Globalization and the New Politics of Embedded Liberalism [Paperback]

As the world economy slides into the worst recession since the 1930s, there is fear that hard times will ignite a backlash against free trade policies and globalization more generally. This book explores the political and economic institutional foundations of the bargain of embedded liberalism and the ways domestic institutions shape how governments redistribute the risks and benefits of economic globalization. The author identifies the Anglo-American democracies, because of their majoritarian polities combined with decentralized, competitive economies, as uniquely vulnerable to the contemporary challenges of globalization and the most susceptible to a backlash against it.

Acknowledgements
List of Figures
List of Tables
Part I
1. Economic Globalization and Domestic Politics within the Developed Democracies
2. Government Spending and Public Support for Trade in the OECD
Part II
3. Trade and Employment in Corporatist and Competitive Labor Markets
4. Globalization and Capital Taxation in Consensus and Majoritarian Democracies
Part III
5. Saving Embedded Liberalism in the Anglo-Democracies
6. Conclusion
Notes
References
Index

The theoretical presentation is clear, and the empirical evidence presented is quite convincing. [The book] makes important points about the tensions in today's integrated economies, as well as how they may play out politically. Hays's explicit and careful attention to the logical consistency of his arguments, and his focus on very specific economic and political relationships, make his work particularly trenchant. --Perspectives on Politics

Hays demonstrates persuasively why the two main champions of economic globalization--the United States and United Kingdom--are also the most vulnerable among the industrialized democracies to significant backlash against it: their institutional inability and ideological unwillingness tlƒ.