In This Review

National Management Of The International Economy
National Management Of The International Economy
By M. Paníc
St. Martin's, 1988, 382 pp

"Growing global economic interdependence turns national problems into international problems-yet each country is left to deal with them in isolation, as best it can." Around this theme is woven a rich and suggestive discussion of how interdependence develops, why it is more difficult for national economies to adjust to change than in the past, and what kinds of policy measures are and are not effective and acceptable in the contemporary world. Clearly written chapters combine economic theory, empirical data and political and psychological judgments. At the end there is a prescription for arrangements that will create "adequate safeguards against the undesirable consequences of international integration" but permit integration to continue; it is not altogether persuasive. The author, a British economist of Yugoslav origin now at Cambridge, has worked in the government, the Bank of England and private industry.