American Political Economy in Global Perspective

This book is a guide to claims about the proper role of government and markets in a global economy. Moving between systematic comparison of nineteen rich democracies and debate about what the United States can do to restore a more civilized, egalitarian and fair society, Harold L. Wilensky tells us how six of these countries got on a low road to economic progress and which components of their labor-crunch strategy are uniquely American. He provides an overview of the impact of major dimensions of globalization, only one of which – the interaction of the internationalization of finance and the rapid increase in the autonomy of central banks – undermines either national sovereignty or job security, labor standards, and the welfare state. Although Wilensky views American policy and politics through the lens of globalization, he concludes that the nation-state remains the center of personal identity, social solidarity and political action.