Debates in International Political Economy

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.

PART I. INTERNATIONAL TRADE

Chapter 1. Trade Deficits Reduce Total Jobs v. Trade Deficits Produce Different Jobs

Robert E. Scott, “The China Trade Toll”

Douglas A. Irwin, “The Employment Rationale for Trade Protection”

Chapter 2. Retrain Workers v. Redistribute Income
Howard F. Rosen, “Strengthening Trade Adjustment Assistance”

Kenneth F. Scheve and Matthew J. Slaughter, “A New Deal for Globalization”

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

Philippe LeGrain, “The Case for Immigration”

Samuel P. Huntington, “The Hispanic Challenge”

Chapter 4. Free Trade Areas Are Stepping Stones v. Free Trade Areas Are Stumbling Blocks

Dan T. Griswold, “Free Trade Agreements: Steppingstones to a More Open World”

Jagdish Bhagwati, “Termites in the Trading System: How Preferential Agreements Undermine Free Trade”

Chapter 5. The WTO Undermines Environmental Regulation v. The WTO Is Greening

Lori Wallach and Michell Sforza, “The WTO’s Environmental Impact”

Michael M. Weinstein and Steve Charnovitz, “The Greening of the WTO”

PART II. MULTINATIONAL CORPORATIONS

Chapter 6. Sweatshop Regulation Is Counterproductive v. Governments Must Regulate Sweatshops

Paul Krugman, “In Praise of Cheap Labor: Bad Jobs at Bad Wages are Better than No Jobs at All”

John Miller, “Why Economists Are Wrong About Sweatshops and the Anti-Sweatshop Movement”

Chapter 7. The MNC Race to the Bottom v. The Myth of the MNC Race to the Bottom

Debora Spar and David Yoffie, “Multinational Enterprises and the Prospects for Justice”

Daniel W. Drezner, “Bottom Feeders”

Chapter 8. Sovereign Wealth Funds Threaten U.S. Interests v. Sovereign Wealth Funds Do Not Threaten U.S. Interests

Gal Luft, “Sovereign Wealth Funds, Oil, and the New World Economic Order”

Edwin M. Truman, “The Rise of Sovereign Wealth Funds: Impacts on US Foreign Policy and Economic Interests”

PART III. INTERNATIONAL MONETARY ISSUES

Chapter 9. The Dollar v. The Euro

Niall Ferguson, “The Euro’s Big Chance”

Benjamin J. Cohen and Paola Subacchi, “A One-and-a-half Currency System”

Chapter 10: China Must Revalue v. Chinese Revaluation Is Wrong

C. Fred Bergsten, “The Dollar and the Renminbi”

David D. Hale and Lyric Hughes Hale, “Reconsidering Revaluation: The Wrong Approach to the U.S.-Chinese Trade Imbalance”

PART IV. DEVELOPING COUNTRIES

Chapter 11. Trade Promotes Growth v. Trade Does Not Promote Growth

David Dollar and Aart Kraay, “Spreading the Wealth”

Dani Rodrik, “Trading in Illusions”

Chapter 12. Foreign Aid Promotes Development v. Foreign Aid is Ineffective

David Dollar, “Eyes Wide Open: On the Targeted Use of Foreign Aid”

William Easterly, “The Cartel of Good Intentions”

Chapter 13. Close Capital Accounts v. Liberalize Capital Flows

Jagdish Bhagwati, “A Capital Myth”

Sebastian Edwards, “A Capital Idea”

PART V. GLOBALIZATION AND GLOBAL GOVERNANCE

Chapter 14. The WTO Lacks Legitimacy v. The WTO Is Legitimate

Daniel C. Esty, “The World Trade Organization’s Legitimacy Crisis”

David Henderson, “WTO 2002: Imaginary Crisis, Real Problems”

Chapter 15. Governments Must Regulate MNCs v. MNCs Can Regulate Themselves

Daniel Litvin, “Needed: A Global Business Code of Conduct”

Gerri Gereffi, Ronie Garcia-Johnson, and Erika Sasser, “The NGO-Industrial Complex”

Chapter 16. Common v. New Regulations for International Finance

Stijn Claessens, “The New International Financial Architecture Requires Better Governance”

Barry Eichengreen, “Not a New Bretton Woods but a New Bretton Woods Process”