Recommending Books for Purchase (Bulletin 78 - June 2020): International Political Economy

Throughout the twentieth century, the Chilean business elite has played a central role in the country, not just as entrepreneurs but also as political and social actors. The chapters in this book, the first in English on the history of Chilean business, focus on the importance of diversified family business groups in twentieth-century Chile, their dynamics, organisation, and management, and their interaction with foreign investors and the state. Using a range of company and government archives, as well as other contemporary sources in Chile, Britain, and the United States, the individual authors pay particular attention to many key topics: the evolution of the Edwards family businesses, those of Pascual Baburizza, Chilean corporate networks, British firms in the nitrate industry, the Anglo South American Bank, the Copec group, Compañía Explotadora de Tierra del Fuego, the energy sector, SOFOFA (the industrialists' association), and the recent growth of Chilean multinationals.

This book analyzes key aspects of Marx's Capital with an eye towards its relevance for an understanding of issues confronting us in the 21st Century.  The contributions to this volume suggest that while aspects of Marx's original analysis must be adjusted to take into account changes that have occurred since its initial publication in 1867, his overall perspective remains necessary for understanding the nature of crises in 21st century.  Part I emphasizes the central concepts Marx employed in Capital, including exploitation, capital accumulation, commodity fetishism, and his use of dialectics as a method for baring the underlying relations that define capitalism. Parts II and III extend that focus by addressing the concept of value, fictitious capital, credit and financialization. Parts IV and V offer analyses of several concrete manifestations of contemporary crises from national contexts (Europe, Latin America, China, and the United States). The volume argues that we have to combat the imperatives of capitalism to move towards a more humane and egalitarian future.

This book offers an analysis of China in its muddling through of financial reforms towards adopting a local real property tax. The research is designed to serve dual purposes. First, it is an effort to provide an independent perspective on an urgent public policy under consideration by the Chinese government and to reflect upon this policy's process, which started over a dozen years ago yet is still in the fermenting stage with no sight of fruition. Additionally, this project is intended to share China's experience with other developing and transitional countries, so they can discern the difficulties China has faced and understand what may entangle them in the modernization of their taxation systems.  

This book characterizes South Korea's pre-neoliberal regime of social governance as developmental liberalism and analyzes the turbulent processes and complex outcomes of its neoliberal degeneration since the mid-1990s. Instead of repeating the politically charged critical view on South Korea's failure in socially inclusionary and sustainable development, the author closely examines the systemic interfaces of the economic, political, and social constituents of its developmental transformation. South Korea has turned and remained developmentally liberal, rather than liberally liberal (like the United States), in its economic and sociopolitical configuration of social security, labor protection, population, education, and so forth. Initially conceived in the late 1980s, ironically along its democratic restoration, and radically accelerated during the national financial crisis in the late 1990s, South Korea's neoliberal transition has become incomparably volatile and destructive, due crucially to its various distortive effects on the country's developmental liberal order.

This book analyzes the dynamic political economy of authoritarian institutions in China and attempts to answer the following questions: What is the significance of China's authoritarian institutions and the changes Xi Jinping has brought to them? Why did the Chinese elites go along with the changes that affected them negatively? Through these questions, the author unravels the mechanics of authoritarian resilience as well as its dynamics. The work reviews both literatures on China studies and comparative authoritarianism to introduce a general framework for analyzing authoritarian institutional change under dictatorships.

This book studies the challenges for Indonesia, once a miracle economy, as it faces premature deindustrialisation, rising inequality and domestic and external factors impacting its export-oriented industrialization. Since the fall of Soeharto, Indonesia has undergone a far-reaching systemic transition from centralised and autocratic governance to a highly decentralised and democratic system. Complicated by regional variations, the country is now being called upon to respect labour rights and, amidst slow global economic recovery, is facing increased competition from other low-labour-cost countries, especially within the ASEAN Economic Community. Tadjoeddin and Chowdhury posit that Indonesia cannot recreate its past miracle based on cheap labour and suppression of labour rights. It will need to move quickly to high value-added activities driven by productivity growth and to develop its domestic market.

The euro crisis made Europe's stateless currency falter. This book retraces and interprets the ways in which the crisis impacted the unique institutional set-up of Europe's Economic and Monetary Union (EMU). It argues that the crisis propelled the European continent towards the institutionalization of an unprecedented form of centralized authority: Europe's New Fiscal Union. Diving into the central functions of fiscal surveillance, financial assistance, lending of last resort and banking resolution, the book reveals how a covert and convoluted mutualisation process occurred in the shadow of the euro crisis management. Based on 62 interviews conducted by the author with senior policy-makers in Brussels, Frankfurt, Helsinki and Rome, the book claims that Europe's New Fiscal Union is largely unsettled and still unstable. It therefore engages with the challenges arising from the patchwork of newly adopted rules, instruments and bodies, suggesting crucial reform steps to make EMU sustainable.

This book argues that political Islam (represented by its moderate and militant forms) has failed to govern effectively or successfully due to its inability to reconcile its discursive understanding of Islam, centered on literal justice, with the dominant neo-liberal value of freedom. Consequently, Islamists' polities have largely been abject, often tragic failures in providing a viable collective life and sound governance. This argument is developed theoretically and supported through a set of case studies represented by the Muslim Brotherhood in Egypt (under President Muhammad Morsi's tenure), Hassan Turabi's National Islamic Front in Sudan and The Islamic State in Iraq and Syria (ISIS). It is ideal for audiences interested in Regional Politics, Islamic Studies and Middle Eastern Studies.

This book identifies major elements that influenced Sino-US relations before the reform and opening up of said relations. These include the Taiwan question's impact on the policies of both countries, the Korean War, the Cold War, Japan and the Sino-Soviet split. The book is divided into two complementary sections: the first addresses the evolution of Sino-US relations, while the second examines Indo-US relations, especially after 1991 and the end of the Cold War and the 'social-imperialism' of the USSR. In addition, the book explores the mores of the Chinese leadership; the period of the relationship's consolidation and growth, punctuated by China's turning to 'market socialism', led by Deng; the impact of the end of the Cold War; and its lasting influence. In closing, the book calls for responses to India's play as a hedge to Chinese growth, as originally envisioned by the Clinton, Bush, and Obama Administrations. The roles that Japan, Australia and ASEAN play in this matrix are also explored.

This book explores the linkages between Amartya Sen's Capability Approach and participatory forms of development - especially those associated with critical pedagogy and empowerment from the bottom-up. It shows how the capability approach and the participatory movement can complement and reinforce each other helping to ensure that democratic principles are respected and become the foundation for sustainable human development. The Capability Approach provides guiding principles for protecting the transformative roots of participation (safeguarding ownership, accountability and empowerment), while participation delivers vital methods for making the Capability Approach operational. Divided into three overlapping parts that focus on concepts, methods and applications, this work draws on diverse fieldwork experiences to unpack power relations, address adaptive preferences, explore individual and collective agency, consider new partnerships for development, and develop innovative concepts.

This book uses the political economy approach to examine the relative failure of federalism in Nigeria. It shows the nexus between the political and the economic aspects of the country's federalism. The central feature of Nigeria's political economy is the relationship between oil resources and the state. The author argues that the inability of the federal government to distribute the oil wealth fairly amongst the component units contributes to the dysfunctional character of the federal system. This deficiency is rooted in the country's unbalanced political economy, which promotes over-dependency on oil and consequently an over-centralised federal system. The book concludes that despite its complexities, federalism has become the basis for the country's stability. Therefore, ethno-regional demands for 'true federalism' will continue until the political elite reform the ailing federal system.

This study entails a theoretical reading of the Iranian modern history and follows an interdisciplinary agenda at the intersection of philosophy, psychoanalysis, economics, and politics and intends to offer a novel framework for the analysis of socio-economic development in Iran in the modern era. A brief review of Iranian modern history from the Constitutional Revolution to the Oil Nationalization Movement, the 1979 Islamic Revolution, and the recent Reformist and Green Movements demonstrates that Iranian people travelled full circle. This historical experience of socio-economic development revolving around the bitter question of "Why are we backward?" and its manifestation in perpetual socio-political instability and violence is the subject matter of this study. Michel Foucault's conceived relation between the production of truth and production of wealth captures the essence of hypothesis offered in this study. Foucault (1980: 93-94) maintains that "In the last analysis, we must produce truth as we must produce wealth; indeed we must produce truth in order to produce wealth in the first place." Based on a hybrid methodology combining hermeneutics of understanding and hermeneutics of suspicion, this monograph proposes that the failure to produce wealth has had particular roots in the failure in the production of truth and trust. At the heart of the proposed theoretical model is the following formula: the Iranian subject's confused preference structure culminates in the formation of unstable coalitions which in turn leads to institutional failure, creating a chaotic social order and a turbulent history as experienced by the Iranian nation in the modern era. As such, the society oscillates between the chaotic states of socio-political anarchy emanating from irreconcilable differences between and within social assemblages and their affiliated hybrid forms of regimes of truth in the springs of freedom and repressive states of order in the winters of discontent. Each time, after the experience of chaos, the order is restored based on the emergence of a final arbiter (Iranian leviathan) as the evolved coping strategy for achieving conflict resolution. This highly volatile truth cycle produces the experience of socio-economic backwardness and violence. The explanatory power of the theoretical framework offered in the study exploring the relation between the production of truth, trust, and wealth is demonstrated via providing historical examples from strong events of Iranian modern history. The significant policy implications of the model are explored. This monograph will appeal to researchers, scholars, graduate students, policy makers and anyone interested in the Middle Eastern politics, Iran, development studies and political economy.

Against the backdrop of combating the financial and economic crisis in the European Union for the past decade, this volume strives to explore the manifold impacts the prevailing crisis management has on the further alignment of European Integration. The efforts targeted at overcoming the financial and economic crisis evoked far-reaching consequences on the societal, economic, and political level within European member states, which in turn challenge the institutional alignment, democratic legitimacy and economic coherence of the European Union. Taking into account current developments in the EU, the contributions presented in this volume focus on the 'fault lines' in the integration process, i.e. questions of policy coherence, democratic accountability, financialization, militarization, migration, gendered social and economic asymmetries as well as the rise of populist and extreme right-wing parties. The volume focuses on how these different developments come together by relating aspects of transdisciplinary research to uncover the fault lines in the European integration project in the subsequent chapters.  Content Economic and Democratic Governance * Right Wing Populism and Right Extreme Parties * Financialization and Militarization * Social Exclusion, Welfare and Migration Policies  Editors Prof. (FH) Dr. Stefanie Wöhl, University of Applied Sciences BFI Vienna.  Prof. (FH) Dr. Elisabeth Springler, University of Applied Sciences BFI Vienna.  Mag. Martin Pachel, University of Applied Sciences BFI Vienna.  Dr. Bernhard Zeilinger, University of Applied Sciences BFI Vienna.

This book assesses the important role of the Association of Southeast Asian Nations (ASEAN) in the management of regional political, security and economic relations. The author argues that ASEAN's prominent role in the region, spanning 50 years, is largely due to the acquiescence of the great powers who endorsed ASEAN, accepted its regional position and accorded the institution a legitimacy and durability that, otherwise, it would not have. This text offers a key intervention into the debate regarding ASEAN and regional order by showing how ASEAN's contribution to order management is part of a negotiated division of labour with the great powers. The author applies an innovative social roles analysis, which captures the dynamic interactions between ASEAN and the great powers from the Cold War to the present day. 

Democracy is in crisis because voices of the people are ignored due to a politics of mass society. After demonstrating how the French Fourth Republic failed, wherein Singapore's totalitarianism is a dangerous model, Washington is enmeshed in gridlock, and there is a global democracy deficit, solutions are offered to revitalize democracy as the best form of government. The book demonstrates how mass society politics operates, with intermediate institutions of civil society (media, pressure groups, political parties) no longer transmitting the will of the people to government but instead are concerned with corporate interests and have developed oligarchical mindsets. Rather than micro-remedy bandaids, the author focuses on the need to transform governing philosophies from pragmatic to humanistic solutions.