Deborah Welch Larson
Jeffrey Taliaferro's Balancing Risks is a creative synthesis of realism and psychological theory. His case studies on pre-World War I crises, Japan in 1940-41, and the Korean war combine richly detailed historical narrative with psychological insights and geopolitical observations. Through original archival research, he shows that leaders are most likely to choose risky options in a desperate attempt to recover declining prestige, status, or power. Psychological pressures overcome efforts at rational calculation of costs and benefits. Taliaferro uses prospect theory to explain a familiar paradox—foreign policy leaders who are reluctant to undertake bold foreign policy initiatives engage in costly, imprudent interventions in areas of relatively low strategic importance. His findings should be considered by U.S. policymakers who have committed vast resources to intervention in order to avert the possibility of further terrorist attacks.
Steven R. David
Balancing Risks marries international relations theory and psychology to produce a powerful argument that explains why great powers intervene in seemingly unimportant regions. Jeffrey W. Taliaferro makes a convincing case that it is fear of loss rather than hope for gain that drives these interventions. At a time when American intervention in the Third World again dominates the foreign policy of the United States, Taliaferro's views need to be given careful consideration both by scholars and policymakers.
Michael Desch
Why do great powers persist in peripheral interventions? Challenging both offensive realism and domestic coalition theories, Jeffrey W. Taliaferro offers a plausible solution, arguing that prospect theory explains why great powers persist in otherwise counterproductive interventions. This book has much to recommend it: it is historically rich, methodologically well designed, and is well written.
Larry Berman
Balancing Risks offers a cogent analysis bearing on the lessons of great powers initiating military or diplomatic interventions outside of their security interests. Jeffrey W. Taliaferro provides three theories of foreign policy to explain why great powers risk serious consequences by intervening on the periphery. The theoretical argument is strong, the case selection masterful, and the policy implications should be required reading for all students and practitioners.