South America

Capital Choices analyzes the creation of different SWFs from a comparative political economy perspective, arguing that different state-society structures at the sectoral level are the drivers for SWF variation. Juergen Braunstein focuses on the early formation period of SWFs, a critical but little understood area given the high levels of political sensitivity and lack of transparency that surround SWF creation. Braunstein’s novel analytical framework provides practical lessons for the business and finance organizations and policymakers of countries that have created, or are planning to create, SWFs.

Kelly Sims Gallagher asserts that politicians' pledges of dramatic long-term reductions should not let them off the hook for their failure to achieve more modest progress in the short term.

El Salvador this month became the first country to adopt a cryptocurrency, Bitcoin, as legal tender.  One says “the first” as if there will be others.  But the idea is highly dubious.

I will admit, like many economists, that I fail to see what problem cryptocurrencies solve. They aren’t well designed to fulfill any of the classic functions of money — unit of account, store of value, or means of payment – in part because they are so extraordinarily volatile in price.  This volatility is not surprising, since they are backed neither by reserves nor by the reputation of a well-established institution, such as a government or even a private bank or other trusted corporation.

Cryptocurrencies are a baffling entity but adopting it as legal tender is the strangest, most worrying aspect of all.

We are living in an age of mass political participation, and civil resistance has emerged as a mainstay of the many social movements active around the world. On this episode of "Behind the Book", we speak with Erica Chenoweth, Frank Stanton Professor of the First Amendment at Harvard Kennedy School, about their new book, Civil Resistance: What Everyone Needs to Know, which provides a robust introduction to the theory and practice of civil resistance.

Jacqueline Hazelton writes that regimes battling a counterinsurgency often depend on corruption to stay in power.

Modern states recurrently buttress their militaries with legionnaires—soldiers who are neither citizens nor subjects of the governments for which they fight. Legionnaire recruitment is a function of political constraints on a government's ability to enlist citizens and its perceptions of external territorial threats.

Jacqueline L. Hazelton analyzes why the United States fails at counterinsurgency in light of its withdrawal from Afghanistan. She asserts that the belief that democracy is necessary for long-term stability and can flow from the barrel of a gun is rooted in misleading accounts of past counterinsurgency campaigns, such as the Malayan Emergency and the 1948–1954 insurgency in the Philippines.

Joseph Nye offers four reasons why Americans would benefit from a Marshall Plan–like effort to immunize poor countries.

This article reviews the remarkable growth in empirical literature in political science on wartime sexual violence against civilians, including rape, sexual slavery, forced marriage, and other forms.