Human rights offer a vision of international justice that today’s idealistic millions hold dear. Yet the very concept on which the movement is based became familiar only a few decades ago when it profoundly reshaped our hopes for an improved humanity. In this pioneering book, Samuel Moyn elevates that extraordinary transformation to center stage and asks what it reveals about the ideal’s troubled present and uncertain future. For some, human rights stretch back to the dawn of Western civilization, the age of the American and French Revolutions, or the post–World War II moment when the Universal Declaration of Human Rights was framed. Revisiting these episodes in a dramatic tour of humanity’s moral history, The Last Utopia shows that it was in the decade after 1968 that human rights began to make sense to broad communities of people as the proper cause of justice. Across eastern and western Europe, as well as throughout the United States and Latin America, human rights crystallized in a few short years as social activism and political rhetoric moved it from the hallways of the United Nations to the global forefront. It was on the ruins of earlier political utopias, Moyn argues, that human rights achieved contemporary prominence. The morality of individual rights substituted for the soiled political dreams of revolutionary communism and nationalism as international law became an alternative to popular struggle and bloody violence. But as the ideal of human rights enters into rival political agendas, it requires more vigilance and scrutiny than when it became the watchword of our hopes.

We are now in the era of the G8, although the G7 still exists as a grouping for Finance Ministers. Why do G7 finance ministries and central banks co-operate? What are the implications of this co-operation for US power and the abilities of the other six states to exercise leadership? What role do the G7 play in global financial governance? How much authority do they possess and how is that authority exercised? This is the first major monograph on the political economy of G7 finance ministry and central bank co-operation. It argues that to understand the contribution of the G7 to global financial governance it is necessary to locate the process in the context of a wider world financial order comprised of decentralized globalization. It also provides original case study material on the G7’s contribution to macroeconomic governance and to debates on the global financial architecture over the last decade. It assesses the G7’s role in producing a system of global financial governance based on market supremacy and technocratic transgovernmental consensus and articulates normative criticisms of the G7’s exclusivity. For researchers in the fields of IR/IPE generally, postgraduate students in the field of international organization and global governance, policy makers and financial journalists this is the most extensive analysis of the G7 and the political economy of global financial governance to date.