Rules for the global economy - Siebert, Horst 1938-2009 (Princeton University Press, 2009)
Includes bibliographical references (pages 249-262) and index
I. The concept of a world economic order -- II. Globalization and its impact on the international rule system -- III. How rules are established -- IV. How rules are stabilized -- V. Rules for international product markets -- VI. Rules for border-crossing factor movements -- VII. Rules for the global environment -- VIII. Preventing financial instability -- IX. Avoiding currency crises -- X. Ethical norms, human rights, fairness. and legitimacy : restraints for the international rule system -- XI. Interdependence of orders, structure of the rule system, and institutional fit -- XII. Major challenges to the rule system in the future
Rules for the Global Economy is a timely examination of the conditions under which international rules of globalization come into existence, enabling world economic and financial systems to function and stabilize. Horst Siebert, a leading figure in international economics, explains that these institutional arrangements, such as the ones that govern banking, emerge when countries fail to solve economic problems on their own and cede part of their sovereignty to an international order. Siebert demonstrates that the rules result from a trial-and-error process--and usually after a crisis--in order