Golden Rule

The Investment Theory of Party Competition and the Logic of Money-Driven Political Systems

Author: Thomas Ferguson

Publisher: University of Chicago Press

ISBN:

Category: Political Science

Page: 440

View: 634

"To discover who rules, follow the gold." This is the argument of Golden Rule, a provocative, pungent history of modern American politics. Although the role big money plays in defining political outcomes has long been obvious to ordinary Americans, most pundits and scholars have virtually dismissed this assumption. Even in light of skyrocketing campaign costs, the belief that major financial interests primarily determine who parties nominate and where they stand on the issues—that, in effect, Democrats and Republicans are merely the left and right wings of the "Property Party"—has been ignored by most political scientists. Offering evidence ranging from the nineteenth century to the 1994 mid-term elections, Golden Rule shows that voters are "right on the money." Thomas Ferguson breaks completely with traditional voter centered accounts of party politics. In its place he outlines an "investment approach," in which powerful investors, not unorganized voters, dominate campaigns and elections. Because businesses "invest" in political parties and their candidates, changes in industrial structures—between large firms and sectors—can alter the agenda of party politics and the shape of public policy. Golden Rule presents revised versions of widely read essays in which Ferguson advanced and tested his theory, including his seminal study of the role played by capital intensive multinationals and international financiers in the New Deal. The chapter "Studies in Money Driven Politics" brings this aspect of American politics into better focus, along with other studies of Federal Reserve policy making and campaign finance in the 1936 election. Ferguson analyzes how a changing world economy and other social developments broke up the New Deal system in our own time, through careful studies of the 1988 and 1992 elections. The essay on 1992 contains an extended analysis of the emergence of the Clinton coalition and Ross Perot's dramatic independent insurgency. A postscript on the 1994 elections demonstrates the controlling impact of money on several key campaigns. This controversial work by a theorist of money and politics in the U.S. relates to issues in campaign finance reform, PACs, policymaking, public financing, and how today's elections work.

Monetary Economies of Production

Banking and Financial Circuits and the Role of the State

Author: Louis-Philippe Rochon

Publisher: Edward Elgar Publishing

ISBN:

Category: Business & Economics

Page: 304

View: 331

With its central focus on money and its link with the production sphere, this book explores how best to adapt the fundamental ideas of the circulationist perspective to achieve a better understanding of the financialisation of the productive apparatus

Issues in American Politics

Polarized politics in the age of Obama

Author: John Dumbrell

Publisher: Routledge

ISBN:

Category: Political Science

Page: 196

View: 942

This wide ranging book provides readers with a reliable and lively guide to contemporary American political practices, processes and institutions. Essays in the proposed volume will cover phenomena such as the Tea Party upsurge in the Republican Party, Obama’s health care reforms, recent changes to campaign funding emanating from the key Citizens’ United Supreme Court decision, US foreign policy after the War on Terror, Obama's presidential strategy and issues relating to polarisation and partisanship in US politics. This work is essential reading for all students of American Politics and US Foreign Policy.

Ruling Capital

Emerging Markets and the Reregulation of Cross-Border Finance

Author: Kevin P. Gallagher

Publisher: Cornell University Press

ISBN:

Category: Political Science

Page: 232

View: 865

In Ruling Capital, Kevin P. Gallagher demonstrates how several emerging market and developing countries (EMDs) managed to reregulate cross-border financial flows in the wake of the global financial crisis, despite the political and economic difficulty of doing so at the national level. Gallagher also shows that some EMDs, particularly the BRICS coalition, were able to maintain or expand their sovereignty to regulate cross-border finance under global economic governance institutions. Gallagher combines econometric analysis with in-depth interviews with officials and interest groups in select emerging markets and policymakers at the International Monetary Fund, the World Trade Organization, and the G-20 to explain key characteristics of the global economy. Gallagher develops a theory of countervailing monetary power that shows how emerging markets can counter domestic and international opposition to the regulation of cross-border finance. Although many countries were able to exert countervailing monetary power in the wake of the crisis, such power was not sufficient to stem the magnitude of unstable financial flows that continue to plague the world economy. Drawing on this theory, Gallagher outlines the significant opportunities and obstacles to regulating cross-border finance in the twenty-first century.

Trading blows

party competition and U.S. trade policy in a globalizing era

Author: James Shoch

Publisher: The University of North Carolina Press

ISBN:

Category: Business & Economics

Page: 388

View: 377

For the past two decades, trade policy has been high on the American political agenda, thanks to the growing integration of the United States into the global economy and the wealth of debate this development has sparked. Although scholars have explored many aspects of U.S. trade policy, there has been little study of the role played by party politics. With Trading Blows, James Shoch fills that gap. Shoch offers detailed case studies of almost all of the major trade issues of the Reagan, Bush, and Clinton eras, including administrative and legislative efforts to curb auto, steel, and other imports and to open up markets in Japan and elsewhere, as well as free-trade initiatives such as the North American Free Trade Agreement (NAFTA), the General Agreement on Tariffs and Trade (GATT) treaty that concluded the Uruguay Round of international trade talks, the extension of presidential fast-track trade negotiating authority, and the approval of permanent normal trade relations with China. In so doing, he explains the complex patterns of party competition over U.S. trade policy since 1980 and demonstrates the significant impact that party politics has had on the nation's recent trade policy decisions.

America, History and Life

Author: Eric H. Boehm

Publisher:

ISBN:

Category: United States

Page:

View: 754

Provides historical coverage of the United States and Canada from prehistory to the present. Includes information abstracted from over 2,000 journals published worldwide.