I have been trying to understand India’s evolution especially its economic path for the last half-century— by reading, traveling, and writing on aspects of that evolution. Originally this started with the Cold War concern about how a democracy would navigate using a democratic political system. So I took appropriate courses in college and graduate school, worked in India in the Peace Corps, and then spent a little under a decade teaching about it a doing research. For the following five decades I have continued my interest and publishing and studying. Whether I have understood much is for others to determine but these are my five book nominees.
A summary of the dramatic economic transformation of India since 1991 by one of its key economic policymakers. Though abstracting from some of the debate about details, this is a readable presentation especially from the point of view of policymakers. What all of this meant for the general public can be seen in the next volume. Both but especially this volume are one of competing accounts of how it happened. Success has many fathers.
In this commemorative volume, India's top business leaders and economic luminaries come together to provide a balanced picture of the consequences of the country's economic reforms, which were initiated in 1991. What were the reforms? What were they intended for? How have they affected the overall functioning of the economy?
With contributions from Mukesh Ambani, Narayana Murthy, Sunil Mittal, Kiran Mazumdar-Shaw, Shivshankar Menon, Montek Singh Ahluwalia, T.N. Ninan, Sanjaya Baru, Naushad Forbes, Omkar Goswami and R. Gopalakrishnan, India Transformed delves deep into the life of an economically liberalized India through the eyes of the people who helped transform it.
I was born in North Dakota and raised outside of Minneapolis in the 1980s and 1990s, a period marked by the ascendance of global trade and finance. I got hooked on reading, thinking, and talking about the politics of international economic relations in college. Sufficiently hooked, I guess, that I applied to graduate school to try and make it my vocation. My research and teaching to this point have focused on how key political and ideational forces in domestic and world politics – namely, international organizations, shared economic beliefs, social conventions, and material interests – shape the governance of globalized markets and the crafting of countries’ foreign economic policies.
Reading this book in graduate school was revelatory. It was mostly ignored upon publication. But in the subsequent eighty years Hirschman’s insights have become part of the bedrock of my field of international political economy.
The key idea is that countries seeking to enhance and expand their power can use “liberal” commercial strategies to induce economic and political dependency in smaller, weaker partners. It’s dangerous, in other words, to simply assume that more extensive trade and investment flows between countries will engender a more stable, peaceful international system.
Uncontrolled trade can aggravate tensions and facilitate international disorder. Hirschman arrives at a bold idea: surrendering national authority to follow global rules and institutions is the only way to counteract the harmful effects of massive power and wealth inequalities in world politics.
This study begins with a brief survey of economic thought on the relationship between foreign trade and national power, from the Mercantilists on. Chapter II attempts a systematic theoretical approach to the subject. It first makes clear the fundamental basis of the possible use of foreign trade as an instrument of national power policy. Using well-known concepts of economic analysis, it proceeds to show under what conditions and by means of what policies this instrument is likely to attain its highest efficiency. The principles of power policy thus deduced theoretically are then compared with the actual practices followed by German…
We teamed up about fifteen years ago around a common interest in the political economy of North Korea; Haggard is a political scientist, Noland an economist. Both of us had spent our careers focused on Asia but looking largely at the capitalist successes: Japan and the newly industrializing countries of Korea, Taiwan, and Southeast Asia. But what about the anomalous cases in the region that did not get on the growth train? The “Asian miracle” was hardly ubiquitous…what had gone wrong? North Korea was clearly the biggest puzzle, and we ended up researching and writing on the famine, refugees, and the complexities of international sanctions.
For those with some economics background and willing to do their homework, Kim’s book is the state of the art. He has sorted through all the shards of data out there—on prices, output, and trade--and pulled them together into a compelling mosaic. Of particular interest is his discussion of possible transition paths--were the regime to change course--as well as the possibility that the system might come crashing down altogether.
North Korea is one of the most closed and secretive societies in the world. Despite a high level of interest from the outside world, we have very little detailed information about how the country functions economically. In this valuable book for both the academic and policy-making circles, Byung-Yeon Kim offers the most comprehensive and systematic analysis of the present day North Korean economy in the context of economic systems and transition economics. It addresses what is really happening in the North Korean economy, why it has previously failed, and how the country can make the transition to a market economy.…
I am a Chicago-based artist, author, veteran, and teacher. I studied at the American Academy of Art in Chicago before enlisting in the United States Air Force in 1968 during the bloody Tet Offensive during the Vietnam era. Upon my discharge I got my BFA in 1994. I got convicted for a crime I did not commit, and I became a homeless-existential artist on Chicago’s mean streets for six months. I got hired by an Acoustic company, and I married and worked for twenty-seven years while raising a family. I now work as an art teacher. All my nonfiction books chronicle different episodes in my life.
When I was a homeless artist, I stumbled across this brilliant book, and it validated my belief that contrary to what global capitalists believe, free markets outside the West do not spread wealth in the hands of an ‘outsider’ minority but instead generate ethnic envy and hatred among the frustrated, impoverished majorities.
Amy Chua states that billions of poor, exploited, and powerful people around the world (homeless and displaced) watch as the wealthy minority in the United States continues to amass more control, prestige, and tax breaks.
Ironically, Chua points out, although America is viewed “as arrogant, hegemonic and vapidly materialistic, most of the downtrodden would rather be in the U. S. than anywhere else. In 2023, close to 10 million illegal migrants have entered the U.S. via the porous Texas border.
The reigning consensus holds that the combination of free markets and democracy would transform the third world and sweep away the ethnic hatred and religious zealotry associated with underdevelopment. In this revelatory investigation of the true impact of globalization, Yale Law School professor Amy Chua explains why many developing countries are in fact consumed by ethnic violence after adopting free market democracy.
Chua shows how in non-Western countries around the globe, free markets have concentrated starkly disproportionate wealth in the hands of a resented ethnic minority. These “market-dominant minorities” – Chinese in Southeast Asia, Croatians in the former Yugoslavia, whites…
I’m a nerd about all things museums and archives, which I teach and write about. I was trained as an anthropologist, and got really interested in using anthropology’s methods (namely ethnography) to do long-term, embedded, deep-dive fieldwork in bureaucratic settings, like big museums. I love reading books by journalists, economists, historians, and others who do ethnography and really embed themselves in different communities, places, and cultures.
This was the first book I read that was kind of an embedded object biography back when I was an undergraduate student in my second-ever anthropology class. I was totally hooked on the genre. This book follows t-shirts, from where cotton is picked, to where t-shirts are manufactured, printed, sold and distributed, to their disposal—including second lives on the used clothing market. “Who made your t-shirt?” as a great first starting question.
The keys to global business success, as taught by a T-shirt's journey
The Travels of a T-Shirt in the Global Economy is a critically-acclaimed narrative that illuminates the globalization debates and reveals the key factors to success in global business. Tracing a T-shirt's life story from a Texas cotton field to a Chinese factory and back to a U.S. storefront before arriving at the used clothing market in Africa, the book uncovers the political and economic forces at work in the global economy. Along the way, this fascinating exploration addresses a wealth of compelling questions about politics, trade, economics, ethics,…
I am a professor of history at Western University in London, Ontario, Canada. I have written about the history of international organizations, international trade, the British Commonwealth, and Canada in the world. Although these topics have taken me in different directions, I have always examined the political currents that run through them. Politics emerge in relation to ideology, policymaking, leadership, norms, values, interests, identity, international relations, and global governance. I have been especially interested in connecting economics and politics. Many scholars write about trade policies, organizations, and negotiations as though they are technical and narrowly economic when they are agents, instruments, and expressions of international politics.
This book shows how trade has long connected people and societies all over the world, from miners in Potosi, to coffee growers in Yemen, and traders and shippers from Fujian.
Topik and Pomeranz reject a Eurocentric approach to the history of international trade and they put real people back into the story. The engaging vignettes in this collection are not primarily about politics, but they make clear why trade is political and polarizing.
The workings of international trade powerfully affected people’s lives, for better and for worse, and so people reacted strongly to trade, as committed champions and tireless opponents.
The World That Trade Created brings to life the history of trade and its actors. In a series of brief, highly readable vignettes, filled with insights and amazing facts about things we tend to take for granted, the authors uncover the deep historical roots of economic globalization.
Covering over seven hundred years of history, this book, now in its fourth edition, takes the reader around the world from the history of the opium trade to pirates, to the building of corporations and migration to the New World. The chapters are grouped thematically, each featuring an introductory essay designed to synthesize…
One of the oldest questions is: why are some countries rich and some countries poor? Adam Smith famously answered that it was the division of labor (specialization) and trade in his book The Wealth of Nations. The more you study trade, however, the more complicated the answer becomes. I have been grappling with this question since the 1990s, as a student, and I still do not have a simple answer like Adam Smith. However, I think I have come up with a framework to understand how the economic history of the world developed and I have been teaching that global history in college as a professor since the 2010s.
In ReOrient, A.G. Frank argues that this current situation in which the West is at the center of the world is a mere blip in terms of global history. Historically Asia was always the richer part of the globe and once again, in the near future, Asia will be the richest part of the globe again.
Andre Gunder Frank asks us to re-orient our views away from Eurocentrism - to see the rise of the West as a mere blip in what was, and is again becoming, an Asia-centered world. In a bold challenge to received historiography and social theory he turns on its head the world according to Marx, Weber, and other theorists, including Polanyi, Rostow, Braudel, and Wallerstein. Frank explains the Rise of the West in world economic and demographic terms that relate it in a single historical sweep to the decline of the East around 1800. European states, he says, used the silver…
When understanding the interactions in our economy, it is critical to recognize all participants in this complex system. I’m passionate about microeconomics because it provides me with a different perspective to examine the world around me. I use my microeconomic glasses and I enjoy rationalizing the daily interactions and predicting the potential outcomes.
This eBook, developed by faculty members from top institutions, is available for free from the developers’ website, offers several online resources, it's frequently updated, translated to several languages, and has been widely adopted in several countries.
The book includes both the usual topics for courses on introduction to microeconomics and introduction to macroeconomics, using a similar writing style as other introductory textbooks (assumes no mathematical background), thus being accessible to a wide range of students.
Unlike similar books, however, it structures topics differently: instead of presenting chapters according to the main tool or concept being introduced, chapters are presented according to real-world problems.
While this can help motivate each chapter, it may require some adapting from the instructor’s teaching style.
The only introductory economics text to equip students to address today's pressing problems by mastering the conceptual and quantitative tools of contemporary economics.
OUP has partnered with the international collaborative project of CORE researchers and teachers to bring students a book and learning system that complements and enhances CORE's open-access online e-book.
The Economy: - is a new approach that integrates recent developments in economics including contract theory, strategic interaction, behavioural economics and financial instability - Engages with issues students of economics care about, exploring inequality, climate change, economic instability, wealth creation and innovation, among other issues. - provides a…
As a boomer and working-class kid, I experienced living conditions improving rapidly. This sparked my interest in studying international and development economics to explore how we can create a better and more equitable world. As professor of international economics, I have been researching and teaching for many years about what is now known as “globalization”. This taught me two things that inspired me to write my latest book: First, to understand the process and consequences of (de-)globalization, in-depth study is essential to avoid popular misconceptions about the global economy; and, second, globalization needs to be carefully managed to make it work for all people.
This is one of the most influential books on economic globalization written in the last decade, and it will certainly continue to be crucial to understand the future of globalization.
Rodrik’s Globalization Paradox pinpoints the key policy trade-offs in a globalized economy: If policymakers opt for “hyper-globalization” while insisting on national decision-making, they could find their societies in the “golden straitjacket” of global capitalism.
Alternatively, they could give up sovereignty to democratically legitimized “global governance”.
As the latter is difficult to achieve and often unacceptable to national policymakers, Rodrik argues for limiting hyper-globalization.
The existence of a globalization paradox as well as Rodrik’s conclusion, has been hotly discussed, but the ongoing debate only proves the importance of his book.
In this eloquent challenge to the reigning wisdom on globalization, Dani Rodrik reminds us of the importance of the nation-state, arguing forcefully that when the social arrangements of democracies inevitably clash with the international demands of globalization, national priorities should take precedence. Combining history with insight, humor with good-natured critique, Rodrik's case for a customizable globalization supported by a light frame of international rules shows the way to a balanced prosperity as we confront today's global challenges in trade, finance, and labor markets.
My expertise in Caribbean and Chinese affairs derives from having an interest in the two regions since college, which was then pursued through a MA in Asian Studies from the University of London’s School of Oriental and African Studies and Ph.D. in Political Science from the University of Connecticut. On the employment front, I worked for 3 regional banks (as an international economist), the Office of the Comptroller of the Currency, Credit Suisse, Donaldson, Lufkin & Jenrette, KWR International, and Aladdin Capital Management (as head of Credit and Economics Research) and Mitsubishi Corporation. Since I left Mitsubishi I returned to my two favorite interests, Asia and the Caribbean.
Hillman, a senior fellow at the Center for Strategic and International Studies and director of the Reconnecting Asia Project, wrote a very topical book on China’s Bridge and Road Initiative (BRI), calling it “the project of the century.” Indeed, the BRI encompasses a projected $1 trillion in spending on new roads, railways, telecommunications, and other critical infrastructure, aiming to bind together the Eurasian landmass and Africa (key for natural resources) into a trade and investment zone dominated by Beijing. What I found the most noteworthy was the following: “Xi’s vision is constrained by neither geography nor even gravity. Since its announcement, the BRI has stretched into the Arctic, cyberspace, and outer space.”
Hillman readily acknowledges China making mistakes (over-lending to credit-challenged countries in particular) and that going forward Beijing will need greater skill, lower expectations, and a heavy dose of modesty to make it work. For anyone interested in major…
A prominent authority on China's Belt and Road Initiative reveals the global risks lurking within Beijing's project of the century
"A reality check on Beijing's global infrastructure project."-Peter Neville-Hadley, South China Morning Post
"For all the hype and hand-wringing over how the [Belt and Road] could usher in the Chinese century, Hillman's engaging mix of high-level analysis and fieldwork in more than a dozen countries paints a much more nuanced picture."-Keith Johnson, Foreign Policy
China's Belt and Road Initiative is the world's most ambitious and misunderstood geoeconomic vision. To carry out President Xi Jinping's flagship foreign-policy effort, China promises to…
