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Library | Material Type | Item Barcode | Call Number | Shelf Location | Status | Item Holds |
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Searching... | Book | 0327484 | HF1359 .O26 2013 | Central Campus Library | Searching... | Searching... |
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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 Maps | p. x |
Preface to the Fourth Edition | p. xiii |
List of Abbreviations | p. xiv |
Introduction | p. 1 |
Part 1 Theoretical Perspectives | p. 5 |
1 Theories of Global Political Economy | p. 7 |
Understanding the Global Political Economy | p. 7 |
The Economic Nationalist Perspective | p. 9 |
Key actors | p. 9 |
Key dynamics | p. 10 |
Conflict and cooperation | p. 11 |
Economic nationalism today | p. 11 |
The Liberal Perspective | p. 13 |
Key actors | p. 14 |
Key dynamics | p. 14 |
Conflict and cooperation | p. 15 |
Liberalism today | p. 15 |
The Critical Perspective | p. 17 |
Key actors | p. 18 |
Key dynamics | p. 18 |
Conflict and cooperation | p. 19 |
Critical theory today | p. 19 |
Contending Perspectives: A Summary | p. 21 |
Further Reading | p. 22 |
2 International Political Economy and its Methods | p. 23 |
Locating the Field | p. 23 |
Economics | p. 24 |
Political science | p. 25 |
Political economy | p. 25 |
International relations | p. 26 |
Methodological Issues | p. 27 |
Case studies and large n studies | p. 27 |
Rational choice | p. 28 |
Institutionalism | p. 29 |
Constructivism | p. 31 |
Trends in Contemporary GPE Theory | p. 33 |
Consolidation | p. 33 |
Integration | p. 34 |
Expansion | p. 35 |
Approach of the Book | p. 37 |
Further Reading | p. 39 |
Part 2 Evolution | p. 41 |
3 Forging a World Economy: 1400-1800 | p. 43 |
Regions of the World Economy | p. 44 |
The Middle East | p. 45 |
China | p. 46 |
India | p. 47 |
Africa | p. 48 |
The Americas | p. 48 |
Europe | p. 49 |
European Expansion | p. 54 |
Into the Americas | p. 54 |
Along Africa: the triangular trade | p. 57 |
On the peripheries of Asia | p. 59 |
Conclusion | p. 62 |
Further Reading | p. 66 |
4 Industry, Empire and War: 1800-1945 | p. 67 |
The Industrial Revolution | p. 68 |
What was the Industrial Revolution? | p. 68 |
Why Britain? Why then? | p. 70 |
What did the others do? | p. 72 |
Pax Britannica | p. 72 |
The gold standard and capital flows | p. 72 |
Free trade | p. 75 |
Balance of power | p. 75 |
Renewed Imperialism | p. 79 |
War and Economic Disorder | p. 82 |
The world wars | p. 82 |
Interwar economic failure | p. 84 |
Conclusion | p. 87 |
Further Reading | p. 90 |
5 Growing a Global Economy: 1945-2010 | p. 91 |
The Cold War Era: 1945-89 | p. 91 |
The US-led Western political economy | p. 91 |
The communist political economy | p. 94 |
The southern political economy | p. 94 |
The Post-Cold War Era: 1990-2010 | p. 96 |
Competing capitalisms and state transformation | p. 96 |
The information revolution | p. 99 |
International organizations and governance | p. 101 |
Conclusion | p. 102 |
Further Reading | p. 105 |
Part 3 Dynamics | p. 107 |
6 International Trade | p. 109 |
Definitions | p. 109 |
Theoretical Perspectives: Free Trade and Protectionism | p. 111 |
Proponents of free trade | p. 111 |
Critics of free trade | p. 113 |
Major Developments | p. 115 |
Growth and protectionism | p. 115 |
Changing institutional arrangements | p. 119 |
Key Issues | p. 122 |
Developing country interests | p. 123 |
Regional trade agreements | p. 127 |
Legitimacy | p. 129 |
Conclusion | p. 130 |
Further Reading | p. 131 |
7 Transnational Production | p. 132 |
Definitions | p. 134 |
Theoretical Perspectives: Explaining the Growth of TNCs | p. 135 |
Major Developments | p. 138 |
The globalization of production | p. 138 |
Changing organizational principles | p. 142 |
Key Issues | p. 145 |
Re-evaluating the benefits of FDI | p. 145 |
State-firm interactions | p. 148 |
Regulating capital | p. 152 |
Conclusion | p. 152 |
Further Reading | p. 153 |
8 The Global Financial System | p. 154 |
Definitions and Background | p. 154 |
Theoretical Perspectives: The Mundell-Fleming Model | p. 157 |
Major Developments | p. 159 |
IMS: from fixed to floating and regional currencies | p. 159 |
Credit: financial innovation and repeated crises | p. 163 |
Key Issues | p. 172 |
Global credit crisis | p. 172 |
Future of the US dollar | p. 174 |
The European sovereign debt and euro crisis | p. 177 |
Conclusion | p. 179 |
Further Reading | p. 181 |
9 Global Division of Labour | p. 182 |
Definitions | p. 182 |
Theoretical Perspectives: Adam Smith and his Critics | p. 185 |
Major Developments | p. 187 |
Changes in the production process | p. 187 |
From the new international to the global division of labour | p. 188 |
Key Issues | p. 190 |
Global restructuring: the rise of China and India | p. 190 |
The struggle for workers' rights in a global economy | p. 194 |
The division of labour and global stability | p. 196 |
Conclusion | p. 199 |
Further Reading | p. 199 |
10 Gender | p. 200 |
Definitions and Background | p. 200 |
Theoretical Perspectives: GPE as if Gender Mattered | p. 202 |
Major Developments | p. 205 |
Women in the world economy: employment trends and prospects | p. 205 |
Gender and global public policy | p. 207 |
Key Issues | p. 212 |
The feminization of poverty | p. 212 |
Globalization of reproductive work | p. 213 |
Gender and global restructuring | p. 216 |
Conclusion | p. 217 |
Further Reading | p. 218 |
11 Economic Development | p. 219 |
Definitions | p. 221 |
Theoretical Perspectives on Growth and Development | p. 224 |
Major Developments | p. 229 |
Development and national capitalism, 1947-81 | p. 229 |
Development, neoliberalism and beyond, 1982-2009 | p. 231 |
Key Issues | p. 234 |
The organization of development | p. 234 |
Debt and debt relief | p. 237 |
North-South conflict | p. 239 |
Conclusion | p. 241 |
Further Reading | p. 241 |
12 Global Environmental Change | p. 242 |
Definitions and Background | p. 243 |
Theoretical Perspectives: IPE and Environmental Studies | p. 244 |
IPE debates | p. 245 |
ÆEnvironmental studies' debates | p. 247 |
Major Developments | p. 249 |
Bringing the environment in | p. 250 |
Mainstreaming environmentalism | p. 252 |
Key Issues | p. 253 |
Sustainable development | p. 253 |
Trade and environmental degradation | p. 256 |
Climate change negotiations | p. 257 |
Conclusion | p. 259 |
Further Reading | p. 260 |
13 Ideas | p. 261 |
Definitions | p. 261 |
Theoretical Perspectives: Ideas about Ideas | p. 262 |
Major Developments | p. 265 |
The information revolution and the information society | p. 265 |
The rise and stall of the Washington Consensus | p. 267 |
Key Issues | p. 270 |
Technological diffusion | p. 270 |
Property rights and life (HTV/AIDS) | p. 271 |
Ideas, interests and the global financial crisis | p. 273 |
Conclusion | p. 276 |
Further Reading | p. 276 |
14 Security | p. 277 |
Definitions: Three Views of Security | p. 277 |
The traditional state-centric approach | p. 277 |
New security studies | p. 278 |
Human security | p. 279 |
Theoretical Perspectives: Integrating Security and Political Economy | p. 280 |
Major Developments | p. 283 |
The Cold War security structure | p. 283 |
The post-Cold War security structure | p. 284 |
Key Issues | p. 288 |
Economic statecraft and security | p. 288 |
Transnational crime | p. 291 |
Disease, pandemics and1 security | p. 292 |
Conclusion | p. 294 |
Further Reading | p. 294 |
15 Governing the Global Political Economy | p. 295 |
Definitions | p. 295 |
Theoretical Perspectives: Whither the State? | p. 295 |
Major Developments | p. 297 |
Proliferation of governance levels | p. 298 |
Proliferation of actors | p. 301 |
The Global Compact | p. 304 |
Twenty-first-century Challenges | p. 305 |
Development and growth | p. 305 |
Equality and justice | p. 306 |
Democracy and regulation | p. 309 |
Conclusion | p. 311 |
Further Reading | p. 311 |
References | p. 312 |
Index | p. 332 |