The New Regional Economies The US Common Market and the Global Economy [Paperback]

The politics and economics of the United States are wedded in the political economy of the nation state and the nationalist economic policies. This `nationalist paradigm' is, however, showing the following signs of fatigue: the role of the nation state is diminishing as the economy globalizes; US national accounting systems are less effective, technology forces change; trading blocs are emerging; there is less control of exchange rates; regional economies are restructuring; and competitive environments are changing. This book proposes that political jurisdictions are not economies but polities, and explores the complex and important economic implications of this thesis.The politics and economics of the United States are wedded in the political economy of the nation state and the nationalist economic policies. This `nationalist paradigm' is, however, showing the following signs of fatigue: the role of the nation state is diminishing as the economy globalizes; US national accounting systems are less effective, technology forces change; trading blocs are emerging; there is less control of exchange rates; regional economies are restructuring; and competitive environments are changing. This book proposes that political jurisdictions are not economies but polities, and explores the complex and important economic implications of this thesis.Introduction and Overview
The Nation as Economy
Triumph of a Faulty Paradigm
The Economic Region
The Internal Interdependence of Regions
Business Cycles and Local Economies
Economic Federalism and the New Political Economy
The Regional Economic Commons
The Global Commons
Intergovernmental Roles in Economic Policy-Making
Policy and Governance for the Regional Economic Commons
The United States Common Market
Policy and Governance
Afterword
The Challenge and the Opportunity