Cover image for Global political economy : evolution and dynamics
Title:
Global political economy : evolution and dynamics
Author:
O'Brien, Robert, 1963- author.
ISBN:
9781137287366

9781137287373
Edition:
4th edition.
Physical Description:
xv, 340 pages ; 25 cm
Contents:
Machine generated contents note: pt. 1 Theoretical Perspectives -- 1. Theories of Global Political Economy -- Understanding the Global Political Economy -- The Economic Nationalist Perspective -- Key actors -- Key dynamics -- Conflict and cooperation -- Economic nationalism today -- The Liberal Perspective -- Key actors -- Key dynamics -- Conflict and cooperation -- Liberalism today -- The Critical Perspective -- Key actors -- Key dynamics -- Conflict and cooperation -- Critical theory today -- Contending Perspectives: A Summary -- Further Reading -- 2. International Political Economy and its Methods -- Locating the Field -- Economics -- Political science -- Political economy -- International relations -- Methodological Issues -- Case studies and large n studies -- Rational choice -- Institutionalism -- Constructivism -- Trends in Contemporary GPE Theory -- Consolidation -- Integration -- Expansion -- Approach of the Book -- Further Reading -- pt. 2 Evolution.

Contents note continued: 3. Forging a World Economy: 1400-1800 -- Regions of the World Economy -- The Middle East -- China -- India -- Africa -- The Americas -- Europe -- European Expansion -- Into the Americas -- Along Africa: the triangular trade -- On the peripheries of Asia -- Conclusion -- Further Reading -- 4. Industry, Empire and War: 1800-1945 -- The Industrial Revolution -- What was the Industrial Revolution? -- Why Britain? Why then? -- What did the others do? -- Pax Britannica -- The gold standard and capital flows -- Free trade -- Balance of power -- Renewed Imperialism -- War and Economic Disorder -- The world wars -- Interwar economic failure -- Conclusion -- Further Reading -- 5. Growing a Global Economy: 1945-2010 -- The Cold War Era: 1945-89 -- The US-led Western political economy -- The communist political economy -- The southern political economy -- The Post-Cold War Era: 1990-2010 -- Competing capitalisms and state transformation -- The information revolution.

Contents note continued: International organizations and governance -- Conclusion -- Further Reading -- pt. 3 Dynamics -- 6. International Trade -- Definitions -- Theoretical Perspectives: Free Trade and Protectionism -- Proponents of free trade -- Critics of free trade -- Major Developments -- Growth and protectionism -- Changing institutional arrangements -- Key Issues -- Developing country interests -- Regional trade agreements -- Legitimacy -- Conclusion -- Further Reading -- 7. Transnational Production -- Definitions -- Theoretical Perspectives: Explaining the Growth of TNCs -- Major Developments -- The globalization of production -- Changing organizational principles -- Key Issues -- Re-evaluating the benefits of FDI -- State-firm interactions -- Regulating capital -- Conclusion -- Further Reading -- 8. The Global Financial System -- Definitions and Background -- Theoretical Perspectives: The Mundell-Fleming Model -- Major Developments.

Contents note continued: IMS: from fixed to floating and regional currencies -- Credit: financial innovation and repeated crises -- Key Issues -- Global credit crisis -- Future of the US dollar -- The European sovereign debt and euro crisis -- Conclusion -- Further Reading -- 9. Global Division of Labour -- Definitions -- Theoretical Perspectives: Adam Smith and his Critics -- Major Developments -- Changes in the production process -- From the new international to the global division of labour -- Key Issues -- Global restructuring: the rise of China and India -- The struggle for workers' rights in a global economy -- The division of labour and global stability -- Conclusion -- Further Reading -- 10. Gender -- Definitions and Background -- Theoretical Perspectives: GPE as if Gender Mattered -- Major Developments -- Women in the world economy: employment trends and prospects -- Gender and global public policy -- Key Issues -- The feminization of poverty.

Contents note continued: Globalization of reproductive work -- Gender and global restructuring -- Conclusion -- Further Reading -- 11. Economic Development -- Definitions -- Theoretical Perspectives on Growth and Development -- Major Developments -- Development and national capitalism, 1947-81 -- Development, neoliberalism and beyond, 1982-2009 -- Key Issues -- The organization of development -- Debt and debt relief -- North-South conflict -- Conclusion -- Further Reading -- 12. Global Environmental Change -- Definitions and Background -- Theoretical Perspectives: IPE and Environmental Studies -- IPE debates -- Environmental studies' debates -- Major Developments -- Bringing the environment in -- Mainstreaming environmentalism -- Key Issues -- Sustainable development -- Trade and environmental degradation -- Climate change negotiations -- Conclusion -- Further Reading -- 13. Ideas -- Definitions -- Theoretical Perspectives: Ideas about Ideas -- Major Developments.

Contents note continued: The information revolution and the information society -- The rise and stall of the Washington Consensus -- Key Issues -- Technological diffusion -- Property rights and life (HIV/AIDS) -- Ideas, interests and the global financial crisis -- Conclusion -- Further Reading -- 14. Security -- Definitions: Three Views of Security -- The traditional state-centric approach -- New security studies -- Human security -- Theoretical Perspectives: Integrating Security and Political Economy -- Major Developments -- The Cold War security structure -- The post-Cold War security structure -- Key Issues -- Economic statecraft and security -- Transnational crime -- Disease, pandemics and security -- Conclusion -- Further Reading -- 15. Governing the Global Political Economy -- Definitions -- Theoretical Perspectives: Whither the State? -- Major Developments -- Proliferation of governance levels -- Proliferation of actors -- The Global Compact.

Contents note continued: Twenty-first-century Challenges -- Development and growth -- Equality and justice -- Democracy and regulation -- Conclusion -- Further Reading.
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Summary

Summary

After a period in which the global economy appeared prosperous and stable, the economic crisis exposed the fragile foundations of the international financial system and has reshaped the landscape of global political economy. The fourth edition of this popular and widely used text takes full account of recent developments, while continuing to provide an accessible and historically grounded introduction to the field.

The authors trace the evolution of the global economy, from its roots in the fifteenth century, through the Industrial Revolution, and to the post-1945 world order. They proceed to explore in detail the dynamics of global political economy in the twenty-first century, providing systematic coverage of the key spheres of activity, from trade, production and finance to social divisions, the environment, development, ideas, security and governance.

Lucid, engaging and authoritative, Global Political Economy introduces an unusually wide range of theoretical approaches, moving beyond a traditional three-paradigm perspective to show how these theories can be applied and how useful they are for understanding key issues and developments.


Table of Contents

List of Boxes, Tables, Figures and Mapsp. x
Preface to the Fourth Editionp. xiii
List of Abbreviationsp. xiv
Introductionp. 1
Part 1 Theoretical Perspectivesp. 5
1 Theories of Global Political Economyp. 7
Understanding the Global Political Economyp. 7
The Economic Nationalist Perspectivep. 9
Key actorsp. 9
Key dynamicsp. 10
Conflict and cooperationp. 11
Economic nationalism todayp. 11
The Liberal Perspectivep. 13
Key actorsp. 14
Key dynamicsp. 14
Conflict and cooperationp. 15
Liberalism todayp. 15
The Critical Perspectivep. 17
Key actorsp. 18
Key dynamicsp. 18
Conflict and cooperationp. 19
Critical theory todayp. 19
Contending Perspectives: A Summaryp. 21
Further Readingp. 22
2 International Political Economy and its Methodsp. 23
Locating the Fieldp. 23
Economicsp. 24
Political sciencep. 25
Political economyp. 25
International relationsp. 26
Methodological Issuesp. 27
Case studies and large n studiesp. 27
Rational choicep. 28
Institutionalismp. 29
Constructivismp. 31
Trends in Contemporary GPE Theoryp. 33
Consolidationp. 33
Integrationp. 34
Expansionp. 35
Approach of the Bookp. 37
Further Readingp. 39
Part 2 Evolutionp. 41
3 Forging a World Economy: 1400-1800p. 43
Regions of the World Economyp. 44
The Middle Eastp. 45
Chinap. 46
Indiap. 47
Africap. 48
The Americasp. 48
Europep. 49
European Expansionp. 54
Into the Americasp. 54
Along Africa: the triangular tradep. 57
On the peripheries of Asiap. 59
Conclusionp. 62
Further Readingp. 66
4 Industry, Empire and War: 1800-1945p. 67
The Industrial Revolutionp. 68
What was the Industrial Revolution?p. 68
Why Britain? Why then?p. 70
What did the others do?p. 72
Pax Britannicap. 72
The gold standard and capital flowsp. 72
Free tradep. 75
Balance of powerp. 75
Renewed Imperialismp. 79
War and Economic Disorderp. 82
The world warsp. 82
Interwar economic failurep. 84
Conclusionp. 87
Further Readingp. 90
5 Growing a Global Economy: 1945-2010p. 91
The Cold War Era: 1945-89p. 91
The US-led Western political economyp. 91
The communist political economyp. 94
The southern political economyp. 94
The Post-Cold War Era: 1990-2010p. 96
Competing capitalisms and state transformationp. 96
The information revolutionp. 99
International organizations and governancep. 101
Conclusionp. 102
Further Readingp. 105
Part 3 Dynamicsp. 107
6 International Tradep. 109
Definitionsp. 109
Theoretical Perspectives: Free Trade and Protectionismp. 111
Proponents of free tradep. 111
Critics of free tradep. 113
Major Developmentsp. 115
Growth and protectionismp. 115
Changing institutional arrangementsp. 119
Key Issuesp. 122
Developing country interestsp. 123
Regional trade agreementsp. 127
Legitimacyp. 129
Conclusionp. 130
Further Readingp. 131
7 Transnational Productionp. 132
Definitionsp. 134
Theoretical Perspectives: Explaining the Growth of TNCsp. 135
Major Developmentsp. 138
The globalization of productionp. 138
Changing organizational principlesp. 142
Key Issuesp. 145
Re-evaluating the benefits of FDIp. 145
State-firm interactionsp. 148
Regulating capitalp. 152
Conclusionp. 152
Further Readingp. 153
8 The Global Financial Systemp. 154
Definitions and Backgroundp. 154
Theoretical Perspectives: The Mundell-Fleming Modelp. 157
Major Developmentsp. 159
IMS: from fixed to floating and regional currenciesp. 159
Credit: financial innovation and repeated crisesp. 163
Key Issuesp. 172
Global credit crisisp. 172
Future of the US dollarp. 174
The European sovereign debt and euro crisisp. 177
Conclusionp. 179
Further Readingp. 181
9 Global Division of Labourp. 182
Definitionsp. 182
Theoretical Perspectives: Adam Smith and his Criticsp. 185
Major Developmentsp. 187
Changes in the production processp. 187
From the new international to the global division of labourp. 188
Key Issuesp. 190
Global restructuring: the rise of China and Indiap. 190
The struggle for workers' rights in a global economyp. 194
The division of labour and global stabilityp. 196
Conclusionp. 199
Further Readingp. 199
10 Genderp. 200
Definitions and Backgroundp. 200
Theoretical Perspectives: GPE as if Gender Matteredp. 202
Major Developmentsp. 205
Women in the world economy: employment trends and prospectsp. 205
Gender and global public policyp. 207
Key Issuesp. 212
The feminization of povertyp. 212
Globalization of reproductive workp. 213
Gender and global restructuringp. 216
Conclusionp. 217
Further Readingp. 218
11 Economic Developmentp. 219
Definitionsp. 221
Theoretical Perspectives on Growth and Developmentp. 224
Major Developmentsp. 229
Development and national capitalism, 1947-81p. 229
Development, neoliberalism and beyond, 1982-2009p. 231
Key Issuesp. 234
The organization of developmentp. 234
Debt and debt reliefp. 237
North-South conflictp. 239
Conclusionp. 241
Further Readingp. 241
12 Global Environmental Changep. 242
Definitions and Backgroundp. 243
Theoretical Perspectives: IPE and Environmental Studiesp. 244
IPE debatesp. 245
ÆEnvironmental studies' debatesp. 247
Major Developmentsp. 249
Bringing the environment inp. 250
Mainstreaming environmentalismp. 252
Key Issuesp. 253
Sustainable developmentp. 253
Trade and environmental degradationp. 256
Climate change negotiationsp. 257
Conclusionp. 259
Further Readingp. 260
13 Ideasp. 261
Definitionsp. 261
Theoretical Perspectives: Ideas about Ideasp. 262
Major Developmentsp. 265
The information revolution and the information societyp. 265
The rise and stall of the Washington Consensusp. 267
Key Issuesp. 270
Technological diffusionp. 270
Property rights and life (HTV/AIDS)p. 271
Ideas, interests and the global financial crisisp. 273
Conclusionp. 276
Further Readingp. 276
14 Securityp. 277
Definitions: Three Views of Securityp. 277
The traditional state-centric approachp. 277
New security studiesp. 278
Human securityp. 279
Theoretical Perspectives: Integrating Security and Political Economyp. 280
Major Developmentsp. 283
The Cold War security structurep. 283
The post-Cold War security structurep. 284
Key Issuesp. 288
Economic statecraft and securityp. 288
Transnational crimep. 291
Disease, pandemics and1 securityp. 292
Conclusionp. 294
Further Readingp. 294
15 Governing the Global Political Economyp. 295
Definitionsp. 295
Theoretical Perspectives: Whither the State?p. 295
Major Developmentsp. 297
Proliferation of governance levelsp. 298
Proliferation of actorsp. 301
The Global Compactp. 304
Twenty-first-century Challengesp. 305
Development and growthp. 305
Equality and justicep. 306
Democracy and regulationp. 309
Conclusionp. 311
Further Readingp. 311
Referencesp. 312
Indexp. 332