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.
This volume offers a paradigm shift from the traditional perspective of the nation state as the economy to the concept of a national system of local economic regions, which thrive within a global context of mutuality and interdependence.
Introduction and OverviewThe Nation as Economy Triumph of a Faulty ParadigmThe Economic RegionThe Internal Interdependence of RegionsBusiness Cycles and Local EconomiesEconomic Federalism and the New Political EconomyThe Regional Economic CommonsThe Global CommonsIntergovernmental Roles in Economic Policy-MakingPolicy and Governance for the Regional Economic CommonsThe United States Common Market Policy and GovernanceAfterword The Challenge and the Opportunity