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There are 1.6 billion Muslims in the world, represented on the world stage by 57 states, as well as a host of international organizations and associations. This book critically examines the engagement of these states in systems of global governance and with a variety of policy regimes, including climate change, energy, migration, humanitarian aid, international financial institutions, research and education. Chapters explore the dynamics of this engagement, the contributions to global order, the interests pursued and some of the contradictions and tensions within the Islamic world, and between that world and the 'West'. An in-depth perspective is provided about the traditional and new forms of multilateralism and the policy spaces formed which provide new opportunities for the Muslim and non-Muslim world alike. Leslie A. Pal is Chancellor's Professor of Public Policy and Administration at the School of Policy and Administration at Carleton University, Canada, and Director of the Centre on Governance and Public Management. M. Evren Tok is an Assistant Professor and Assistant Dean of Innovation and Community Advancement at Hamad Bin Khalifa University, College of Islamic Studies, Qatar. His research focuses on public policy, religion and development, entrepreneurship and community development.--

Rent seeking is often studied with reference to a contemporaneous rent evaluated at a point in time. We study the social cost of rent seeking when rents endure over time, but may have to be re-contested because of imperfect rent protection, or may disappear because of deregulation. The present value of a contested rent measures the social cost of rent seeking, irrespective of imperfect rent protection and the prospect of deregulation. Rent seeking is discouraged by the inability of governments to commit to protect rents and by their inability to commit to rent-generating regulations and policies. Moreover, lasting deregulation can preempt a substantial fraction of the potential rent seeking cost. [Copyright 2008 Elsevier B.V.]

A review essay on a book by Arye L. Hillman, Public Finance and Public Policy: Responsibilities and Limitations of Government (Cambridge, UK: Cambridge U Press, 2003). 2 References.