Many years ago, John Gerard Ruggie coined the phrase ’embedded liberalism’ to describe the grand post-1945 political compromise between free-market liberalism and domestic political interventionism that stabilized the multilateral economic order. In Global Liberalism and Political Order, leading scholars of political economy and international relations assess the challenges facing today’s increasingly interdependent world as globalization redefines the old political order. They address the unraveling and/or reinvention of a grand compromise in global governance from a variety of theoretical perspectives and issue areas, including trade, finance, networked governance, North-South relations, and the environment. Focusing on the foundations of political authority at the global level, the contributors imagine the implications of success or failure for international economic order and political stability. Ruggie, whose work inspired many of this book’s scholars, contributes a chapter on the prospects for a new global—as opposed to international—grand bargain.
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Preface
Acknowledgments
PART I The Challenge of Crafting a New Grand Compromise
1. Introduction: Power, Social Purposes, and Legitimacy in Global Governance
Steven Bernstein
2. Global Markets and Global Governance: The Prospects for Convergence
John Gerard Ruggie
PART II Power and Authority in Global Governance
3. Would Citizens Support a New Grand Compromise?
Robert Wolfe and Matthew Mendelsohn
4. The Politics of International Development: Approaching a New Grand Compromise?
Jean-Philippe Thérien
5. The United Nations in a Changing Global Economy
Louis W. Pauly
6. Compromises of Embedded Knowledge: Standards, Codes, and Technical Authority in Global Governance
Tony Porter
PART III Integration and Fragmentation in Global Governance
7. Big Judgments, Elusive Phenomena, and Nuanced Analysis: Assessing Where the World Is Headed
James N. Rosenau
8. Currency Blocs and the Future of Embedded Liberalism
Eric Helleiner
9. Institutional Fragmentation and Normative Compromise in Global Environmental Governance: What Prospects for Re-Embedding?
Steven Bernstein and Maria Ivanova
Works Cited
Contributors
Index
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Steven Bernstein is Associate Professor of Political Science at the University of Toronto and the author of
The Compromise of Liberal Environmentalism.
Louis W. Pauly is Canada Research Chair in Globalization and Governance and Professor of Political Science at the University of Toronto. He is the author and editor of many books, including
Complex Sovereignty: Reconstituting Political Authority in the Twenty-First Century (coedited with Edgar Grande).
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