States versus Markets shows that globalization is not a novel phenomenon but a
recurrent process whereby markets have, since the sixteenth century, periodically
redistributed economic activity.
This revised and updated new edition takes account of the new rise of Asia and the
global financial crisis originating in the US housing finance system.
Table of Contents
List of Tables viii
List of Figures ix
List of Abbreviations x
Preface xi
Introduction 1
Part I States, Agriculture, and Globalization
1 The Rise of the Modern State: From Street Gangs to Mafias 11
2 States, Markets, and the Origins of International Inequality 43
3 Economic and Hegemonic Cycles 64
4 The Industrial Revolution and Late Development 79
5 Agricultural Exporters and the Search for Labor 103
6 Agriculture-Led Growth and Crisis in the Periphery: Ricardian Success, Ricardian
Failure 123
7 The Collapse of the Nineteenth-Century Economy: The Erosion of Hegemony? 147
Part II The Fall and Rise and Fall Again of Globalization
8 The Depression, US Domestic Politics, and the Foundation of the Post-World War II
System 177
9 International Money, Capital Flows, and Domestic Politics 198
10 Transnational Firms: A War of All against All 219
11 Industrialization in the Old Agricultural Periphery: The Rise of the Newly
Industrialized Countries 236
12 Trade, Protection, and Renewed Globalization 263
13 US Hegemony: Declining from Below? 282
14 US Hegemony and Global Stability: Reviving or Declining from the Top Down? 302
Bibliography 323
Index 339
368 pages, Paperback