The global political economy : perspectives, problems, and policies / Stephen Gill and David Law.

Format:

Book

Author/Creator:

Gill, Stephen, 1950-

Contributor:

Law, David, 1946-

Language:

English

Subjects (All):

International economic relations.

International trade.

International finance.

International business enterprises.

East-West trade.

Commercial policy.

Economic policy.

Physical Description:

xxvi, 394 pages ; 24 cm

Place of Publication:

Baltimore : Johns Hopkins University Press, [1988]

Summary:

The Global Political Economy explores contemporary policy questions in such areas as militarization; technology and transnational corporations; money, exchange rates, and capital flows; and trade. Relating these policy questions to selected case studies, the authors reveal the interdependence of the global political economy in East-West relations, North-South relations, and the political economy of energy.

Contents:

Part I Perspectives and Concepts

1 Towards an Integrated Global Political Economy 3

2. Economics, politics, and international studies 3

3. Recent developments in the field 7

2 On Perspectives and Their Appraisal 17

1. On perspectives 17

2. Criteria for evaluation 19

3. Perspectives and their practical implications 22

3 Realism, Mercantilism and International Dominance 25

1. Realist assumptions 25

2. Realism and foreign economic policy 27

3. Some implications of the realist perspective 30

4. Game theory, cooperation and institutions 32

5. Cooperation and international regimes 36

4 Economic Liberalism and Public Choice

2. Liberal assumptions and units of analysis 41

3. Public goods and free-riders 44

4. The theory of hegemonic stability 46

5. Public choice and policy-making 48

6. Economic liberalism and political interests 50

5 Marxism and the World System 54

2. Modes of production 55

3. The state and imperialism 56

4. The core-periphery divide 59

5. Transnational historical materialism 63

6. Reform or revolution? 68

6 Key Concepts: Power, Structure and Hegemony 71

2. Power and power resources 71

3. Three dimensions of power: overt, covert and structural 73

4. Two concepts of hegemony: realist and Gramscian 76

Part II Themes

7 The Power of Capital 83

1. The concept of capital 83

2. State and capital 84

3. The power of capital 84

4. The power of capital: limits and contradictions 95

8 Military-Industrial Rivalry in the Global Political Economy 103

1. 'Catch-up logic' and realist-mercantilism 103

2. The level and determinants of military expenditures 105

3. The costs and benefits of military expenditures 109

4. The political economy of arms 113

5. The nature and significance of military-industrial complexes 115

6. The scale of the American and Soviet military-industrial complexes 116

7. The economic and political impact of military-industrial complexes 119

Part III The Post-War System

9 The Post-War Political Economy: Inter-state Rivalry, Transnationalisation and Globalisation 127

1. Some historical issues 128

2. The inter-war crisis and American hegemony 129

3. Patterns of growth, development and global inequality 137

4. Inter-state rivalry and the post-war military order 140

5. Post-war international economic institutions 143

6. Transnationalisation 146

7. Towards a global culture? 155

10 Money, Finance and Macroeconomics Relations 159

2. International money 160

3. Money and credit 163

4. Balance of payments adjustment 165

5. International monetary orders 170

6. Instability and the breakdown of the Bretton Woods system 172

7. The 'brave new world' of capital mobility and offshore markets 174

8. Floating exchange rates and the dollar 176

9. Third World debts: banks and states 182

10. Political consequences and conclusions 185

11 Transnational Corporations and Global Production 191

2. The nature and development of transnational corporations 192

3. Theories of the transnational corporation 199

4. Conflicting perspectives on transnational corporations 203

5. Transnationals, The United States government and American foreign economic policy 205

6. Transnational companies and Third World states 211

7. Bargaining with transnationals 213

8. Labour and transnationals 217

12 Trade and Protectionism 224

2. The importance of international trade 224

3. Levels of analysis and key questions 227

4. Post-war trade developments 230

5. Trade and growth 233

6. Gains from trade 235

7. The macro-level: global openness and closure 240

8. The meso-level: arms production and North-South contrasts 245

9. The micro-level: the industry composition of protection 248

10. From Tokyo to Uruguay 249

13 Energy and the Case of International Oil 256

2. The importance of oil 256

3. Changes in international oil 259

4. East and West, North and South 265

5. American policies 268

6. Perspectives and interpretations 271

7. Prospects 274

14 North-South Relations 280

2. Perspectives on North-South relations 281

3. Third World economic interdependence 281

4. Third World consciousness and the international economic order 283

5. Third World demands 284

6. The New International Economic Order and the North-South dialogue 286

7. The Failure of the New International Economic Order demands 287

8. Obstacles to Third World unity 289

9. Commodity agreements and regimes 292

10. The political economy of aid 295

15 Communist States and East-West Relations 302

2. The Soviet state: its origins, characteristics and development 303

3. State socialism and world capitalism 310

4. East-West trade and finance 312

5. Technology transfer and East-West relations 315

6. Soviet hegemony and Eastern Europe 320

7. The limits to the rise of soviet power 323

8. China since Mao 328

Part IV Prospects

16 American Hegemony and International Order 335

2. Theories of hegemonic decline and the United States 336

3. American strategic options 343

4. Hegemonic decline and material power resources 345

5. Hegemony, culture and mobilisation 347

6. United States leadership and transnational hegemony 355

17 Contradictions, Problems and Prospects 360

2. Scenarios and models 360

3. Towards a transnational hegemony? 361

4. The national-mercantilist scenario 367

5. Militarisation and catastrophe 368

6. Ecological crisis 370

7. Ethical issues and the global political economy 374

8. An agenda for study 377.

Notes:

Includes bibliographies and index.

ISBN:

0801837634

OCLC:

17917073