Books in the Anthem Frontiers of Global Political Economy series

An engaging, important text calling for the reform of economics and pushing for the discipline to become an honest and effective tool for democracy.

Explores the relationship between the environment, human activity and social justice.

Explores the relationship between the environment, human activity and social justice.

This volume examines different facets of international capital movements - the role of openness, the implications of large inflows of foreign capital and the impact of regulatory frameworks - from the point of view of the global South.

China and Sustainable Development in Latin America documents the social and environmental impacts of the China-led commodity boom in Latin America. It also highlights important areas of innovation where governments, communities and investors have worked together to harness the commodity boom for the benefit of the people and the planet.

'National Systems of Innovation' presents a new perspective on the dynamics of the national and the global economy.

Ambitious measures to reduce carbon emissions are all too rare in reality, impeded by economic and political concerns rather than technological advances. In this timely collection of essays, Frank Ackerman and Elizabeth A. Stanton show that the impact of inaction on climate change will be far worse than the cost of ambitious climate policies.

Why do climate and financial crises pose such extreme risks? And what does it take to respond effectively to those risks? Extreme weather events - storms and sea-level rise, heat waves, droughts and floods - seem ever more common and extreme, while scientists warn of even greater climate risks ahead. Financial failures on the scale of 2008 make a mockery of the supposed efficiency of the market economy. None of this would be possible in the world as imagined by conventional economics - an imaginary land of gradualism, equilibrium, well-informed rationality and the win-win solutions dealt by the invisible hand.The erratic rhythm of boom and bust in financial markets could be explained either by the patterns of crowd-following behaviour among investors, or by the unequal distribution of wealth (and the impact of the largest investors on the markets). Climate crises reflect the fact that natural systems can reach tipping points or critical transitions, where gradual change gives way to large-scale discontinuous changes. The economics of climate change has lagged behind the science, understating the severity of the problem and the likelihood of a crash.While the causes of climate and financial extremes are distinct, the implications for public policy have much in common. The frequency of extreme events, of varying sizes, means that there is no way to predict the likely size of future crises. The traditional approach to risk aversion cannot account for longstanding patterns in financial markets. Better theories of risk call for more precautionary approaches to both financial and climate policy. In the frequent cases in which potential outcomes have unknown probabilities, the best policy is based on the worst-case credible scenario. When a single catastrophic risk commands everyone's attention, a World War II-style, costs-be-damned mobilization is the right response. There is no formula for perfect responses to extreme risks, but there are important guideposts that point toward better answers.

'Africa and Economic Policy: Developing a Framework for Policymakers' aims to fill an important gap in the current literature on economic policy in developing countries. Despite its richness and sophistication, the current economic literature has not yet succeeded in developing a framework for economic policy that is clear and intelligible to economic policymakers, and which is capable of effectively delivering a sustained increase in citizens' well-being - something that developing countries' policymakers, particularly those in Africa, are striving for.This ground-breaking study seeks to rectify this problem by suggesting a unique conceptual framework for designing and conducting policy in developing countries, and primarily presents its proposals in an African context. In doing so, the volume addresses one of the major shortcomings of developing country economic policy literature as it now stands.

Military power has long been a serious obstacle to a sustained democracy in Pakistan. The authors investigate the Pakistani military's retrogressive agrarian interventions in the Punjab, and outlines a change, as recognised by society, in the military's rightful function within the economy.Set against the social resentment instigated by the military's agricultural land grabbing, and a burgeoning resistance to the military's overbearing and socially unjust role in Pakistan's economy, this book supplements a larger body of work detailing the military's hand in industrial, commercial, financial and real estate sectors. Any gain in economic autonomy wielded by the military makes it less answerable to civilian oversight, and makes it more likely to act to protect its economic interests.The survival of civilian rule in Pakistan, which is critically important for the foreseeable future, requires a fundamental reordering of the balance of power between state institutions, and between state and society. Pakistan, long encumbered by the military yoke, has witnessed its first peaceful transition from one political administration to another; and in a move congenial to the consolidation of this democratic process, 'The Military and Denied Development in the Pakistani Punjab' exposes the nefarious nature of the military's predation, and signals a move for the military to be contained to its constitutionally mandated role - defence.

Ali Kadri examines how over the last three decades the Arab world has undergone a process of developmental descent, or de-development. He defines de-development as the purposeful deconstruction of developing entities. The Arab world has lost its wars and its society restructured to absorb the terms of defeat masquerading as development policies under neoliberalism. Foremost in this process of de-development are the policies of de-industrialisation that have laid to waste the production of knowledge, created a fully compradorial ruling class that relies on commerce and international finance for its reproduction, as opposed to nationally based production, and halted the primary engine of job creation. The Arab mode of accumulation has come to be based on commerce in a manner similar to that of the pre-capitalist age along with its cultural decay. Kadri attributes the Arab world's developmental failure not only to imperialist hegemony over oil, but also to the rising role of financialisation, which goes hand in hand with the wars of encroachment that were already stripping the Arab world of its resources. War for war's sake has become a tributary to the world economy, argues Kadri, and like oil, there is neither a shortage of war nor a shortage of the conditions to make new war in the Arab world.