Books by Ethan B. Kapstein

The US government has long sought investment opportunities for US companies in developing countries. But the results have been mixed: firms have preferred to invest in the industrial world and developing-world leaders have not always welcomed foreign investment. Violence and the presence of natural resources have also hindered foreign development.

The recent backlash against democracy in such countries as Bolivia, Venezuela, Russia, and Georgia poses renewed concerns about the viability of this regime type in the developing world. Drawing on a unique data set of every democratization episode since 1960, this book explores the underlying reasons for backsliding and reversal in the world's fledgling democracies and offers some proposals with respect to what the international community might do to help these states stay on track toward political stability. Rejecting earlier scholarship on this topic, Kapstein and Converse argue that the core of the problem is found in the weak institutions that have been built in much of the developing world, which encourage leaders to abuse their power. Understanding the underlying reasons for democratic failure is essential if we are to offer policy recommendations that have any hope of making a difference on the ground.

Recent years have seen a growing number of activists, scholars, and even policymakers claiming that the global economy is unfair and unjust, particularly to developing countries and the poor within them. But what would a fair or just global economy look like? Economic Justice in an Unfair World seeks to answer that question by presenting a bold and provocative argument that emphasizes economic relations among states.The book provides a market-oriented focus, arguing that a just international economy would be one that is inclusive, participatory, and welfare-enhancing for all states. Rejecting radical redistribution schemes between rich and poor, Ethan Kapstein asserts that a politically feasible approach to international economic justice would emphasize free trade and limited flows of foreign assistance in order to help countries exercise their comparative advantage.Kapstein also addresses justice in labor, migration, and investment, in each case defending an approach that concentrates on nation-states and their unique social compacts. Clearly written for all those with a stake in contemporary debates over poverty reduction and development, the book provides a breakthrough analysis of what the international community can reasonably do to build a global economy that works to the advantage of every nation.

No area has become more global in its operations, more volatile, and thus more difficult to monitor and control than international banking. International banker and political economist Kapstein explores government action to cope with the economic and political consequences associated with the globalization of international finance.