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David Victor of the Council of Foreign Relations explains why the energy crisis occurred, how it links to food issues, and what is required of governments. He argues that the reasons for high food prices cannot be fully understood without looking at changes in the energy market. Figures. Adapted from the source document.

Arild Underdal's "law of the least ambitious program" is properly pessimistic about the prospects for cooperation in the international system where nations must give their consent to be bound by meaningful commitments. Those pessimistic expectations are now being revealed in the collective efforts to address the problem of climate change, notably through the Kyoto Protocol. Over-coming Underdal's law requires narrowing the numbers of countries that participate in key climate agreements and tailoring membership so that just the most important countries are engaged and there are strong incentives to avoid defection. At the same time, the effectiveness of cooperative efforts would gain from fuller use of nonbinding instruments, review procedures and high level conferences—as were put to effective use in the North Sea cooperation, for example— in addition to legally binding international law through instruments such as the Kyoto Protocol. Sadly, most of the conventional wisdom runs the opposite direction, favoring binding treaties among large numbers of countries.

Arild Underdal's "law of the least ambitious program" is properly pessimistic about the prospects for cooperation in the international system where nations must give their consent to be bound by meaningful commitments. Those pessimistic expectations are now being revealed in the collective efforts to address the problem of climate change, notably through the Kyoto Protocol. Over-coming Underdal's law requires narrowing the numbers of countries that participate in key climate agreements & tailoring membership so that just the most important countries are engaged & there are strong incentives to avoid defection. At the same time, the effectiveness of cooperative efforts would gain from fuller use of nonbinding instruments, review procedures & high level conferences -- as were put to effective use in the North Sea cooperation, for example -- in addition to legally binding international law through instruments such as the Kyoto Protocol. Sadly, most of the conventional wisdom runs the opposite direction, favoring binding treaties among large numbers of countries. Figures, References. Adapted from the source document.

Cover -- Title page -- Copyright page -- Contents -- Figures and tables -- Figures -- Tables -- Preface -- 1 A turn toward markets? -- The inconvenient problems of politics -- A theory of politics -- The evidence -- A roadmap -- 2 Ambition -- Why politicians prefer regulation -- Why real-world institutions constrain policy choices -- The logic of Potemkin markets -- Conclusion -- 3 Coverage and allocation -- Which sectors get covered -- Why sectors are treated differently -- Conclusion -- 4 Revenue and spending -- Why politics favor green spending -- Why green spending becomes green pork -- Conclusion -- 5 Offsets -- Why quality lacks a constituency -- Why knife-edge incentives encourage low quality -- Why political forces favor local offsets -- Why offsets entrench rather than expand markets -- Conclusion -- 6 Market links -- Why links are rare, thin, and between similar systems -- Why political actors overpromise the value of market links -- Conclusion -- 7 Getting the most out of markets -- How to increase program ambition -- How to make spending more effective -- How to make external relations work -- 8 Rightsizing markets and industrial policy -- Toward a new industrial policy -- Decarbonization as an international strategy -- Rethinking leadership -- Conclusion -- 9 Conclusion -- Doing better -- The road ahead -- Notes -- Chapter 1 A turn toward markets? -- Chapter 2 Ambition -- Chapter 3 Coverage and allocation -- Chapter 4 Revenue and spending -- Chapter 5 Offsets -- Chapter 6 Market links -- Chapter 7 Getting the most out of markets -- Chapter 8 Rightsizing markets and industrial policy -- Index -- EULA.

Introduction / Gabriela Inchauste and David G. Victor -- The Dominican Republic: from generalized to targeted subsidies / Andrea Gallina, Gabriela Inchauste, Pavel Isa, Catherine Lee, Miguel Sánchez -- Ghana: lessons learned, new strategies / Sheila Addo, Morgan Bazilian, Samuel Oguah -- Indonesia: pricing reforms, social assistance, and the importance of perceptions / Christopher Beaton, Lucky Lontoh, Matthew Wai-Poi -- Jordan: reform amid turmoil / Gabriela Inchauste, Yusuf Mansur, Umar Serajuddin