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
An ambitious account of the corrosion of liberal democracy in rich and poor countries alike, arguing that antidemocratic sentiment reflects fear of material and cultural loss, not a critique of liberalism’s failure to deliver equality, and suggesting possible ways out.
The retreat of liberal democracy in the twenty-first century has been impossible to ignore. From Wisconsin to Warsaw, Budapest to Bangalore, the public is turning against pluralism and liberal institutions and instead professing unapologetic nationalism and majoritarianism. Critics of inequality argue that this is a predictable response to failures of capitalism and liberalism, but Pranab Bardhan, a development economist, sees things differently. The problem is not inequality but insecurity—financial and cultural.
Bardhan notes that antidemocratic movements have taken root globally in a wide range of demographic and socioeconomic groups. In the United States, older, less-educated, rural populations have withdrawn from democracy. But in India, the prevailing Hindu Nationalists enjoy the support of educated, aspirational urban youth. And in Europe, antidemocratic populists firmly back the welfare state (but for nonimmigrants). What is consistent among antidemocrats is fear of losing what they have. That could be money but is most often national pride and culture and the comfort of tradition.
A World of Insecurity argues for context-sensitive responses. Some, like universal basic income schemes, are better suited to poor countries. Others, like worker empowerment and international coordination, have broader appeal. But improving material security won’t be enough to sustain democracy. Nor, Bardhan writes, should we be tempted by the ultimately hollow lure of China’s authoritarian model. He urges liberals to adopt at least a grudging respect for fellow citizens’ local attachments. By affirming civic forms of community pride, we might hope to temper cultural anxieties before they become pathological.
In the second part, the author dissects the Entebbe raid, where Israeli forces rescued a group of hostages being detained by hijackers at a Ugandan airport. His analysis shows the deficiencies of the international system in dealing with such a complex issue, where several contradictory principles of international law could be applied and were defended by various protagonists.
The third part starts with a parallel problem--the Iranian hostages crisis, where a group of U.S. officials found themselves in an unprecedented situation of being captured by a band of students. A critical analysis of the handling of this problem by the Carter Administration is followed by vignettes of other crises faced by the Administration and by its successor, the Reagan Administration. This part is less analytical and more prescriptive. The author is no long satisfied with pointing out what went wrong; instead, he departs from the usual hands-off policy of political scientists and tries to indicate how much better each situation could have been handled if the decision makers had been paying more attention to international law and international organizations. The theme is slowly developed that in the long run national interest is better served not by practicing power politics and relying on the use of threat of force but by strengthening those international institutions that can provide a neutral environment for first slowing down a crisis and then finding an equitable solution acceptable to most of the parties in conflict.
The value of this book lies primarily in giving the reader a real insight into several important issues of today that are familiar to most people only from newspaper headlines and television news. While not everybody can agree with all his criticisms of the mistakes of various governments, there is an honest attempt by the author to present issues impartially and to let the blame fall where it may. Being both an international lawyer and a political scientist, the author has had the advantage of combining the methodology of these two social sciences into a rich tapestry with some startling shades and tones.
How a group of intellectuals and policymakers transformed development economics and gave Latin America a new position in the world.
After the Second World War demolished the old order, a group of economists and policymakers from across Latin America imagined a new global economy and launched an intellectual movement that would eventually capture the world. They charged that the systems of trade and finance that bound the world’s nations together were frustrating the economic prospects of Latin America and other regions of the world. Through the UN Economic Commission for Latin America, or CEPAL, the Spanish and Portuguese acronym, cepalinos challenged the orthodoxies of development theory and policy. Simultaneously, they demanded more not less trade, more not less aid, and offered a development agenda to transform both the developed and the developing world. Eventually, cepalinos established their own form of hegemony, outpacing the United States and the International Monetary Fund as the agenda setters for a region traditionally held under the orbit of Washington and its institutions. By doing so, cepalinos reshaped both regional and international governance and set an intellectual agenda that still resonates today.
Drawing on unexplored sources from the Americas and Europe, Margarita Fajardo retells the history of dependency theory, revealing the diversity of an often-oversimplified movement and the fraught relationship between cepalinos, their dependentista critics, and the regional and global Left. By examining the political ventures of dependentistas and cepalinos, The World That Latin America Created is a story of ideas that brought about real change.
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