The Rules Of The Game In The Global Economy
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The Rules of the Game in the Global Economy
Author: Lee E. Preston
language: en
Publisher: Springer Science & Business Media
Release Date: 2013-11-11
This study has been long in the making, and the world has changed dramatically while we have been at work. We initially anticipated a substantial section on the Soviet-dominated Council for Mutual Economic Assistance (CMEA or "COMECON"), which offered an interesting contrast to the kind of international business regime typically found among market-oriented countries and industries. As we moved toward publi- tion, the CMEA vanished, and so we mention it only in passing. The USSR subsequently disintegrated into a Commonwealth of Independent States (CIS). On the other hand, we began with the assumption that the historic "rule of capture" no long played a significant role in international economic relations. The seizure of Kuwait's territory and wealth by the government of Iraq suggests that this assumption was heavily influenced by wishful thinking. Even though this seizure has been reversed by military action, the experience remains a challenge to generally held beliefs about the strength of "order" versus "chaos" in contemporary international affairs. Some readers of this volume have suggested that it gives insufficient attention to the fact that many of the important business and economic regimes of the postwar period are currently under significant pressure, perhaps even in danger of collapse. We acknowledge that there are many evidences of strain in, for example, the free trade and money exchange regimes, and in many areas of environmental protection.
Rules for the Global Economy
Author: Horst Siebert
language: en
Publisher: Princeton University Press
Release Date: 2016-06-28
Rules for the Global Economy is a timely examination of the conditions under which international rules of globalization come into existence, enabling world economic and financial systems to function and stabilize. Horst Siebert, a leading figure in international economics, explains that these institutional arrangements, such as the ones that govern banking, emerge when countries fail to solve economic problems on their own and cede part of their sovereignty to an international order. Siebert demonstrates that the rules result from a trial-and-error process--and usually after a crisis--in order to prevent pointless transaction costs and risks. Using an accessible and nonmathematical approach, Siebert links the rules to four areas: international trade relations, factor movements, financial flows, and the environment. He looks at the international division of labor in the trade of goods and services; flow of capital; diffusion of technology; migration of people, including labor and human capital; protection of the global environment; and stability of the monetary-financial system. He discusses the role of ethical norms and human rights in defining international regulations, and argues that the benefits of any rules system should be direct and visible. Comprehensively supporting rules-based interactions among international players, the book considers future issues of the global rules system.
Nations and Firms in the Global Economy
Author: Steven Brakman
language: en
Publisher: Cambridge University Press
Release Date: 2006-03-16
Conclusion: 13.