American Political Economy in Global Perspective

Harold L. Wilensky provides an overview of the impact of seven major dimensions of globalization. Drawing on lessons from abroad and from America's own past successes, he shows how we can reverse our three-decade decline and restore a more civilized, egalitarian and fair society.

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.