Debates in International Political Economy » (New Edition)

Thomas Oatley is Associate Professor of Political Science at the University of North Carolina at Chapel Hill.

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 ix

Part I International Trade 1

Chapter 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. Irwin

Chapter 2 Retrain Workers v. Redistribute Income 23

"Strengthening Trade Adjustment Assistance" Howard F. Rosen

"A New Deal for Globalization" Kenneth F. Scheve Matthew J. Slaughter

Chapter 3 Migration Brings Economic Gains v. Migration Reduces Cultural Cohesion 46

"The Case for Immigration" David Goodhart, "Too Diverse?" Philippe LeGrain

Chapter 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 Bhagwati

Chapter 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 Charnovitz

Part II Multinational Corporations 121

Chapter 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 Miller

Chapter 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. Drezner

Chapter 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. Truman

Part III International Monetary Issues 201

Chapter 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 Subacchi

Chapter 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 Hale

Part IV Developing Countries in the Global Economy 243

Chapter 11 Trade Promotes Growth V. Trade Does not Promote Growth 245

"Spreading the Wealth" David Dollar Art Kraay

"Trading in Illusions" Dani Rodrik

Chapter 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 Easterly

Chapter 13 Close Capital Accounts v. Liberalize Capital Flows 285

"A Capital Myth" Jagdish Bhagwati

"A Capital Idea" Sebastian Edwards

Part V Globalization and Global Governance 299

Chapter 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 Henderson

Chapter 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 Sasser

Chapter 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 Eichengreen

Credits 371