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1341. Time for Change in Global Trade and Financial Governance

Author:
Barry Herman
Publication Date:
04-2008
Content Type:
Working Paper
Institution:
The New School Graduate Program in International Affairs
Abstract:
The governance structures of the International Monetary Fund, World Bank and World Trade Organization are distinct, although the meetings of the leaders of the Group of 7 industrial countries (G8 including Russia on political matters) provide an opportunity to forge coherence at least with the interests of those countries. Sometimes heads of other countries are invited to meet on the fringes of the summits, but these consultations are hardly negotiating forums. This paper argues why this is no longer tenable, if it ever was, and how to go about building a more representative structure of global trade and financial governance.
Topic:
Globalization, Government, International Organization, and International Trade and Finance
Political Geography:
Russia

1342. Turning to the Left? Understanding Some Unexpected Events in Latin America

Author:
Carlos M. Vilas
Publication Date:
01-2008
Content Type:
Journal Article
Journal:
The Journal of Diplomacy and International Relations
Institution:
School of Diplomacy and International Relations, Seton Hall University
Abstract:
Argentina, Bolivia, Brazil, Chile, Ecuador, Nicaragua, Uruguay and Venezuela are currently ruled by governments that are typically considered to be on the left of the political spectrum due to their progressive, reformist stances. Together, these states account for almost two thirds of Latin America's population and roughly half of its combined GDP. In the 2006 presidential election in Mexico, the candidate who shared the political views of the aforementioned states was defeated by less than percent in a contested turnout.
Topic:
Government
Political Geography:
Brazil, Argentina, Uruguay, Latin America, Nicaragua, Venezuela, Mexico, Chile, Ecuador, and Bolivia

1343. Sovereign Wealth Funds and the International Monetary System

Author:
Anthony Elson
Publication Date:
09-2008
Content Type:
Journal Article
Journal:
The Journal of Diplomacy and International Relations
Institution:
School of Diplomacy and International Relations, Seton Hall University
Abstract:
Since the end of last year, much public attention has been focused on the growing importance of sovereign wealth funds (hereafter SWFs), which are large investment pools managed by national governments primarily among oil exporters and emerging market economies. Many of these governments have accumulated substantial foreign reserves because of large trade surpluses, some of which they have begun to invest in a range of financial instruments that is more diversified than is typically the case for central bank international reserves in order to improve the yield on their foreign asset positions.
Topic:
Economics and Government

1344. The Cultural Impact on China's New Diplomacy

Author:
Wilfried Bolewski and Candy M. Rietig
Publication Date:
09-2008
Content Type:
Journal Article
Journal:
The Journal of Diplomacy and International Relations
Institution:
School of Diplomacy and International Relations, Seton Hall University
Abstract:
China is in a state of universal change—economically, culturally, politically and diplomatically—and the international community is taking note of the Chinese posture as an ascending global power. As a nation, China has economically liberalized and opened up to the world while retaining a government that by some definitions would be considered authoritarian. Previously an aloof international actor, increased participation in international organizations like the United Nations and dramatic increases in contributions to peacekeeping missions are just two examples of the larger soft power network Beijing is establishing. These activities in public diplomacy are aimed at raising international popularity and acceptance of an ascending China through cooperative behavior and international engagement. As Jamie Roth puts it, “China's new public diplomacy seems to have taken careful note of how to strengthen the country's image abroad through cultural relations.”Because the Chinese want to be able to deal with the challenges of a globalized world, they have adopted a strategy of learning from other participants.
Topic:
Diplomacy, Economics, Government, and United Nations
Political Geography:
China and Beijing

1345. Law Markets: A model for Predicting Laws, Governments, and Institutions

Author:
Graham Lawlor
Publication Date:
09-2008
Content Type:
Journal Article
Journal:
The Journal of Diplomacy and International Relations
Institution:
School of Diplomacy and International Relations, Seton Hall University
Abstract:
Law Markets is a positive economic model, which treats laws as tradable goods, citizens as consumers of laws, and governments as producers of laws. This model borrows heavily from the fields of Public Choice, which models political actors as economic agents, and from New Institutional Economics, which analyzes social contracts in the presence of transaction costs. The financial fields of Efficient Markets Theory and Behavioral Finance provide tools to measure transaction costs and empirical studies to demonstrate long-term trends.
Topic:
Economics, Government, and Law

1346. European and American Roles in Nation-Building

Author:
James Dobbins
Publication Date:
12-2008
Content Type:
Journal Article
Journal:
The International Spectator
Institution:
Istituto Affari Internazionali
Abstract:
Contrary to popular belief, the number of conflicts and the number of casualties, refugees and displaced persons resulting from them has fallen dramatically since the end of the Cold War. Previously, with neither superpower wanting a dispute to be settled to its disadvantage, conflicts dragged on indefinitely or were permanently frozen. After 1989, dynamics changed and international interventions began to pursue more far-reaching objectives: to disarm combatants, promote civil society, restore the economy, etc. Nation-building thus replaced inter-positional peacekeeping as the dominant form of international intervention with such missions becoming larger, longer and more frequent. The UN's success rate, as measured in enhanced security, economic growth, return of refugees and installation of representative governments meets or exceeds that of NATO- and EU-led missions in almost every category. It is time, therefore, for Western governments, militaries and populations to get over their disappointment at the UN's early failures and begin once again to do their fair share in these efforts.
Topic:
NATO, Cold War, and Government
Political Geography:
America and Europe

1347. Not a Zero-Sum Game: Atlanticism and Europeanism in Italian Foreign Policy

Author:
Osvaldo Croci
Publication Date:
12-2008
Content Type:
Journal Article
Journal:
The International Spectator
Institution:
Istituto Affari Internazionali
Abstract:
In Italy, Atlanticism and Europeanism should not be seen as two alternative and therefore mutually exclusive policies. Strengthening Atlanticism, for instance, does not necessarily correspond to an equal weakening of Europeanism, as implicitly assumed by those who expect a tilt one way or the other each time a centre-right government replaces a centre-left one or vice versa. Rather, the two policies are hierarchical and constitute a "nested game", with Europeanism nested, as it were, in Atlanticism. Italy's foreign policy choices thus result from a double constraint, one of which, Atlanticism, is more important than the other, Europeanism. More precisely, Italian foreign policymakers have traditionally regarded Europeanism as a policy aimed at reinforcing Atlanticism.
Topic:
Foreign Policy and Government
Political Geography:
Europe

1348. Gordon Brown Comes to Brussels (Reluctantly)

Author:
Brendan Donnelly
Publication Date:
03-2008
Content Type:
Journal Article
Journal:
The International Spectator
Institution:
Istituto Affari Internazionali
Abstract:
Despite the belief of some that British Prime Minister Brown's attitudes towards the European Union could not be predicted, much in his period as Chancellor of the Exchequer suggested that Britain's role within the European Union would not be a high priority of his premiership. Early indications bear out this expectation. There will probably not be a British referendum on the Reform Treaty, but the rhetoric employed by Brown's government to describe the Treaty will be negative and minimalist. Although no significant body of British opinion favours with-drawal from the European Union, British popular resentment towards the Union is unlikely to disappear under Brown's leadership.
Topic:
Government and Reform
Political Geography:
Britain and Europe

1349. From the Editor

Author:
Craig Biddle
Publication Date:
09-2008
Content Type:
Journal Article
Journal:
The Objective Standard
Institution:
The Objective Standard
Abstract:
Welcome to the now-orange-for-better-visibility-on-the-newsstands Fall 2008 issue of TOS. Here is a preview of the seven articles at hand:My essay, "McBama vs. America," surveys the promises of John McCain and Barack Obama, shows that these intentions are at odds with the American ideal of individual rights, demonstrates that the cause of such political aims is a particular moral philosophy (shared by McCain and Obama), and calls for Americans to repudiate that morality and to embrace instead a morality that supports the American ideal.
Topic:
Government
Political Geography:
Japan and America

1350. The Resurgence of Big Government

Author:
Yaron Brook
Publication Date:
09-2008
Content Type:
Journal Article
Journal:
The Objective Standard
Institution:
The Objective Standard
Abstract:
Following the economic disasters of the 1960s and 1970s, brought on by the statist policies of the political left, America seemed to change course. Commentators called the shift the "swing to the right"-that is, toward capitalism. From about 1980 to 2000, a new attitude took hold: the idea that government should be smaller, that recessions are best dealt with through tax cuts and deregulation, that markets work pretty effectively, and that many existing government interventions are doing more harm than good. President Bill Clinton found it necessary to declare, "The era of big government is over." Today that attitude has virtually vanished from the public stage. We are now witnessing a swing back to the left-toward statism. As a wave of recent articles have proclaimed: The era of big government is back. The evidence is hard to miss. Consider our current housing and credit crisis. From day one, it was blamed on the market and a lack of oversight by regulators who were said to be "asleep at the wheel." In response to the crisis, the government, the policy analysts, the media, and the American people demanded action, and everyone understood this to mean more government, more regulation, more controls. We got our wish. First came the Fed's panicked slashing of interest rates. Then the bailout of Bear Stearns. Then the bailout of Freddie Mac. Then a $300 billion mortgage bill, which passed by a substantial margin and was signed into law by President Bush. No doubt more is to come. All of this intervention, of course, is supported by our presidential candidates. Both blame Wall Street for the current problems and vow to increase the power of the Fed's and the SEC's financial regulators. John McCain has announced that there are "some greedy people on Wall Street that perhaps need to be punished." Both he and Barack Obama envision an ever-growing role for government in the marketplace, each promises to raise taxes in some form or another, and both support more regulations, particularly on Wall Street. Few doubt they will keep these promises. What do Americans think of all this? A recent poll by the Wall Street Journal and NBC News found that 53 percent of Americans want the government to "do more to solve problems." Twelve years earlier, Americans said they opposed government interference by a 2-to-1 margin. In fact, our government has been "doing more" throughout this decade. While President Bush has paid lip service to freer markets, his administration has engineered a vast increase in the size and reach of government. He gave us Sarbanes-Oxley, the largest expansion of business regulation in decades. He gave us the Medicare prescription drug benefit, the largest new entitlement program in thirty years. He gave us the "No Child Left Behind Act," the largest expansion of the federal government in education since 1979. This is to say nothing of the orgy of spending over which he has presided: His 2009 budget stands at more than $3 trillion-an increase of more than a $1 trillion since he took office. All of this led one conservative columnist to label Bush "a big government conservative." It was not meant as a criticism. Americans entered the 21st century enjoying the greatest prosperity in mankind's history. And many agreed that this prosperity was mainly the result of freeing markets from government intervention, not only in America, but also around the world. Yet today, virtually everyone agrees that markets have failed. Why? What happened? To identify the cause of today's swing to the left, we need first to understand the cause and consequences of the swing to the right.
Topic:
Education and Government
Political Geography:
America