International Policy Rules and Inequality: Implications for Global Economic Governance (Initiative for Policy Dialogue at Columbia: Challenges in Development and Globalization) - Hardcover

Hardcover

ISBN 10: 0231190840 ISBN 13: 9780231190848

Publisher: Columbia University Press, 2019

Synopsis

Over the past decades, the world has seen a dramatic increase in inequality. To what extent have the rules that govern the global economy, formally or informally, affected this trend? How can global governance arrangements be reformed to counteract them?

In this book, an interdisciplinary group of prominent scholars scrutinizes how the rules of global economic governance―or the lack thereof―determine the extent and growth of inequality. Economists, political scientists, lawyers, and other experienced contributors bring together cutting-edge research on global rule making and inequality, exploring how international rules can exacerbate inequalities among and within countries to show the crucial interactions between policy choices and the distribution of income and wealth. They provide an in-depth examination of the rules governing foreign-investment protection, cross-border financial flows, and intellectual property rights, as well as the lack of standards governing international taxation and the channels through which they might affect inequality. With a focus on ambitious and achievable reforms, this book offers concrete steps toward global economic governance capable of counteracting inequitable wealth distribution and bringing about fairer economic growth.

About this title

About the Author:

José Antonio Ocampo is codirector of Banco de la República, Colombia’s central bank, as well as a professor in the School of International and Public Affairs (on leave for public service) and copresident of the Initiative for Policy Dialogue at Columbia University. He formerly held a number of positions with the United Nations and the government of Colombia. His books with Columbia University Press include Too Little, Too Late: The Quest to Resolve Sovereign Debt Crises (2016) and The Welfare State Revisited (2018).

Review:

Existing structures of global economic governance–institutions and rules embedded in history–are inequitable. Such unfair rules produce unequal outcomes. This bold book, which challenges conventional wisdom, brings together engaging essays at the intersection of economics, politics, and law. It shows how these rules accentuate inequalities between and within countries. And it makes a most valuable contribution by suggesting reforms that are both desirable and feasible. (Deepak Nayyar, Jawaharlal Nehru University, New Delhi)

International Policy Rules and Inequality is a landmark volume. It diagnoses the ways in which present international rules or the lack of them cause increased inequalities within countries, and it proposes practical revisions that can enhance the bargaining power of the less advantaged, restore national sovereignty, and otherwise reverse this tendency. (Sanjay Reddy, the New School)

Income and wealth inequalities are now back in the center of intense public debate on economic issues. Yet there is a gap in the discussion: the link between global structures and national inequalities. This book fills this vacuum admirably. It shows how various international agreements lead to income inequalities not only at the global level but also at the national and local levels. The book will be especially useful for political leaders and policy makers in developing countries, who often do not know the implications of the agreements they sign. It also provides useful suggestions on how to tackle this major problem. (Martin Khor, advisor, Third World Network, and former executive director, South Centre)

About this edition

• Publisher: Columbia University Press
• Publication date: 2019
• ISBN 10: 0231190840
• ISBN 13: 9780231190848
• Binding: Hardcover
• Number of pages: 304
• Editor: Ocampo José Antonio