'Globalisation' is rapidly replacing the 'Cold War' as the most overused and under-specified explanation for a variety of events in international relations. For some, it represents a natural, indeed inexorable, progression towards a 'borderless world' signalling the end of the modern...

The current banking crisis in Japan illustrates two major points. The first is the renewed emphasis on the importance of market-based solutions to policy problems by American policy makers. The second is the broader point, that differences in the structures and operation of capitalism persist in...