Global Political Economy : Evolution and Dynamics

by Robert O'Brien and Marc Williams

• ISBN13: 9780333689639
• ISBN10: 0333689631
• Format: Trade Paper
• Copyright: 2004-04-03
• Publisher: Palgrave Macmillan

Summary

This new text on global political economy provides a uniquely ranging historical account of the emergence of a worldwide economy since the 15th century combined with a systematic analysis of international political economy today. The book is theoretically informed but, unlike many books in its field, it introduces a range of approaches and shows how these can be applied and how useful they are in tackling--key issues from trade, production, and finance to social divisions, development, and the environment. It concludes by considering global governance and how markets can be regulated to meet human purposes in an increasingly global economy.

Author Biography

Robert O'Brien holds the LIUNA/Enrico Henry Mancinelli Professorship in Global Labour Issues and is the Associate Director of the Institute on Globalization and the Human Condition at McMaster University, Ontario, Canada Marc Williams is Professor of International Relations and Head of the School of Politics and International Relations, University of New South Wales, Sydney, Australia

Table of Contents

List of Boxes, Tables, Figures and Maps	ix
Acknowledgements	xi
List of Abbreviations	xii
Introduction	1	(10)
Understanding the Global Political Economy	11	(32)
Contending perspectives on international political economy	13	(12)
Three major figures and today's debates	25	(11)
Approach of the book	36	(7)
PART I EVOLUTION
Forging a World Economy 1400--1800	43	(33)
Regions of the world economy	44	(14)
European expansion	58	(13)
Conclusion	71	(5)
The Industrial Revolution, Pax Britannica and Imperialism	76	(28)
The Industrial Revolution	77	(7)
Pax Britannica	84	(10)
Renewed imperialism	94	(5)
Conclusion	99	(5)
The Twentieth Century: World Wars and the Post-1945 Order	104	(31)
War and economic disorder	104	(9)
The post-1945 order	113	(16)
Conclusion	129	(6)
PART II DYNAMICS
International Trade	135	(32)
Definitions	135	(3)
Theoretical perspectives: free trade and protectionism	138	(7)
Major developments	145	(11)
Key issues	156	(10)
Conclusion	166	(1)
Transnational Production	167	(31)
Definitions	168	(3)
Theoretical perspectives: explaining the growth of TNCs	171	(4)
Major developments	175	(10)
Key issues	185	(11)
Conclusion	196	(2)
Global Division of Labour	198	(26)
Definitions	198	(2)
Theoretical perspectives: Adam Smith and his critics	200	(4)
Major developments	204	(5)
Key issues	209	(14)
Conclusion	223	(1)
The Global Financial System	224	(29)
Definitions and background	224	(4)
Theoretical perspectives: monetary policy - exchange rate - capital mobility trade-off	228	(2)
Major developments	230	(11)
Key issues	241	(11)
Conclusion	252	(1)
Economic Development	253	(34)
Definitions	254	(5)
Theoretical perspectives on growth and development	259	(7)
Major developments	266	(8)
Key issues	274	(11)
Conclusion	285	(2)
Global Environmental Change	287	(28)
Definitions and background	288	(3)
Theoretical perspectives: IPE and environmental studies	291	(8)
Major developments	299	(6)
Key issues	305	(8)
Conclusion	313	(2)
Governing the Global Political Economy	315	(23)
What is global governance and how does it work?	315	(13)
21st century challenges?	328	(9)
Conclusion	337	(1)
References	338	(19)
Index	357