Competition in political and economic markets

Prepared as a response to Frey and Eichenberger's Anomalies in Political Economy. We thank Gordon Tullock for helpful discussions. This work was partially supported by the Taylor Experimental Laboratory at Washington University.     

A Partial Revolution: The Diplomatic Ethos and Transparency in Intergovernmental Organizations

The World Trade Organization and other intergovernmental organizations confront a crisis of legitimacy that is partly rooted in their perceived secretiveness. These organizations have attempted to address this crisis by promising "the maximum possible level of transparency," but in fact, the improvements have been modest. Policies regarding access to information about intergovernmental organizations' operations continue to accommodate conventions of diplomatic confidentiality. Such conventions are more likely to be breached in areas where disclosure of information is essential to economic liberalization. A true revolution in transparency would require more rigorous policies on disclosure of information held by intergovernmental organizations such as the World Trade Organization, and could be justified as a prerequisite for the exercise of basic human rights, such as the right to participate fully in the policy-making process.     

Paul D. Cravath, The First World War, and the Anglophile Internationalist Tradition

The First World War played a central role in the creation within the United States of an Atlanticist foreign policy elite or establishment, a group of influential Americans drawn primarily from upper class lawyers, bankers, academics, and politicians of the Eastern seaboard, committed to a strand of Anglophile internationalism which to date has received considerably less scholarly attention than that of Wilsonian universalism. The evolution of the Atlanticist Establishment can be traced in the career of Paul D. Cravath, one of New York's foremost corporation lawyers. For Cravath, in his mid-fifties when the war began, the conflict served as an epiphany, sparking an interest in international affairs that dominated his remaining career. Fiercely Anglophile, he strongly supported American intervention in the war, and hoped that close Anglo-American cooperation would be the guiding principle of post-war international organization. In the 1920s Cravath urged the reduction of both German reparations and inter-allied war debts; he also supported United States membership in the World Court. Before his death in July 1940 Cravath, though initially far from optimistic that his country would once more take arms against Germany in the Second World War, was as staunchly pro-Allied as during the previous conflict.     

Revolutionary challenges to the anarchical society of states

David Armstrong, Revolution and World Order: The Revolutionary State in International Society (Clarendon Press, Oxford, 1993), ix + 328 pp. Index. £37.50.