Debates in International Political Economy
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Debates in International Political Economy organizes writings by leading scholars and practitioners into debates on current global economic issues. Balancing how international controversies are talked about in academic literature and in the news, the diverse topics and selections in this reader broaden knowledge of international political economy and facilitate critical thinking. Debates in International Political Economy not only covers issues of contemporary and conceptual interest but also helps students take a position on economic affairs that affect their lives.
Preface ixPart I International Trade 1Chapter 1 Trade Deficits Reduce Total Jobs v. Trade Deficits Produce Different Jobs 4"The China Trade Toll" Robert E. Scott"The Employment Rationale for Trade Protection" Douglas A. IrwinChapter 2 Retrain Workers v. Redistribute Income 23"Strengthening Trade Adjustment Assistance" Howard F. Rosen"A New Deal for Globalization" Kenneth F. Scheve Matthew J. SlaughterChapter 3 Migration Brings Economic Gains v. Migration Reduces Cultural Cohesion 46"The Case for Immigration" David Goodhart, "Too Diverse?" Philippe LeGrainChapter 4 Free Trade Areas are Stepping Stones v. Free Trade Areas are Stumbling Blocks 65"Free Trade Agreements: Steppingstones to a More Open World" Dan T. Griswold"Why PTAs Are a Pox on the World Trading System" Jagadish BhagwatiChapter 5 The World Trade Organization Undermines Environmental Regulation v. The World Trade Organization Is Greening 92"The WTO's Environmental Impact" Lori Wallach Michelle Sforza"The Greening of the WTO" Michael M. Weinstein Steve CharnovitzPart II Multinational Corporations 121Chapter 6 Sweatshop Regulation is Counterrproductive v. Governments must Regulate Sweatshops 123"In Praise of Cheap Labor: Bad Jobs at Bad Wages Are Better than No Jobs at All" Paul Krugman"Why Economists Are Wrong about Sweatshops and the Antisweatshop Movement" John MillerChapter 7 The Multinational Corporation Race to the Bottom v. The Myth of the Multinational Corporation race to the Bottom 148"Multinational Enterprises and the Prospects for Justice" Debora Spar David Yoffie"Bottom Feeders" Daniel W. DreznerChapter 8 Sovereign Wealth Funds Threaten U.S.Interests V. Sovereign Wealth Funds Do not Threaten U.S. Interests 176"Sovereign Wealth Funds, Oil, and the New World Economic Order" Gal Luft"The Rise of Sovereign Wealth Funds: Impacts on U.S. Foreign Policy and Economic Interests" Edwin M. TrumanPart III International Monetary Issues 201Chapter 9 The Euro Will Supplant The Dollar as the World's Reserve Currency v. The Dollar Will Remain the World's Reserve Currency 203"The Euro's Big Chance" Niall Ferguson"A One-and-a-half Currency System" Benjamin J. Cohen Paola SubacchiChapter 10 China Must Revalue to Correct Global Imbalances v. Chinese Revaluation Will not Correct Global Imbalances 225"The Dollar and the Renminbi" C. Fred Bergsten"Reconsidering Revaluation: The Wrong Approach to the U.S. -Chinese Trade Imbalance" David D. Hale Lyric Hughes HalePart IV Developing Countries in the Global Economy 243Chapter 11 Trade Promotes Growth V. Trade Does not Promote Growth 245"Spreading the Wealth" David Dollar Art Kraay"Trading in Illusions" Dani RodrikChapter 12 Foreign Aid Promotes Development v. Foreign Aid is Ineffective 266"Eyes Wide Open: On the Targeted Use of Foreign Aid" David Dollar"The Cartel of Good Intentions" William EasterlyChapter 13 Close Capital Accounts v. Liberalize Capital Flows 285"A Capital Myth" Jagdish Bhagwati"A Capital Idea" Sebastian EdwardsPart V Globalization and Global Governance 299Chapter 14 The World Trade Organization Lacks Legitimacy v. The World Trade Organization is Legitimate 301"The World Trade Organization's Legitimacy Crisis" Daniel C. Esty"WTO 2002: Imaginary Crisis, Real Problems" David HendersonChapter 15 Governments Must Regulate Multinational Corporations v. Multinational Corporations can Regulate Themselves 343"Needed: A Global Business Code of Conduct" Daniel Litvin"The NGO-Industrial Complex" Gerri Gereffi Ronie Garcia-Johnson Erika SasserChapter 16 Common V. New Regulations for International Finance 360"The New International Financial Architecture Requires Better Governance" Stijn Claessens"Not a New Bretton Woods but a New Bretton Woods Process" Barry EichengreenCredits 371
