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Globalization and the new politics of embedded liberalism

Author: Jude C Hays
Publisher: Oxford ; New York : Oxford University Press, 2009.
Edition/Format:   Print book : EnglishView all editions and formats
Summary:
"Political economists have argued that the domestic political foundation of the liberal international economy rests on an implicit contract between governments and their citizens called the bargain of embedded liberalism, according to which governments are expected to protect their citizens from the vagaries of the global economy in return for political support for policies like free trade that drive economic  Read more...
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Additional Physical Format: Online version:
Hays, Jude C.
Globalization and the new politics of embedded liberalism.
Oxford ; New York : Oxford University Press, 2009
(OCoLC)676714071
Document Type: Book
All Authors / Contributors: Jude C Hays
ISBN: 9780195369335 0195369335 9780195369328 0195369327
OCLC Number: 310959283
Description: ix, 194 pages : illustrations ; 25 cm
Contents: Economic Globalization and Domestic Politics in the Developed Democracies --
Government Spending and Public Support for Trade in the OECD --
Trade and Employment Volatility in Corporatist and Competitive Labor Markets --
Globalization and Capital Taxation in Consensus and Majoritarian Democracies --
Saving Embedded Liberalism in the Anglo-American Democracies --
Conclusion.
Responsibility: Jude C. Hays.

Abstract:

"Political economists have argued that the domestic political foundation of the liberal international economy rests on an implicit contract between governments and their citizens called the bargain of embedded liberalism, according to which governments are expected to protect their citizens from the vagaries of the global economy in return for political support for policies like free trade that drive economic globalization. To help stem the rising tide of opposition to globalization, the bargain of embedded liberalism - currently under strain from forces associated with the multinationalization of production, the internationalization of financial markets, and now global recession - must be reestablished and bolstered." "This book explores the political and economic institutional foundations of the bargain of embedded liberalism and the ways domestic institutions shape how governments redistribute the risks and benefits of economic globalization. The author identifies the Anglo-American democracies, because of their majoritarian polities combined with decentralized, competitive economies, as uniquely vulnerable to the contemporary challenges of globalization and the most susceptible to a backlash against it."--BOOK JACKET.

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Academic and scholarly presses alike have published scores of books praising the benefits of globalization. This, as Jude Hays demonstrates in his prescient book, may be wishful thinking. Combining Read more...

 
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