Problematic Sovereignty

-- Daniel Deudney, Johns Hopkins University, coeditor of Contested Grounds: Security and Conflict in the New Environmental Politics.

State sovereignty is the foundation of international relations. This thought-provoking book explores the gap between seeing sovereignty as either absolute or relative. It argues that state sovereignty is both factual and judicial and that the 'loss' of sovereignty exists only at the margins of the international society. With many interesting real-world examples of ambiguous sovereignty examined, this is an important argument against those who are quick to claim that 'sovereignty' is under assault.

Winner of the 2010 Hayek Book Prize given by the Manhattan Institute "Money, Markets and Sovereignty is a surprisingly easy read, given the complicated issues covered. In it, Mr. Steil and Mr. Hinds consistently challenge today's statist nostrums."—Doug Bandow, The Washington Times In this keenly argued book, Benn Steil and Manuel Hinds offer the most powerful defense of economic liberalism since F. A. Hayek published The Road to Serfdom more than sixty years ago. The authors present a fascinating intellectual history of monetary nationalism from the ancient world to the present and explore why, in its modern incarnation, it represents the single greatest threat to globalization. Steil and Hinds describe the current state of international economic relations as both unusual and precarious. Eras of economic protectionism have historically coincided with monetary nationalism, while eras of liberal trade have been accompanied by a universal monetary standard. But today, the authors show, an unprecedentedly liberal global trade regime operates side by side with the most extreme doctrine of monetary nationalism ever contrived—a situation bound to trigger periodic crises. Steil and Hinds call for a revival of the political and economic thinking that underlay earlier great periods of globalization, thinking that is increasingly under threat by more recent ideas about what sovereignty means.

The acceptance of human rights and minority rights, the increasing role of international financial institutions, and globalization have led many observers to question the continued viability of the sovereign state. Here a leading expert challenges this conclusion. Stephen Krasner contends that states have never been as sovereign as some have supposed. Throughout history, rulers have been motivated by a desire to stay in power, not by some abstract adherence to international principles. Organized hypocrisy--the presence of longstanding norms that are frequently violated--has been an enduring attribute of international relations. Political leaders have usually but not always honored international legal sovereignty, the principle that international recognition should be accorded only to juridically independent sovereign states, while treating Westphalian sovereignty, the principle that states have the right to exclude external authority from their own territory, in a much more provisional way. In some instances violations of the principles of sovereignty have been coercive, as in the imposition of minority rights on newly created states after the First World War or the successor states of Yugoslavia after 1990; at other times cooperative, as in the European Human Rights regime or conditionality agreements with the International Monetary Fund. The author looks at various issues areas to make his argument: minority rights, human rights, sovereign lending, and state creation in the nineteenth and twentieth centuries. Differences in national power and interests, he concludes, not international norms, continue to be the most powerful explanation for the behavior of states.

An influential study of political power, originally published in 1917. Laski's theoretical ideas are elaborated through examples drawn from political and religious movements, such as the Catholic Revival and the creation of the German Empire. He concludes that the state is not a supreme entity; it is one association among many that must compete for the people's loyalty and obedience.

An influential study of political power, originally published in 1917. Laski's theoretical ideas are elaborated through examples drawn from political and religious movements, such as the Catholic Revival and the creation of the German Empire. He concludes that the state is not a supreme entity; it is one association among many that must compete for the people's loyalty and obedience.