Can foreign invaders successfully exploit industrial economies? DOES CONQUEST PAY? demonstrates that expansion can, in fact, provide rewards to aggressor nations and suggests that the international system is more war-prone than many optimists claim.

This book provides a historical understanding of current debates over tax reform and offers a comparative framework for discussing the relationship between fiscal policy and the distribution of income and wealth. Topics covered include the evolution of income taxation since World War II; the turn toward value added taxation; the relationship between tax reform and the construction of welfare states; the impact of globalization on tax and fiscal policy; the social forces shaping tax consent; and the political economy of tax and fiscal reform. These topics are covered in case studies that focus on significant episodes in the fiscal history of Denmark, Sweden, France, Greece, the United Kingdom, Spain, Switzerland, the United States, and Japan.

The historical record seen through Offensive Realism presents evidence illustrating that the United States' approach toward the Caspian Sea region between 1991 and 2001 was governed by idealistic principles rather than balance of power considerations. That was led by the false notion that democratic Russia would act in accordance with US goals. The United States denied the competitive nature of international politics, refusing to criticise abuses by Moscow in the region, and failing to intervene when US interests were marginalised. The US failed to prevent Russia from refashioning conditions conducive to the re-absorption of the Caucasus and Central Asia as a sphere of influence; nor did it account for China’s expanded role and trajectory as a challenge to US power. This analysis shows, for example, that Russia’s proximity and willingness to use force exceeded the capabilities of the US’ use of its global predominance to shape regional events.

In a provocative book about American hegemony, Christopher Layne outlines his belief that U.S. foreign policy has been consistent in its aims for more than sixty years and that the current Bush administration clings to mid-twentieth-century tactics--to no good effect. What should the nation's grand strategy look like for the next several decades? The end of the cold war profoundly and permanently altered the international landscape, yet we have seen no parallel change in the aims and shape of U.S. foreign policy. The Peace of Illusions intervenes in the ongoing debate about American grand strategy and the costs and benefits of "American empire." Layne urges the desirability of a strategy he calls "offshore balancing": rather than wield power to dominate other states, the U.S. government should engage in diplomacy to balance large states against one another. The United States should intervene, Layne asserts, only when another state threatens, regionally or locally, to destroy the established balance. Drawing on extensive archival research, Layne traces the form and aims of U.S. foreign policy since 1940, examining alternatives foregone and identifying the strategic aims of different administrations. His offshore-balancing notion, if put into practice with the goal of extending the "American Century," would be a sea change in current strategy. Layne has much to say about present-day governmental decision making, which he examines from the perspectives of both international relations theory and American diplomatic history.