Introduction to International Political Economy

by Balaam, David N.; Veseth, Michael

ISBN13:

9780131495920

ISBN10:

0131495925

Format:

Hardcover

Pub. Date:

6/1/1996

Publisher(s):

Prentice Hall

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Summary

A clear comprehensive and unbiased introduction to International Political Economy written by an economist and a political scientist. The text takes an interdisciplinary approach as it examines international economic global issues.

PREFACE

viii

PART I PERSPECTIVES ON INTERNATIONAL POLITICAL ECONOMY

(98)

1 What Is International Political Economy?

(18)

First Principles: States and Markets

(2)

Wealth and Power: The Tension Between States and Markets

(2)

The Dynamic Nature of State-Market Interaction

(1)

Case Study: The United States, China, and the MFN Issue

(2)

What Is International Political Economy?

(1)

The Structures of International Political Economy

(2)

Values and Viewpoints: Theoretical Perspectives on IPE

(1)

IPE in Perspective

(5)

2 Wealth and Power: Mercantilism and Economic Nationalism

(18)

The Intellectual Roots of Mercantilism

(2)

The Mercantilist Period of History

(1)

Economic Nationalism

(1)

The Road to Postwar Neomercantilism

(2)

Mercantilism as Economic Management: Statism

(1)

Mercantilism and Realism: Complementary Philosophies

(2)

Contemporary Economic Nationalism and Neomercantilism

(2)

Case Study: Espionage

(1)

Conclusion

(4)

3 "Laissez-Faire, Laissez-Passer": The Liberal IPE Perspective

(20)

Roots of the Liberal Perspective

(2)

The Liberal View of International Relations

(1)

Case Study: Britain's Corn Laws

(1)

J. S. Mill and the Evolution of the Liberal Perspective

(2)

The War, the Depression, and Mr. Keynes

(2)

The Keynesian Compromise

(1)

The Liberal View of Hegemony

(3)

Conservatism: The Resurgence of Classical Liberalism

(1)

Reagan, Thatcher, and the Neoconservatives

(1)

Liberalism Today

(3)

4 Marx, Lenin, and the Structuralist Perspective

(18)

Marx and History

(1)

Marx and Class Struggle

(1)

Marx and the Crisis of Capitalism

(3)

Marx and Structuralism

(1)

Lenin and Imperialism

(1)

Lenin and International Capitalism

(1)

Other Aspects of the Structuralist Perspective

(1)

Case Study: NAFTA and the Maquiladorization of Mexico

(1)

Modern World System Theory

(2)

Dependency Theory

(1)

Structuralism in Perspective

(3)

5 The Rational Choice Approach to IPE

(22)

Elizabeth Nunn

Rational Choice Theory vs. Philosophical Perspectives

(1)

The State and the Individual

(1)

Rational Choice and Human Behavior

(1)

Rational Choice and the Political Marketplace

(2)

Private Interests and the National Interest

(3)

Domestic Policy vs. International Relations

(1)

A Rational Choice Analysis of NAFTA

(2)

A Rational Choice Analysis of GATT

(1)

Mercantilism: Rational Choice and Japanese Trade Policy

(1)

Rational Choice and Structuralist IPE

(1)

Rational Choice and Liberalism

(2)

Conclusion

(4)

PART II IPE STRUCTURES: PRODUCTION, FINANCE, SECURITY, AND KNOWLEDGE

(116)

6 International Trade

103

(23)

The Motivation to Trade: The Theory of Comparative Advantage

106

(2)

A Brief History of Trade

108

(2)

The Great Depression: Trade Protection Abounds

110

(1)

The GATT and the Postwar Trade Structure

111

(2)

The Industrialized Nations: Protectionism Entrenched

113

(1)

Strategic Trade

114

(1)

The GATT Uruguay Round and Birth of the WTO

115

(4)

LDCs and International Trade

119

(1)

Trade as a Foreign Policy Tool

120

(2)

Conclusion: The Future of International Trade

122

(4)

7 The International Monetary System

126

(21)

A Student's Guide to Foreign Exchange

128

(1)

The FX Ticket: A Currency's Value Depends on What It Can Buy

129

(2)

The Effects of FX Changes

131

(5)

Introduction to the International Monetary System

136

(1)

Fixed FX: The Classical Gold Standard

137

(1)

Fixed FX Again: The Bretton Woods System

138

(1)

The Lessons of Bretton Woods

139

(2)

Markets at Work: Floating Exchange Rates

141

(2)

States and Markets Together: Managed Exchange Rates

143

(1)

The Problems of a World Monetary Order

144

(3)

8 Debt: The Political Economy of International Finance

147

(22)

The Nature and Significance of Finance

149

(1)

The Vocabulary of International Finance

150

(3)

How International Payments Balance

153

(3)

Three Perspectives on the International Finance Structure

156

(2)

The Global Financial Structure

158

(2)

The Impact of Global Finance on IPE

160

(1)

The LDC Debt Crisis

161

(3)

Creating Cooperation: The Brady Plan

164

(2)

States and Markets in Global Finance

166

(3)

9 The International Security Structure

169

(26)

The Cold War and the Changing Definition of National Security

171

(1)

The North and South: The Burden of Interdependence

172

(1)

The Three IPE Approaches to National Security

173

(2)

The Balance of Power and the International Security Structure

175

(1)

The Evolution of Multipolarity

176

(1)

Hegemonic Power and International Security

177

(2)

Cold War Military Strategy: The Rules of the Game

179

(3)

The Vietnam War

182

(2)

Economic Statecraft

184

(2)

The OPEC Oil Crisis: More Shifts in the Underlying Elements of Power

186

(1)

The Political Economy of National Security

186

(2)

The Post-Cold War International Security Structure: The Persian Gulf War

188

(2)

The Future of the International Security Structure

190

(5)

10 Knowledge and Technology: The Basis of Wealth and Power

195

(20)

Ross Singleton

The International Knowledge Structure

197

(2)

The Nature and Impact of Technological Innovation

199

(2)

The IPE of Technology and Intellectual Property Rights (IPRs)

201

(1)

Three Perspectives on Intellectual Property Rights

202

(1)

U.S. Efforts to Protect Intellectual Property Rights

203

(3)

Cooperation and Conflict Among Industrialized Nations

206

(1)

Case Study: Patenting Life-The International Harmonization of Biotechnology Protection

207

(1)

North-South Conflicts over Intellectual Property Rights

208

(2)

Case Study: Asian Developing Countries-Tigers or Copycats?

210

(1)

Conclusion

211

(4)

PART III STATE-MARKET TENSIONS TODAY

215

(95)

11 The European Union: The Economics and Politics of Integration

217

(24)

The Logic of Economic Integration

219

(2)

Growth and Efficiency: The Economics of Integration

221

(1)

Sovereignty at Risk: The Politics of Integration

221

(3)

The Birth of the European Economic Community

224

(3)

Broader and Deeper: The EC, 1973-1993

227

(2)

The Development of Political Institutions

229

(2)

The European Union Today

231

(2)

The Future of Economic and Political Integration in Europe

233

(5)

Euro-Optimists and Euro-Pessimists

238

(3)

12 Democracy and Markets: The IPE of NAFTA

241

(18)

David J. Sousa

What Is NAFTA?

243

(2)

"From the Yukon to the Yucatan": The Core of the Deal

245

(2)

Supplemental Agreements on the Environment and Labor

247

(3)

Markets, Democracy, and Protectionism

250

(1)

Democracy and Markets

251

(1)

Democracy, Markets, and NAFTA

252

(2)

Conclusion: Democracy, NAFTA, and the Future of U.S. Trade Policy

254

(5)

13 Japan and the International Political Economy

259

(24)

Karl J. Fields

Elizabeth Norville

History: From Isolationist to Imperialist

260

(4)

Post-World War II: Playing Catch Up

264

(4)

Rich Uncle Sam: A Necessary Condition for Japan's Success?

268

(1)

Japan at the Crossroads: All Caught Up

269

(9)

Conclusion

278

(5)

14 States and Markets in Transition

283

(26)

States and Markets in Transition

284

(1)

Communism and the Classical Socialist System

285

(1)

The Politics of Classical Socialism

286

(2)

The Economics of Classical Socialism

288

(4)

The Problems of Transition

292

(1)

The Politics of Transition

293

(2)

The Economics of Transition

295

(2)

Economic and Political Reform in Russia

297

(3)

"Shock Therapy" in Poland

300

(2)

China's Transition to Market Socialism

302

(2)

States and Markets in Transition: Tensions, Issues, and Lessons

304

(5)

PART IV IPE NORTH AND SOUTH

309

(74)

15 The Development Dilemma: NICs and LDCs

311

(27)

Sunil Kukreja

The Third World and the Paradox of Economic Development

314

(2)

The North-South Debate

316

(1)

UNCTAD and the NIEO

317

(2)

The Liberal Model and Economic Development

319

(2)

Dependency: Development or Underdevelopment?

321

(3)

The Newly Industrializing Countries

324

(8)

Losing Ground: The African Predicament

332

(1)

Conclusion

333

(5)

16 The Changing IPE of Multinational Corporations

338

(22)

Leon Grunberg

The Nature of Multinational Corporations

340

(1)

Where Do They Come From and Where Do They Go?

340

(3)

Reasons for Foreign Direct Investment, or Why Do Firms Invest Overseas?

343

(2)

The Impact of Multinational Corporations

345

(1)

The Positive View

346

(2)

The Negative View

348

(3)

The Impact of MNC: Summing Up

351

(1)

Bargaining Relations Between MNC and Governments and Workers

352

(2)

Conclusion

354

(1)

Case Study: Wooing Multinational Corporation: The Case of Mercedes-Benz

355

(5)

17 The IPE of Energy and Oil

360

(23)

Timothy G. Amen

The OPEC Oil Crises of the 1970s: Pressures Behind the Shock

363

(4)

Reactions to the OPEC Oil Crises

367

(1)

The Deeper Roots of the Oil Crisis

368

(4)

Oil and OPEC in the 1980s

372

(1)

The IPE of Oil and Energy Today

373

(1)

The Mercantilist Perspective

374

(1)

The Economic Liberal Perspective

375

(2)

The Structuralist Perspective

377

(2)

Conclusion

379

(4)

PART V GLOBAL PROBLEMS

383

(66)

18 The IPE of Food and Hunger

385

(20)

Lifeboat Ethics

388

(1)

Lifeboat Ethics Critiqued

388

(2)

The World Food Crisis

390

(2)

An IPE of Food and Hunger

392

(2)

The Mercantilist Perspective

394

(2)

Case Study: The IPE of Famine in Somalia

396

(1)

The Liberal Perspective

397

(3)

The Structuralist Perspective

400

(2)

Conclusion

402

(3)

19 The Environment: The Green Side of IPE

405

(22)

The Environment as a Communal Good

407

(1)

The Global Scope of Problems

408

(2)

The Proliferation of Actors

410

(2)

Linkages to Other Issues

412

(1)

Case Study: The Greenhouse Effect

412

(3)

Case Study: Deforestation

415

(2)

Case Study: Ocean Nuclear Waste Dumping

417

(1)

Solutions: A Green IPE?

418

(5)

Conclusion

423

(4)

20 The United States and the IPE

427

(22)

The U.S. in the IPE: Questions, Challenges, Tensions

430

(1)

Problem 1: The Growing Tension Between Domestic and International Priorities

430

(7)

Problem 2: Reconciling National Security with Economic Security

437

(3)

Problem 3: Wither Pax Americana?

440

(1)

The Future? Four Scenarios

441

(5)

Conclusion: Days of Futures Past

446

(3)

GLOSSARY

449

(11)

GLOSSARY OF ACRONYMS

460

(1)

INDEX

461

Introduction to International Political Economy

9780131495920

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