Global political economy

This comprehensive and innovative text will be essential reading for scholars and students working in international relations, international economics, development studies, as well as international political economy. Two broad themes are elaborated the militarisation and cumulative integration of the post-1945 global political economy These are also linked to a subsidiary, but none the less crucial theme global ecological changes, and long-term questions concerning the survival of the species.

Part one begins with a methodological introduction and an exposition of the way in which the field is defined by the major theoretical traditions: realism, liberalism and marxism. Criteria for evaluation of perspectives is introduced. The assumptions and implications of varying schools of thought are elucidated. The perspectives and concepts are seen not only in terms of their explanatory capacity, but also as social forces which help. constitute the structures of the political economy.

Part two elaborates the two main themes, and in particular introduces the novel concept of the power of capital as well as an interpretation of the logic of military-industrial rivalry. Part three analyses the post-war global political economy in order to discuss theoretical and policy issues. This begins with a structural and historical overview, and proceeds with an examination of the development and dynamics of the monetary, production, and exchange structures. Chapters follow on the political economy of international oil; North-South relations; East-West relations and communist states. In this context, the questions of order, stability and justice in the system are discussed.

Part four concerns the future of the global political economy. One chapter discusses the prospects for American hegemony and its implications for world order. The other analyses contradictions and long-term dynamics of the system, and concludes by outlining a number of ethical issues and proposing an agenda for study.