OPEC Oil by Loring AllenReview by: William Diebold Jr.Foreign Affairs, Vol. 59, No. 1 (Fall, 1980), p. 216Published by: Council on Foreign RelationsStable URL: http://www.jstor.org/stable/20040680 .

Accessed: 15/06/2014 09:47

Your use of the JSTOR archive indicates your acceptance of the Terms & Conditions of Use, available at .http://www.jstor.org/page/info/about/policies/terms.jsp

.JSTOR is a not-for-profit service that helps scholars, researchers, and students discover, use, and build upon a wide range ofcontent in a trusted digital archive. We use information technology and tools to increase productivity and facilitate new formsof scholarship. For more information about JSTOR, please contact support@jstor.org.

.

Council on Foreign Relations is collaborating with JSTOR to digitize, preserve and extend access to ForeignAffairs.

http://www.jstor.org

This content downloaded from 62.122.72.159 on Sun, 15 Jun 2014 09:47:51 AMAll use subject to JSTOR Terms and Conditions

216 FOREIGN AFFAIRS

the end of 1974, major demands for changes in the international economic order. It did not get the support of the Western industrial countries on such

key matters as investment and commodity agreements. Professor Meagher

provides a rich and meticulous analysis of the negotiations on these matters

up to 1977. He shows what the main differences are concerning law and

policy, and suggests that the process of "redistribution" will continue.

OPEC OIL. By Loring Allen. Cambridge: Oelgeschlager, Gunn and Hain, 1979, 320 pp. $20.00.

An admirer of "those five spunky little countries . . . who put their heads

together in 1960 to found opec," Professor Allen strikes three main notes as he tells the oil story. There is power?opec acts the way you would expect those

who control the oil to act. There is ability?"opec members are managing the crude oil industry with greater prudence than that exercised in the past by the companies and consumers." There is cooperation?marked within opec

though not necessarily lasting, possible between opec and the consumers if

the consumers see their own long-run interest clearly enough.

WHY THE POOR GET RICH AND THE RICH SLOW DOWN. By W. W. Rostow. Austin: University of Texas Press, 1980, 456 pp. $19.95.

The effort to figure out what is wrong with the world economy has turned

people increasingly to long-cycle theory. Professor Rostow is an old hand in

these matters, as historian and as student of the process of growth, so it is very

helpful to have a collection of his papers dealing with a number of aspects of the subject, including technology, price and the North-South questions.

UNITED STATES TAXATION AND DEVELOPING COUNTRIES. Ed ited by Robert Hellawell. New York: Columbia University Press, 1980, 442

pp. $30.00. There is a great deal of valuable factual material in these papers on how

U.S. taxes relate to those of developing countries and how they compare with

those of other countries. There are some fairly controversial estimates of the

effects of the taxes and helpful reviews of the major proposals for changes.

GLOBAL FOOD INTERDEPENDENCE: CHALLENGE TO AMERICAN FOREIGN POLICY. By Raymond F. Hopkins and Donald J. Puchala. New

York: Columbia University Press, 1980, 250 pp. $20.00 (Paper, $7.50). More leadership by the United States, closer international cooperation and

more use of multilateral agencies, a little more stability in the commercial

market, more food aid and more production of food in developing countries?

these are the key recommendations of the two political scientists who have

provided a valuable and succinct analysis here of problems that are likely to

get worse than they have been in recent years.

PRESIDENTIAL DECISION MAKING: THE ECONOMIC POLICY BOARD. By Roger Porter. New York: Cambridge University Press, 1980, pp. $18.50.

The former Executive Secretary of the Economic Policy Board gives a

detailed, lucid account of how this innovation by the Ford Administration

worked. His analysis, using records and many interviews, focuses largely on

procedure and administrative effectiveness. For many readers the high spots will be the case studies of the 1975 tax proposals, the U.S.-Soviet grain agreement, and the treatment of shoe imports.

This content downloaded from 62.122.72.159 on Sun, 15 Jun 2014 09:47:51 AMAll use subject to JSTOR Terms and Conditions