How has the U.S. government made the nation's foreign economic policy over the last hundred years? Social scientists have traditionally presented the American state as relatively weak, its policies as directly reflecting the domestic balance of strength among interested social groups and economic sectors. This collection of essays by seven notable young political scientists provides a theoretical reevaluation of the forces at work in national policy making and present evidence that the effectiveness of the national government in shaping U.S. policy has been greatly underestimated.

divAs trade flows expanded and trade agreements proliferated after World War II, governments—most notably the United States—came increasingly to use their power over imports and exports to influence the behavior of other countries. But trade is not the only way in which nations interact economically. Over the past two decades, another form of economic exchange has risen to a level of vastly greater significance and political concern: the purchase and sale of financial assets across borders. Nearly $2 trillion worth of currency now moves cross-border every day, roughly 90 percent of which is accounted for by financial flows unrelated to trade in goods and services—a stunning inversion of the figures in 1970. The time is ripe to ask fundamental questions about what Benn Steil and Robert Litan have coined as “financial statecraft,” or those aspects of economic statecraft directed at influencing international capital flows. How precisely has the American government practiced financial statecraft? How effective have these efforts been? And how can they be made more effective? The authors provide penetrating and incisive answers in this timely and stimulating book. /DIV

*Updated edition with a new foreword on the Trump administration's trade policy* The vast benefits promised by the supporters of globalization, and by their own government, have never materialized for many Americans. In Failure to Adjust Edward Alden provides a compelling history of the last four decades of US economic and trade policies that have left too many Americans unable to adapt to or compete in the current global marketplace. He tells the story of what went wrong and how to correct the course. Originally published on the eve of the 2016 presidential election, Alden’s book captured the zeitgeist that would propel Donald J. Trump to the presidency. In a new introduction to the paperback edition, Alden addresses the economic challenges now facing the Trump administration, and warns that economic disruption will continue to be among the most pressing issues facing the United States. If the failure to adjust continues, Alden predicts, the political disruptions of the future will be larger still.

In this sobering analysis of American foreign policy under Trump, the award-winning economist calls for a new approach to international engagement. The American Century began in 1941 and ended in 2017, on the day of President Trump’s inauguration. The subsequent turn toward nationalism and “America first” unilateralism did not made America great. It announced the abdication of our responsibilities in the face of environmental crises, political upheaval, mass migration, and other global challenges. As a result, America no longer dominates geopolitics or the world economy as it once did. In this incisive and passionate book, Jeffrey D. Sachs provides the blueprint for a new foreign policy that embraces global cooperation, international law, and aspirations for worldwide prosperity. He argues that America’s approach to the world must shift from military might and wars of choice to a commitment to shared objectives of sustainable development. A New Foreign Policy explores both the danger of the “America first” mindset and the possibilities for a new way forward, proposing timely and achievable plans to foster global economic growth, reconfigure the United Nations for the twenty-first century, and build a multipolar world that is prosperous, peaceful, fair, and resilient.

"A concise, comprehensive guide to America's critical policy choices at home and overseas . . . without a partisan agenda, but with a passion for solutions designed to restore our country's strength and enable us to lead." -- Madeleine K. Albright A rising China, climate change, terrorism, a nuclear Iran, a turbulent Middle East, and a reckless North Korea all present serious challenges to America's national security. But it depends even more on the United States addressing its burgeoning deficit and debt, crumbling infrastructure, second class schools, and outdated immigration system. While there is currently no great rival power threatening America directly, how long this strategic respite lasts, according to Council on Foreign Relations President Richard N. Haass, will depend largely on whether the United States puts its own house in order. Haass lays out a compelling vision for restoring America's power, influence, and ability to lead the world and advocates for a new foreign policy of Restoration that would require the US to limit its involvement in both wars of choice, and humanitarian interventions. Offering essential insight into our world of continual unrest, this new edition addresses the major foreign and domestic debates since hardcover publication, including US intervention in Syria, the balance between individual privacy and collective security, and the continuing impact of the sequester.

America has a long history of diplomacy–ranging from Benjamin Franklin, Alexander Hamilton, and Thomas Jefferson to Henry Kissinger, Ronald Reagan, and James Baker–now is your chance to see the impact these Americans have had on the world. Recounting the actors and events of U.S. foreign policy, Zoellick identifies five traditions that have emerged from America's encounters with the world: the importance of North America; the special roles trading, transnational, and technological relations play in defining ties with others; changing attitudes toward alliances and ways of ordering connections among states; the need for public support, especially through Congress; and the belief that American policy should serve a larger purpose. These traditions frame a closing review of post-Cold War presidencies, which Zoellick foresees serving as guideposts for the future. Both a sweeping work of history and an insightful guide to U.S. diplomacy past and present, America in the World serves as an informative companion and practical adviser to readers seeking to understand the strategic and immediate challenges of U.S. foreign policy during an era of transformation.