84 DISCIPLINES 6 International Political Economy philip cerny International Political Economy, domestic politics and democracy International Political Economy (IPE) had already achieved prominence as a field of study by the start of the 21st century, but its role has changed dramatically, with issues of democratic governance and policy-making moving to the forefront. Originally, however, the roots of IPE lay in economic aspects of relations among nation-states in the international system – foreign economic policy, trade, the spread of production systems and
2 International political economy and global social change Political economy is concerned with the historically constituted frameworks or structures within which political and economic activity takes place. It stands back from the apparent fixity of the present to ask how the existing structures came into being and how they may be changing, or how they may be induced to change. In this sense, political economy is critical theory. (Cox, 1995: 32) T he field of IPE is inextricably bound up with understandings of global social transformation. Indeed, for many
Democratization is a major political phenomenon of the age and has been the focus of a burgeoning political science literature. This book considers democratization across a range of disciplines, from anthropology and economics, to sociology, law and area studies. The construction of democratization as a unit of study reflects the intellectual standpoint of the inquirer. The book highlights the use of normative argument to legitimize the exercise of power. From the 1950s to the 1980s, economic success enabled the authoritarian governments of South Korea and Taiwan to achieve a large measure of popular support despite the absence of democracy. The book outlines what a feminist framework might be and analyses feminist engagements with the theory and practice of democratization. It also shows how historians have contributed to the understanding of the processes of democratization. International Political Economy (IPE) has always had the potential to cut across the levels-of-analysis distinction. A legal perspective on democratization is presented by focusing on a tightly linked set of issues straddling the border between political and judicial power as they have arisen. Classic and contemporary sociological approaches to understanding democracy and democratization are highlighted, with particular attention being accorded to the post-1989 period. The book displays particularities within a common concern for institutional structures and their performance, ranging over the representation of women, electoral systems and constitutions (in Africa) and presidentialism (in Latin America). Both Europe and North America present in their different ways a kind of bridge between domestic and international dimensions of democratization.
This book begins with a recapitulation of the main themes of Strange's earlier Casino Capitalism, stressing the major policy decisions and non-decisions that, in her opinion, had first allowed financial markets seemingly to outgrow governmental control. It adds a number of newer systemic developments that had emerged in the years after Casino Capitalism was published. Following this opening tour d'horizon, the book evaluates many of these developments in greater detail, covering the revolution in information technology interstate politics, contagion risks, global debt, money laundering and the roles of both national governments and multilateral agencies such as the International Monetary Fund and Bank for International Settlements. Great emphasis is placed on the relationship between the United States and Japan, the 'US-Japan axis', which is considered crucial to the effective management of financial crises. All the strings of Strange's discussion are pulled together where she turns her eyes to the future. Most financial research at the time seemed biased toward midlevel theory building, focusing primarily on key relationships within a broader structure whose characteristics were assumed, normally, to be given and stable. The book discusses hypotheses about the most important changes that have affected the global financial system and the international political economy. Key decisions, or non-decisions in the case of failures to act when positive action would have been possible, are also discussed.
Originally released by Basil Blackwell in 1986, and then re-released by Manchester University Press in 1998, Casino capitalism is a cutting-edge discussion of international financial markets, the way they behave and the power they wield. It examines money's power for good as well as its terrible disruptive, destructive power for evil. Money is seen as being far too important to leave to bankers and economists to do with as they think best. The raison d'être of Casino Capitalism is to expose the development of a financial system that has increasingly escaped the calming influences of democratic control.
This new edition includes a powerful new introduction provided by Matthew Watson that puts the book it in its proper historical context, as well as identifying its relevance for the modern world. It will have a wide reaching audience, appealing both to academics and students of economics and globalization as well as the general reader with interests in capitalism and economic history.
no rights. Focusing on intermediaries, mediation and in particular on the role of the cadets sociaux enables us to show how social dynamics are re-enacted in a context of crisis. Background Historical analyses have attributed the failure of the Guinean, Liberian and Sierra Leonian governmental responses at the onset of the epidemic to a number of factors related to history and international political economy. They range from the
. , Roberts , A. and Tornhill , S. ( 2018 ), ‘ Corporations, Gender Equality and Women’s Empowerment: Feminism Co-opted? ’, in Nölke , A. and May , C. (eds), Handbook of the International Political Economy of the Corporation ( Cheltenham
3396 Producing globalisation 29/9/09 11:16 Page 163 Epilogue A gap in the ideas literature in international relations/international political economy led us to the concept of hegemonic discourses. The challenge to capture and analyse hegemonic discourses led us to a finer elaboration of the relationship between the public and the hegemonic; an elaboration through which the hegemonic came to be conceptualised as the social technology of the public’s (re)production. In turn, this led us to domestic mechanisms of ideology and politics production. This
risk coverage will not ultimately protect communities and ecosystems under threat from environmental degradation. Recognisably, these market events and subsequent behavioural responses limit the ability to ensure sustainability through international political economy instruments without fundamentally internalising environmental costs into the global 3402 World Bank Group:2634Prelims Conclusion 12/11/09 14:56 Page 245 245 political economy. While greening these IOs is a move in the right direction, much broader shifts within all market actors and industries
, the chapter will use a structure drawn from Susan Strange’s book States and Markets based on four areas of political economy – finance, production, security and knowledge. Strange’s structure is one of the best-known and most accessible IPE frameworks. 1 Strange’s framework of analysis for international political economy is based on four basic values: (i) wealth; (ii) security; (iii) freedom; and (iv) justice. Each society, she maintains, gives different weighting to each of these values, which in turn affects the balance between the