Princeton University Press
Global Discord
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About this book
How to sustain an international system of cooperation in the midst of geopolitical struggle
Can the international economic and legal system survive today’s fractured geopolitics? Democracies are facing a drawn-out contest with authoritarian states that is entangling much of public policy with global security issues. In Global Discord, Paul Tucker lays out principles for a sustainable system of international cooperation, showing how democracies can deal with China and other illiberal states without sacrificing their deepest political values. Drawing on three decades as a central banker and regulator, Tucker applies these principles to the international monetary order, including the role of the U.S. dollar, trade and investment regimes, and the financial system.
Combining history, economics, and political and legal philosophy, Tucker offers a new account of international relations. Rejecting intellectual traditions that go back to Hobbes, Kant, and Grotius, and deploying instead ideas from David Hume, Bernard Williams, and modern mechanism-design economists, Tucker describes a new kind of political realism that emphasizes power and interests without sidelining morality. Incentives must be aligned with values if institutions are to endure. The connecting tissue for a system of international cooperation, he writes, should be legitimacy, creating a world of concentric circles in which we cooperate more with those with whom we share the most and whom we fear the least.
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Reviews
A must-read for anyone wanting to understand the various possible trade-offs for 21st-century geoeconomics.
"---T.C.A. Ranganathan, Book Review --- "This is a lovely book."---Jeff Colgan, Richard Holbrooke Associate Professor in the Department of Political Science and Director of the Climate Solutions Lab at the Watson Institute for Public and International Affairs, Brown University --- "The great achievement of this profound and important book is that it offers a way of thinking about international politics that helps us to know what better decisions will look like. It might even assist some of those charged with making such decisions to do a better job. Books like this do not come along very often; when they do, one can only hope they are read as widely as possible."---Paul Sagar, The Critic --- "I learned a lot and can only applaud the breadth of vision and ambition. Bravo."---Kevin Gardiner, Society of Professional Economists --- "A tremendously rich book. One of the most interesting books in terms of how [it] combines[s] various aspects of international politics that I have read for a very long time."---Arne Westad, Yale Professor --- "A true tour de force.
"---Jack Snyder, author of Human Rights for Pragmatists --- "Wide-ranging and erudite."---Diane Coyle, Enlightened Economist --- "We need serious strategic thinking about how the situation is changing and what to do about it. One of the few people earnestly engaged in that project is Paul Tucker."---Juliet Samuel, The Telegraph --- "[Tucker] likens the relationship between America and China to that between Britain and France between 1688 and 1815. . . . The parallel is instructive because it is a reminder that the rivalry is one with which the world is likely to have to live for decades to come.
"---Simon Nixon, The Times --- "The book has extraordinary sweep and breadth of learning. It straddles the line between academic work and rigorous book for generalists. . . . Invigorating."---Krishna Guha, Financial Times --- "[A] fascinating . . . [and] commanding book."---David Westin, Bloomberg Television --- "An extremely important and striking book in many ways. It makes a contribution in terms of political ideas, and so is of interest to students of the history of political thought, but also political economy, international relation, and of course . . . major and important geopolitical policy recommendations and analyses."---Richard Bourke, University of Cambridge --- "An important new book. . . . Global Discord is a must-read for anyone wanting to understand the prospects for 21st-century geopolitics, and possible trade-offs facing the West."---Vic Duggan, Irish Times --- "Keynes famously said that policymakers are distilling the frenzy of past academic scribblers. [Paul Tucker is] the rare policymaker who goes on to become an extraordinary scribbler."---Lawrence H. Summers, Bloomberg Television --- "A book full of clever intellectual maneuvers."---Adrian Wooldridge, Bloomberg --- "I recommend strongly. . . the book both for those . . . studying or thinking about international relations but also for those . . . who are currently or may want in the future to engage in . . . policy."---John Bew, Professor of History and Foreign Policy, King’s College London; and Foreign Policy Advisor to the UK Prime Minister --- "Ambitious and illuminating."---Niall Ferguson --- "This is an important book."---Martin Wolf, Financial TimesTopics
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Frontmatter
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Contents
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Preface to the Paperback Edition
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Preface
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1 Introduction. Geopolitics and Legitimacy in a Globalized World
1 - Part I. History: international order, law, and organizations in a Eurocentric world
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2 A European Order: From Christendom to the League
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3 A Leadership-Based International System Is Built and Adapts: From World War II and Its Horrors to Judicialized International Law, Financial Crisis, and War
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4 Geoeconomics within Geopolitics: China and the West Today, and Scenarios for Tomorrow
107 - Part II. Framework: international institutions, regimes, organizations, and society
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5 International Policy Coordination and Cooperation: Humean Conventions and Norms
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6 Institutions for Cooperation: Equilibria, Regimes, and Organizations
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7 Order, System, and Society: From Self-Enforcing Order to an International Society of Designed Substantive Law?
166 - Part III. Geopolitics with Geoeconomics: order, “civilizational” tensions, and a dislocated international system
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8 Varieties of Order and System: The Contingent Societal Stability of an Institutionalized Hierarchy with American European Roots
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9 Rising Powers, Norms, and Geopolitics: Party-Led China’s Self-Identity and US Political Nativism as Risks to System and Order
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10 Wishful Thinking: Policy Robustness, Resilience, and Legitimacy
235 - Part IV. Legitimacy: values and principles for international order and system
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11 Sovereignty and the Globalization Trilemma: Universalist versus Pluralist International Law and System in a World of Civilizational States
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12 Legitimacy and Legitimation: A Humean-Williamsian Framework
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13 Political Realism in International Relations: Order versus System in a World of Concentric Legitimation Circles
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14 Principles for Constitutional Democracies Legitimately Delegating to International Organizations
337 - Part V. Applications: reforms to the international economic system during shifting geopolitics
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15 Legitimacy for a Fragile International Economic System Facing Fractured Geopolitics
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16 The International Monetary Fund and the International Monetary Order: An Exercise in Excessive Discretion with Missing Regimes?
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17 The World Trade Organization and the System for International Trade: Is Judicialized Universalism Unsustainable Because Illegitimate?
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18 Preferential Trade Pacts and Bilateral Investment Treaties: Security First, or Globalization via Mimesis?
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19 Basel and the International Financial System: Are the Tower’s Denizens Too Powerful?
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20 Conclusions. Global Discord: Between Disagreement and Conflict
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Appendix: Principles for Constitutional Democracies Participating and Delegating in International System
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Acknowledgments
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Bibliography
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Name Index
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Subject Index
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A NOTE ON THE TYPE
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