.... "Real Dissent is great fun to read, but also filled with useful debating points that will come in handy as you make the case for the free society with friends and family. Over the years I have worked together closely with Tom, one of the libertarian movement’s brightest and most prolific scholars, and I am delighted to commend his new book to you. You will enjoy it, and profit from it.” Ron Paul, former U.S. Congressman “The smartest guy in the room.” Judge Andrew P. Napolitano, Senior Judicial Analyst, FOX News “Tom Woods is one of my dearest allies in the struggle against wrong-headed and dangerous economic policy.” Peter Schiff “Tom Woods has written some great stuff over the years, and he's contributed to the education of a lot of people, including myself.” David Stockman, director of the Office of Management and Budget, 1981-1985 About the Author Thomas E. Woods Jr. is a senior fellow of the Ludwig von Mises Institute and host of The Tom Woods Show, a Monday-through-Friday podcast (at TomWoodsRadio.com). He has appeared on CNBC, FOX News, MSNBC, C-SPAN, FOX Business, Bloomberg Television, and many other outlets, and has been a guest on hundreds of radio programs. Tom is the New York Times betselling author of 12 books, including Meltdown (on the financial crisis) and The Politically Incorrect Guide to American History.

    Easternization is the defining trend of our age the growing wealth of Asian nations is transforming the international balance of power. This shift to the East is shaping the lives of people all over the world, the fate of nations, and the great questions of war and peace. A troubled but rising China is now challenging America s supremacy, and the ambitions of other Asian powers including Japan, North Korea, India, and Pakistan have the potential to shake the whole world. Meanwhile the West is struggling with economic malaise and political populism, the Arab world is in turmoil, and Russia longs to reclaim its status as a great power. As it becomes clear that the West s historic power and influence is receding, Gideon Rachman offers a road map to the turbulent process that will define the international politics of the twenty-first century."

    We are the sole superpower with no potential challenger for a generation. We can reach any point on the globe with our cruise missiles and smart bombs and our culture penetrates every nook and cranny of the global village. Yet we are now the most hated country on earth, buried beneath a mountain of debt and morally bankrupt.Where the Right Went Wrong chronicles how the Bush administration and Beltway conservatives have abandoned their principles, and how a tiny cabal hijacked U. S. foreign policy, and may have ignited a "war of civilizations" with the Islamic world that will leave America's military mired down in Middle East wars for years to come.At the same time, these Republicans have sacrificed the American worker on the altar of free trade and discarded the beliefs of Taft, Goldwater and Reagan to become a party of Big Government that sells its soul to the highest bidder.A damning portrait of the present masters of the GOP, Where the Right Went Wrong calls to task the Bush administration for its abandonment of true conservatism including:*The neo-conservative cabal-liberal wolves in conservative suits.*Why the Iraq War has widened and imperiled the War on Terror.*How current trade policy outsources American sovereignty, independence and industrial power."Buchanan is an honest writer who...minces nothing except an occasional opponent." --The Philadelphia Inquirer

    The emergence of factories, railroads, and gunboats propelled the West’s rise to power in the nineteenth century, and the development of computers and nuclear weapons in the twentieth century secured its global supremacy. Now, at the beginning of the twenty-first century, many worry that the emerging economic power of China and India spells the end of the West as a superpower. In order to understand this possibility, we need to look back in time. Why has the West dominated the globe for the past two hundred years, and will its power last?Describing the patterns of human history, the archaeologist and historian Ian Morris offers surprising new answers to both questions. It is not, he reveals, differences of race or culture, or even the strivings of great individuals, that explain Western dominance. It is the effects of geography on the everyday efforts of ordinary people as they deal with crises of resources, disease, migration, and climate. As geography and human ingenuity continue to interact, the world will change in astonishing ways, transforming Western rule in the process.Deeply researched and brilliantly argued, Why the West Rules—for Now spans fifty thousand years of history and offers fresh insights on nearly every page. The book brings together the latest findings across disciplines—from ancient history to neuroscience—not only to explain why the West came to rule the world but also to predict what the future will bring in the next hundred years.

    In 1995 a Gallup poll found that 52 percent of Americans said "the federal government has become so large and powerful that it poses an immediate threat to the rights and freedoms of ordinary citizens." Later that year, The Wall Street Journal concurred, saying: "Because of their growing disdain for government, more and more Americans appear to be drifting—often unwittingly—toward a libertarian philosophy." Libertarianism is hardly new, but its framework for liberty under law and economic progress makes it especially suited for the dynamic new era we are now entering. In the United States, the bureaucratic leviathan is newly threatened by a resurgence of the libertarian ideas upon which the country was founded. We are witnessing a breakdown of all the cherished beliefs of the welfare-warfare state. Americans have seen the failure of big government. Now, in the 1990s, we are ready to apply the lessons of this century to make the next one the century not of the state but of the free individual. David Boaz presents the essential guidebook to the libertarian perspective, detailing its roots, central tenets, solutions to contemporary policy dilemmas, and future in American politics. He confronts head-on the tough questions frequently posed to libertarians: What about inequality? Who protects the environment? What ties people together if they are essentially self-interested? A concluding section, "Are You a Libertarian?" gives readers a chance to explore the substance of their own beliefs. Libertarianism is must reading for understanding one of the most exciting and hopeful movements of our time.

    But the Chinese political model does not fit neatly in either category. Over the past three decades, China has evolved a political system that can best be described as "political meritocracy." "The China Model" seeks to understand the ideals and the reality of this unique political system. How do the ideals of political meritocracy set the standard for evaluating political progress (and regress) in China? How can China avoid the disadvantages of political meritocracy? And how can political meritocracy best be combined with democracy? Daniel Bell answers these questions and more.Opening with a critique of "one person, one vote" as a way of choosing top leaders, Bell argues that Chinese-style political meritocracy can help to remedy the key flaws of electoral democracy. He discusses the advantages and pitfalls of political meritocracy, distinguishes between different ways of combining meritocracy and democracy, and argues that China has evolved a model of democratic meritocracy that is morally desirable and politically stable. Bell summarizes and evaluates the "China model"--meritocracy at the top, experimentation in the middle, and democracy at the bottom--and its implications for the rest of the world.A timely and original book that will stir up interest and debate, "The China Model" looks at a political system that not only has had a long history in China, but could prove to be the most important political development of the twenty-first century.

    Sachs has been at the forefront of international problem solving. But Sachs turns his attention back home in 'The Price of Civilization,' a book that is essential reading for every American. In a forceful, impassioned, and personal voice, he offers not only a searing and incisive diagnosis of our country's economic ills but also an urgent call for Americans to restore the virtue of fairness, honesty, and foresight as the foundations of national prosperity." Inside book cover comments.

    Although it has had its critics, the fact that it continues to be the most long lived text for courses in international relations attests to its enduring value. Someone has said the study of international relations has for half a century been nothing so much as a dialogue between Morgenthau, those who embrace his approach, and those who turn elsewhere for enlightenment. After 50 years, the dialogue between Morgenthau and scholars from around the world continues more or less as in the past something with more intensity even in an "age of terror." The new edition preserves intact Morgenthau's original work while adding a 40 page introduction by the editors who explore its relevance for a new era. What follows the introduction are the perspectives of a dozen statesmen, scholars, and observers each offering insights on Morgenthau's concepts and ideas as they relate to current crises on every continent. They bring up to date the dialogue that began in 1948.