Articles

The present article brings domestic politics into an analysis on sovereign wealth funds (SWFs) that are relevant for the study of contemporary geopolitics. What are the domestic drivers behind SWF creation, and how does a country’s domestic political environment affect the creation of these funds? Using a comparative historical case study on sovereign funds in Gulf Cooperation Countries, this article investigates the effects of domestic state–society structures on decisions about SWF creation and their evolving structure.

We urge the next president to establish a White House Council of Historical Advisers. Historians made similar recommendations to Presidents Carter and Reagan during their administrations, but nothing ever came of these proposals. Operationally, the Council of Historical Advisers would mirror the Council of Economic Advisers, established after World War II. A chair and two additional members would be appointed by the president to full-time positions, and respond to assignments from him or her. They would be supported by a small professional staff and would be part of the Executive Office of the President.

Indian Prime Minister Narendra Modi traveled to Washington last week, making his fourth trip to the United States since taking office just two years ago. India and South Asia Program Fellow, Ronak Desai examines the strategic approach to India's relations with the United States.

Richard W. Maass and Carla Norrlof respond to Daniel W. Drezner's Summer 2013 International Security article, "Military Primacy Doesn't Pay (Nearly As Much As You Think)."

"It has been nearly thirty years since I received my PhD. At that time, I was convinced that systematic scholarly research could uncover and verify timeless truths about international politics and foreign policy, and that once those discoveries had been made, a grateful policy community would quickly absorb them and adopt the right prescriptions. With the passage of time, I've gained both a greater respect for the limits of what social science can accomplish and a greater appreciation for the imperviousness of the policy community to reasoned discourse, especially in the United States. Even if scholars were able to produce more convincing analyses—itself a debatable proposition—overcoming the entrenched interests that shape what policy makers choose to do is not easy."

Pierpaolo Barbieri, Ernest May Fellow at the Harvard Kennedy School's Belfer Center, says that "big, international banks like Santander and BVA are well diversified. Of the others, quite a few need capital — but how much? That's the unknown and Bankia has undermined faith in financial reporting."

Cell phone use has grown faster in Africa than in any other region of the world since 2003....Of course, South Africa—the most developed nation—still has the highest penetration, but across Africa, countries have leapfrogged technology, bringing innovation and connectivity even to remote parts of the continent, opening up mobile banking and changing the way business is done.

"...[T]he academic study of international affairs will be impoverished if the relevant academic disciplines continue to turn inward, to focus on narrow issues that are primarily of interest only to other scholars, and to become even less interested in communicating to policymakers, the broader public, or the bulk of our students (the vast majority of whom do not want to be social scientists themselves). Accordingly, our goal should be to encourage a diverse, engaged community of scholars that is still committed to a free exchange of ideas and to high standards of both rigor and relevance."

Realist scholars have long debated the question of how much power states need to feel secure. Offensive realists claim that states should constantly seek to increase their power. Defensive realists argue that accumulating too much power can be self-defeating. Proponents of hegemonic stability theory contend that the accumulation of capabilities in one state can exert a stabilizing effect on the system. The three schools describe different points along the power con­tinuum. When a state is weak, accumulating power increases its security. This is approximately the situation described by offensive realists. A state that con­tinues to accumulate capabilities will eventually triggers a balancing reaction that puts its security at risk. This scenario accords with defensive realist as­sumptions. Finally, when the state becomes too powerful to balance, its oppo­nents bandwagon with it, and the state’s security begins to increase again. This is the situation described by hegemonic stability theory. These three stages delineate a modified parabolic relationship between power and secu­rity. As a state moves along the power continuum, its security increases up to a point, then decreases, and finally increases again. This modified parabolic re­lationship allows scholars to synthesize previous realist theories into a single framework.