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International Political Economy

A Reader

Axel Hülsemeyer

Publication Date - March 2010

ISBN: 9780195429107

584 pages

In Stock

A collection of primary readings that introduces students to international political economy


International Political Economy: A Reader is a collection of primary readings that introduces students to international political economy (IPE)--an area of study concerned with the relationship between the two dominant forms of social organization in the modern world, "the state," and "the market."

Ranging from Adam Smith's theory of the invisible hand to recent discussions of hemispheric integration, this reader contains thirty-five unabridged selections that highlight the historical development, major theoretical debates, and practical issues within the field.

The text is divided into five Parts:

* Part I: The Dominant Theories of IPE covers the three sets of theoretical approaches that make up the core of IPE: liberalism, mercantilism, and Marxism.
* Part II: Structures of IPE builds on the foundation established in the first part to examine three topics: international trade; money and finance; and international production and multinational corporations.
* Part III: Economic Globalization and the "State" explores the process of economic globalization and its implications for "the state."
* Part IV: Regional Integration presents the debates surrounding the phenomenon of economically motivated regional integration that is observable in and beyond the oecd world, and particularly in Europe, the Western hemisphere, and Southeast Asia.
* Part V: Towards the 21st Century?, presents recent discussions of familiar and new topics that are of increasing importance in the new millennium such as North-South development, sustainable development, and transition economies.

Each Part begins with an introduction that guides students in the concepts necessary for the interpretation of individual readings. Each concludes with study questions and annotated suggestions for further reading.

About the Author(s)

Axel Hülsemeyer is Associate Professor in the Political Science Department at Concordia University.

Table of Contents

    Biographical Note
    Main Introduction
    Part I - The Dominant Theories of IPE
    1. Liberalism
    (a) from An Inquiry into the Nature and Causes of the Wealth of Nations: 'Of the Division of Labour', 'Of the Principle Which Gives Occasion to the Division of Labour', and 'That the Division of Labour Is Limited by the Extent of the Market', Adam Smith
    (b) from The Principles of Political Economy and Taxation, David Ricardo
    (c) from The General Theory of Employment, Interest, and Money: 'The General Theory', 'The Postulates of Classical Economics', and 'Concluding Notes on the Social Philosophy towards which the General Theory Might Lead', John M. Keynes
    2. (Neo-)Mercantilist Reflection
    (a) from The National System of Political Economy: 'The Theory of the Powers of Production and the Theory of Values', and 'Customs Duties as a Chief Means of Establishing and Protecting the Internal Manufacturing Power', Friedrich List
    (b) from The Power of Nations: The Political Economy of International Relations: 'The Bases of National Economic Power', Klaus Knorr
    (c) 'Policy Rivalry among Industrial States: What Can We Learn from Models of Strategic Trade Policy?', Klaus Stegemann
    3. (Neo-)Marxist Reflection
    (a) 'Outlines of a Critique of Political Economy', Frederick Engels
    (b) from Imperialism, the Highest Stage of Capitalism: 'Imperialism as a Special Case of Capitalism', Vladimir I. Lenin
    (c) 'The Rise and Future Demise of the World Capitalist System: Concepts for Comparative Analysis', Immanuel M. Wallerstein
    4. Post-Positivist Response
    (a) 'Anarchy Is What States Make of It: The Social Construction of Power Politics', Alexander Wendt
    (b) 'How (the Meaning of) Gender Matters in Political Economy', V. Spike Peterson
    Review Questions
    Further Literature
    Part II - Structures of IPE
    1. The Politics of International Trade
    (a) 'In the Shadow of Law or Power? Consensus-Based Bargaining and Outcomes in the GATT/WTO', Richard H. Steinberg
    (b) 'Private Rights vs Public Standards in the WTO', Sol Picciotto
    2. The Political Economy of Money and Finance
    (a) 'The Obsolescence of Capital Controls? Economic Management in an Age of Global Markets', John B. Goodman and Louis W. Pauly
    (b) 'Institutional Investors and Polanyi's Double Movement: A Model of Contemporary Currency Crises', Adam Harmes
    3. International Production and Multinational Corporations
    (a) from American Business Abroad: Six Lectures on Direct Investment: 'The International Corporation', Charles P. Kindleberger
    (b) 'National Structures and Multinational Corporate Behaviors: Enduring Differences in the Age of Globalization', Louis W. Pauly and Simon Reich
    Review Questions
    Further Literature
    Part III - Economic Globalization and 'the State'
    1. Globalization I - Which Role for the State?
    (a) 'The Eclipse of the State? Reflections on Stateness in an Era of Globalization', Peter Evans
    (b) 'Globalization and the Future of the Nation-State', Paul Hirst and Grahame Thompson
    2. Globalization II - Toward Convergence?
    (a) 'The Convergence Hypothesis Revisited: Globalization but Still the Century of Nations?', Robert Boyer
    (b) 'Globalization and Policy Convergence', Daniel W. Drezner
    Review Questions
    Further Literature
    Part IV - Regional Integration: Europe and Beyond
    1. Conceptualizing the Phenomenon
    (a) 'Regionalism: Old and New', Raimo Väyrynen
    (b) 'Regional Integration and Domestic Institutional Homogeneity: A Comparative Analysis of Regional Integration in the Americas, Pacific Asia, and Western Europe', Yi Feng and Gaspare M. Genna
    2. Regional Integration I - The European Union
    (a) 'The Path to European Integration: A Historical Institutionalist Analysis', Paul Pierson
    (b) 'What Can We Learn from the Collapse of the European Constitutional Project?', Andrew Moravcsik
    3. Regional Integration II - Western Hemisphere
    (a) 'Explaining Latin American Economic Integration: The Case of Mercosur', Karl Kaltenthaler and Frank O. Mora
    (b) 'Hemispheric Integration and Subregionalism in the Americas', Nicola Phillips
    4. Regional Integration III - Southeast Asia
    (a) 'Asia's Post-Crisis Regionalism: Bringing the State Back in, Keeping the (United) States Out', Paul Bowles
    (b) 'Two Funerals and a Wedding? The Ups and Downs of Regionalism in East Asia and Asia Pacific after the Asian Crisis', Douglas Webber
    Review Questions
    Further Literature
    Part V - Toward the Twenty-First Century
    1. Continuing North-South Disparity - New Recipes?
    (a) 'What Strategies Are Viable for Developing Countries Today? The World Trade Organization and the Shrinking of "Development Space"', Robert Hunter Wade
    (b) 'Globalization, Poverty, and the North-South Divide', Arie M. Kacowicz
    2. Transition Economies - From the Outside Looking In
    (a) 'Market Structures, Political Institutions, and Democratization: The Latin American and East European Experiences', David Bartlett and Wendy Hunter
    (b) 'Post-Communist Transformation and Industrial Relations: A Fast-Track to the "Competition State" in Eastern Europe?', Ralf J. Leiteritz and Lars Handrich
    3. Sustainable Development
    (a) 'A Climate for Business: Global Warming, the State, and Capital', Peter Newell and Matthew Paterson
    (b) 'Global Environmental Politics and Competition between Nation-States: On the Regulation of Biodiversity', Christoph Görg and Ulrich Brand
    Review Questions
    Further Literature