Giovanni Arrighi (JHU): Historical Perspectives on States, Markets and Capitalism, East and West. The first chapter from The Next Great Globalization: How Disadvantaged Nations Can Harness Their Financial Systems to Get Rich by Frederic S. Mishkin. More on Dani Rodrik's One Economics, Many Recipes. Martin Wolf on the challenges for the world’s divided economy. Emerging-market multinationals: Globalisation is creating a new class of companies; they should fight harder for it (and more). Financial forces run amok: Without regulation, the invisible hand of the market is robbing us blind. The unsettling zeitgeist of state capitalism: Jeffrey Garten points up a dangerous trend. From The Wilson Quarterly, Karol Boudreaux and Tyler Cowen on the micromagic of microcredit.