Modification de What is International Political Economy?
Attention : vous n’êtes pas connecté(e). Votre adresse IP sera visible de tout le monde si vous faites des modifications. Si vous vous connectez ou créez un compte, vos modifications seront attribuées à votre propre nom d’utilisateur(rice) et vous aurez d’autres avantages.
La modification peut être annulée. Veuillez vérifier les différences ci-dessous pour voir si c’est bien ce que vous voulez faire, puis publier ces changements pour finaliser l’annulation de cette modification.
Version actuelle | Votre texte | ||
Ligne 1 : | Ligne 1 : | ||
=What is International political economy?= | =What is International political economy?= | ||
Ligne 53 : | Ligne 25 : | ||
A similar question is what explains the interior economic nationalism of the 1920s and the 1930s, the fact that in the 1920s and even more so in the 1930s, states raised tariffs and raised trade barriers with each other, turned inwards resulting in trade volumes to collapse. What explains that and again who won out and who lost from that, who opposed it who favoured it. And why at that particular point in time was that policy pursued by a good number of states. And why is it that after 1945, after the war, the reverse took place? Again the same question comes up: who benefits, which domestic groups in which states benefit from the setting up of those institutions and that cooperation? | A similar question is what explains the interior economic nationalism of the 1920s and the 1930s, the fact that in the 1920s and even more so in the 1930s, states raised tariffs and raised trade barriers with each other, turned inwards resulting in trade volumes to collapse. What explains that and again who won out and who lost from that, who opposed it who favoured it. And why at that particular point in time was that policy pursued by a good number of states. And why is it that after 1945, after the war, the reverse took place? Again the same question comes up: who benefits, which domestic groups in which states benefit from the setting up of those institutions and that cooperation? | ||
If we now look at investment or multinational corporations, the question is how multinational corporate activities affects the relation between states. So, what explains the conflict over Chinese toward foreign direct investment (FDI) into the United States? For example, there is the case of [https://en.wikipedia.org/wiki/Huawei Huawei], a global provider of information and communications technology (ICT) infrastructure and smart devices, that is involved in the development of 5G technology.<ref>Kerstein, R. (2019). 5G is here… Hip, hip, Huawei! The Bulletin of the Royal College of Surgeons of England, 101(6), 236–237. https://doi.org/10.1308/rcsbull.2019.236</ref><ref>Balding, Christopher and Clarke, Donald C., Who Owns Huawei? (April 17, 2019). Available at SSRN: https://ssrn.com/abstract=3372669 or http://dx.doi.org/10.2139/ssrn.3372669</ref> The United States has blocked investments by Huawei in the United States and is pressuring the European Union to block investments by Huawei, and not just investments, but also participation by Huawei in projects conducted in the European Union.<ref>Walker, Tony. “[https://theconversation.com/why-the-global-battle-over-huawei-could-prove-more-disruptive-than-trumps-trade-war-with-china-131828 Why the Global Battle over Huawei Could Prove More Disruptive than Trump's Trade War with China].” The Conversation, 21 Feb. 2020</ref><ref>Lyu, Mengting, and Chia-yi Lee. "[https://dr.ntu.edu.sg/handle/10356/105453 RSIS-WTO Parliamentary Workshop–US Blacklist on Huawei: Leverage for the US-China Trade Talks?]." (2019).</ref><ref>“[http://www.eias.org/news/the-trade-war-huawei-and-chinese-strategy/ The Trade War, Huawei and Chinese Strategy].” [http://www.eias.org/ EIAS].</ref><ref>Harrell, Peter E. “[https://foreignpolicy.com/2019/12/27/united-states-china-trade-war-fought-export-import-controls-investment-restrictions-sanctions/ The U.S.-Chinese Trade War Just Entered Phase 2].” Foreign Policy, 27 Dec. 2019.</ref> What explains the fact that [https://en.wikipedia.org/wiki/Macron President Macron] now, and Germany as well, are pushing for the idea that the European Union should set up a body to screen inward Chinese investment into the European Union and say which investment is going to be allowed and which investment is not going to be.<ref>Rose, Michel. “[https://www.reuters.com/article/us-china-france-europe/in-china-macron-presses-eu-for-united-front-on-foreign-takeovers-idUSKBN1EZ0QP In China, Macron Presses EU for United Front on Foreign Takeovers].” Reuters, Thomson Reuters, 10 Jan. 2018.</ref><ref>Brattberg, Erik, and Philippe Le Corre. “[https://carnegieendowment.org/2020/02/19/eu-and-china-in-2020-more-competition-ahead-pub-81096 The EU and China in 2020: More Competition Ahead].” [https://carnegieendowment.org/?lang=en Carnegie Endowment for International Peace].</ref> That is a new case in terms of international investments because the United States and the European Union were the sources of international investment so far.<ref>Sauvant, K. P., & Nolan, M. D. (2015). China’s Outward Foreign Direct Investment and International Investment Law. Journal of International Economic Law, jgv045. https://doi.org/10.1093/jiel/jgv045</ref><ref>Bailliu, J., Kruger, M., Toktamyssov, A., & Welbourn, W. (2017). How fast can China grow? The Middle Kingdom’s prospects to 2030. Pacific Economic Review, 24(2), 373–399. https://doi.org/10.1111/1468-0106.12240</ref><ref>Buckley, P. (2019), "China goes global: provenance, projection, performance and policy", International Journal of Emerging Markets, Vol. 14 No. 1, pp. 6-23. https://doi.org/10.1108/IJoEM-01-2017-0006</ref><ref>Schnabl, G. (2019). China’s Overinvestment and International Trade Conflicts. China & World Economy, 27(5), 37–62. https://doi.org/10.1111/cwe.12293</ref><ref>Baláž, Peter, Stanislav Zábojník, and Lukáš Harvánek. "[https://link.springer.com/chapter/10.1007/978-3-030-21912-3_3 The Growing Importance of China in the Global Trade]." China's Expansion in International Business. Palgrave Macmillan, Cham, 2020. 97-160.</ref> | If we now look at investment or multinational corporations, the question is how multinational corporate activities affects the relation between states. So, what explains the conflict over Chinese toward foreign direct investment (FDI) into the United States? For example, there is the case of [https://en.wikipedia.org/wiki/Huawei Huawei], a global provider of information and communications technology (ICT) infrastructure and smart devices, that is involved in the development of 5G technology.<ref>Kerstein, R. (2019). 5G is here… Hip, hip, Huawei! The Bulletin of the Royal College of Surgeons of England, 101(6), 236–237. https://doi.org/10.1308/rcsbull.2019.236</ref><ref>Balding, Christopher and Clarke, Donald C., Who Owns Huawei? (April 17, 2019). Available at SSRN: https://ssrn.com/abstract=3372669 or http://dx.doi.org/10.2139/ssrn.3372669</ref> The United States has blocked investments by Huawei in the United States and is pressuring the European Union to block investments by Huawei, and not just investments, but also participation by Huawei in projects conducted in the European Union.<ref>Walker, Tony. “[https://theconversation.com/why-the-global-battle-over-huawei-could-prove-more-disruptive-than-trumps-trade-war-with-china-131828 Why the Global Battle over Huawei Could Prove More Disruptive than Trump's Trade War with China].” The Conversation, 21 Feb. 2020</ref><ref>Lyu, Mengting, and Chia-yi Lee. "[https://dr.ntu.edu.sg/handle/10356/105453 RSIS-WTO Parliamentary Workshop–US Blacklist on Huawei: Leverage for the US-China Trade Talks?]." (2019).</ref><ref>“[http://www.eias.org/news/the-trade-war-huawei-and-chinese-strategy/ The Trade War, Huawei and Chinese Strategy].” [http://www.eias.org/ EIAS].</ref><ref>Harrell, Peter E. “[https://foreignpolicy.com/2019/12/27/united-states-china-trade-war-fought-export-import-controls-investment-restrictions-sanctions/ The U.S.-Chinese Trade War Just Entered Phase 2].” Foreign Policy, 27 Dec. 2019.</ref> What explains the fact that [https://en.wikipedia.org/wiki/Macron President Macron] now, and Germany as well, are pushing for the idea that the European Union should set up a body to screen inward Chinese investment into the European Union and say which investment is going to be allowed and which investment is not going to be.<ref>Rose, Michel. “[https://www.reuters.com/article/us-china-france-europe/in-china-macron-presses-eu-for-united-front-on-foreign-takeovers-idUSKBN1EZ0QP In China, Macron Presses EU for United Front on Foreign Takeovers].” Reuters, Thomson Reuters, 10 Jan. 2018.</ref><ref>Brattberg, Erik, and Philippe Le Corre. “[https://carnegieendowment.org/2020/02/19/eu-and-china-in-2020-more-competition-ahead-pub-81096 The EU and China in 2020: More Competition Ahead].” [https://carnegieendowment.org/?lang=en Carnegie Endowment for International Peace].</ref> That is a new case in terms of international investments because the United States and the European Union were the sources of international investment so far.<ref>Sauvant, K. P., & Nolan, M. D. (2015). China’s Outward Foreign Direct Investment and International Investment Law. Journal of International Economic Law, jgv045. https://doi.org/10.1093/jiel/jgv045</ref><ref>Bailliu, J., Kruger, M., Toktamyssov, A., & Welbourn, W. (2017). How fast can China grow? The Middle Kingdom’s prospects to 2030. Pacific Economic Review, 24(2), 373–399. https://doi.org/10.1111/1468-0106.12240</ref><ref> Buckley, P. (2019), "China goes global: provenance, projection, performance and policy", International Journal of Emerging Markets, Vol. 14 No. 1, pp. 6-23. https://doi.org/10.1108/IJoEM-01-2017-0006</ref><ref>Schnabl, G. (2019). China’s Overinvestment and International Trade Conflicts. China & World Economy, 27(5), 37–62. https://doi.org/10.1111/cwe.12293</ref><ref>Baláž, Peter, Stanislav Zábojník, and Lukáš Harvánek. "[https://link.springer.com/chapter/10.1007/978-3-030-21912-3_3 The Growing Importance of China in the Global Trade]." China's Expansion in International Business. Palgrave Macmillan, Cham, 2020. 97-160.</ref> | ||
A typical question was about the relationship of international investment before the Second World War in colonialism, and the pattern of investment relationship at that time. Two thirds of the globe were under direct administration by the British Empire, the French Empire, Portuguese empire. What explains the fact that the United States was not, except the Philippine, colonial power and did not attempt to become one after the 1930s. | A typical question was about the relationship of international investment before the Second World War in colonialism, and the pattern of investment relationship at that time. Two thirds of the globe were under direct administration by the British Empire, the French Empire, Portuguese empire. What explains the fact that the United States was not, except the Philippine, colonial power and did not attempt to become one after the 1930s. | ||
And what is the difference between that colonialism and [https://en.wikipedia.org/wiki/Global_value_chain global value chain] | And what is the difference between that colonialism and [https://en.wikipedia.org/wiki/Global_value_chain global value chain] today in a world? What is the relationship between global value chains, so the way multinational corporations operate today, and [[Multilateral trade agreements|regional trading investment]] agreements and blocks? Is there a relationship between the way international investment takes place today and the setting up of [https://en.wikipedia.org/wiki/Mercosur Mercosur], [https://en.wikipedia.org/wiki/North_American_Free_Trade_Agreement North American Free Trade Agreement] (NAFTA), [https://en.wikipedia.org/wiki/ASEAN Association of Southeast Asian Nations] (ASEAN) in the Southeast Asian region, the bilateral investment treaties agreed by Japan; is there a relationship between Russia investments in the setting of the European Union? International political economy deal with that kind of question. | ||
We look more at countries that are a destination for foreign direct investment, what kind of relationship development countries develop toward foreign direct investment. There was a period, for example, between the 1920s and the 1970s where developing states tried to keep out foreign direct investment, multinational corporations. And, since the late and since the mid-1970s, there is a competition to attract capitals, attract international corporations.<ref>Vukšić, G. (2013). Developing countries in competition for foreign investment. The Journal of International Trade & Economic Development, 22(3), 351–376. https://doi.org/10.1080/09638199.2011.578751</ref> So what explains that change in policy? | We look more at countries that are a destination for foreign direct investment, what kind of relationship development countries develop toward foreign direct investment. There was a period, for example, between the 1920s and the 1970s where developing states tried to keep out foreign direct investment, multinational corporations. And, since the late and since the mid-1970s, there is a competition to attract capitals, attract international corporations.<ref>Vukšić, G. (2013). Developing countries in competition for foreign investment. The Journal of International Trade & Economic Development, 22(3), 351–376. https://doi.org/10.1080/09638199.2011.578751</ref> So what explains that change in policy? | ||
A typical question in terms of the [[Money, Finance and the World Economy: 1974 - 2000|international monetary system]] and the [[Exchange rates and the foreign exchange market|exchange rate regime]] is why it is that China and the European Union today that want to reform the international monetary system.<ref>Otero-Iglesias, M., & Zhang, M. (2013). EU-China Collaboration in the Reform of the International Monetary System: Much Ado About Nothing? The World Economy, 37(1), 151–168. https://doi.org/10.1111/twec.12131</ref><ref>Otero‐Iglesias, Miguel, and Ming Zhang. "[https://s3.amazonaws.com/academia.edu.documents/30518663/China_the_euro_and_the_IMS_%28EUISS_MOI_2012%29.pdf?response-content-disposition=inline%3B%20filename%3DChina_the_Euro_and_the_Reform_of_the_Int.pdf&X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=AKIAIWOWYYGZ2Y53UL3A%2F20200308%2Fus-east-1%2Fs3%2Faws4_request&X-Amz-Date=20200308T213116Z&X-Amz-Expires=3600&X-Amz-SignedHeaders=host&X-Amz-Signature=f3f2939438ad31e999aeb905338597533c1972c9a4c2f38063cb53ff0d34c1f7 EU‐China collaboration in the reform of the international monetary system: much ado about nothing?]." The World Economy 37.1 (2014): 151-168.</ref>Mark Carney, the governor of the [https://en.wikipedia.org/wiki/Bank_of_England Bank of England] stated in August 2019 that there should be a new international monetary system that is not dependent on the dollar, while the Chinese central bank has asked the same for the last 15 years.<ref>“[https://www.bankofengland.co.uk/speech/2019/mark-carney-speech-at-jackson-hole-economic-symposium-wyoming The Growing Challenges for Monetary Policy in the Current International Monetary and Financial System - Speech by Mark Carney].” Bank of England, 13 August 2019.</ref><ref>Giles, Chris. “[https://www.ft.com/content/a775b55a-c5c2-11e9-a8e9-296ca66511c9 Mark Carney Calls for Global Monetary System to Replace the Dollar].” Financial Times, 23 Aug. 2019.</ref> Why previous international monetary systems, such as the [[International triumph of the gold standard: 1871 - 1914|gold standard]] and the [[Bretton Woods System: 1944 - 1973|Bretton Wood System]], broke down and who benefited from that and who lost out. Also, why is that [https://en.wikipedia.org/wiki/Donald_Trump President Trump] attacked the [https://en.wikipedia.org/wiki/European_Central_Bank European Central Bank] in September 2019?<ref>Arnold, Martin. “[https://www.ft.com/content/9b2c29c0-d53d-11e9-a0bd-ab8ec6435630 ECB Cuts Rates and Tells Governments to Act].” Subscribe to Read | Financial Times, Financial Times, 12 Sept. 2019.</ref><ref>Trump, Donald J. “[https://twitter.com/realdonaldtrump/status/1172120964232093697?lang=en European Central Bank, Acting Quickly, Cuts Rates 10 Basis Points. They Are Trying, and Succeeding, in Depreciating the Euro against the VERY Strong Dollar, Hurting U.S. Exports.... And the Fed Sits, and Sits, and Sits. They Get Paid to Borrow Money, While We Are Paying Interest!]” Twitter, Twitter, 12 Sept. 2019.</ref><ref>“[https://www.reuters.com/article/us-ecb-policy-usa/ecb-action-hit-by-trump-as-hurting-u-s-exports-ups-pressure-on-fed-idUSKCN1VX1JE ECB Action, Hit by Trump as 'Hurting U.S. Exports,' Ups Pressure on Fed].” Reuters, Thomson Reuters, 12 Sept. 2019.</ref> | A typical question in terms of the [[Money, Finance and the World Economy: 1974 - 2000|international monetary system]] and the [[Exchange rates and the foreign exchange market|exchange rate regime]] is why it is that China and the European Union today that want to reform the international monetary system.<ref>Otero-Iglesias, M., & Zhang, M. (2013). EU-China Collaboration in the Reform of the International Monetary System: Much Ado About Nothing? The World Economy, 37(1), 151–168. https://doi.org/10.1111/twec.12131</ref><ref>Otero‐Iglesias, Miguel, and Ming Zhang. "[https://s3.amazonaws.com/academia.edu.documents/30518663/China_the_euro_and_the_IMS_%28EUISS_MOI_2012%29.pdf?response-content-disposition=inline%3B%20filename%3DChina_the_Euro_and_the_Reform_of_the_Int.pdf&X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=AKIAIWOWYYGZ2Y53UL3A%2F20200308%2Fus-east-1%2Fs3%2Faws4_request&X-Amz-Date=20200308T213116Z&X-Amz-Expires=3600&X-Amz-SignedHeaders=host&X-Amz-Signature=f3f2939438ad31e999aeb905338597533c1972c9a4c2f38063cb53ff0d34c1f7 EU‐China collaboration in the reform of the international monetary system: much ado about nothing?]." The World Economy 37.1 (2014): 151-168.</ref> Mark Carney, the governor of the [https://en.wikipedia.org/wiki/Bank_of_England Bank of England] stated in August 2019 that there should be a new international monetary system that is not dependent on the dollar, while the Chinese central bank has asked the same for the last 15 years.<ref>“[https://www.bankofengland.co.uk/speech/2019/mark-carney-speech-at-jackson-hole-economic-symposium-wyoming The Growing Challenges for Monetary Policy in the Current International Monetary and Financial System - Speech by Mark Carney].” Bank of England, 13 August 2019.</ref><ref>Giles, Chris. “[https://www.ft.com/content/a775b55a-c5c2-11e9-a8e9-296ca66511c9 Mark Carney Calls for Global Monetary System to Replace the Dollar].” Financial Times, 23 Aug. 2019.</ref> Why previous international monetary systems, such as the [[International triumph of the gold standard: 1871 - 1914|gold standard]] and the [[Bretton Woods System: 1944 - 1973|Bretton Wood System]], broke down and who benefited from that and who lost out. Also, why is that [https://en.wikipedia.org/wiki/Donald_Trump President Trump] attacked the [https://en.wikipedia.org/wiki/European_Central_Bank European Central Bank] in September 2019?<ref>Arnold, Martin. “[https://www.ft.com/content/9b2c29c0-d53d-11e9-a0bd-ab8ec6435630 ECB Cuts Rates and Tells Governments to Act].” Subscribe to Read | Financial Times, Financial Times, 12 Sept. 2019.</ref><ref>Trump, Donald J. “[https://twitter.com/realdonaldtrump/status/1172120964232093697?lang=en European Central Bank, Acting Quickly, Cuts Rates 10 Basis Points. They Are Trying, and Succeeding, in Depreciating the Euro against the VERY Strong Dollar, Hurting U.S. Exports.... And the Fed Sits, and Sits, and Sits. They Get Paid to Borrow Money, While We Are Paying Interest!]” Twitter, Twitter, 12 Sept. 2019.</ref><ref>“[https://www.reuters.com/article/us-ecb-policy-usa/ecb-action-hit-by-trump-as-hurting-u-s-exports-ups-pressure-on-fed-idUSKCN1VX1JE ECB Action, Hit by Trump as 'Hurting U.S. Exports,' Ups Pressure on Fed].” Reuters, Thomson Reuters, 12 Sept. 2019.</ref> | ||
If we look at all of these things, international trade production, finance, what is their impact on domestic welfare systems and domestic politics? If you look at the history of that question in the 1920s and the 1930s, there were clashes between the rising union in trade unionism and socialism in the advanced countries and the gold standard. What explains that and how did that conflict play out historically; why is it that right populism like Trump today or like Marine Le Pen in France or other forces attack globalization and talk about economic nationalism? | If we look at all of these things, international trade production, finance, what is their impact on domestic welfare systems and domestic politics? If you look at the history of that question in the 1920s and the 1930s, there were clashes between the rising union in trade unionism and socialism in the advanced countries and the gold standard. What explains that and how did that conflict play out historically; why is it that right populism like Trump today or like Marine Le Pen in France or other forces attack globalization and talk about economic nationalism? | ||
Ligne 74 : | Ligne 46 : | ||
=Brief history of international political economy= | =Brief history of international political economy= | ||
==Prehistory== | ==Prehistory== | ||
Ligne 117 : | Ligne 88 : | ||
[[Fichier:Karl Marx 001.jpg|vignette|Karl Marx in 1875.]] | [[Fichier:Karl Marx 001.jpg|vignette|Karl Marx in 1875.]] | ||
The first obvious exception is the Marxists with the project to continue the work of [https://en.wikipedia.org/wiki/Karl_Marx Karl Marx] on the capital. Marxists authors produced a theory on the way capitalism works as a total social reality and not just as an economic system but as a social order in and of itself. Marx's critical theories about society, economics and politics – collectively understood as Marxism – hold that human societies develop through class struggle. In capitalism, this manifests itself in the conflict between the ruling classes (known as the bourgeoisie) that control the means of production and the working classes (known as the proletariat) that enable these means by selling their labour-power in return for wages.<ref>Marx, K. and Engels, F. (1848).''[https://www.marxists.org/archive/marx/works/1848/communist-manifesto/index.htm The Communist Manifesto]''</ref><ref name=":0">Wikipedia contributors. (2020, March 4). Karl Marx. In ''Wikipedia, The Free Encyclopedia''. Retrieved 17:26, March 9, 2020, from https://en.wikipedia.org/w/index.php?title=Karl_Marx</ref> Marxism has had a profound impact on global academia and has influenced many fields.<ref>O’Laughlin, B. (1975). Marxist Approaches in Anthropology. Annual Review of Anthropology, 4(1), 341–370. https://doi.org/10.1146/annurev.an.04.100175.002013</ref><ref>Roseberry, W. (1997). MARX AND ANTHROPOLOGY. Annual Review of Anthropology, 26(1), 25–46. https://doi.org/10.1146/annurev.anthro.26.1.25</ref><ref>Becker, S. L. (1984). Marxist approaches to media studies: The British experience. Critical Studies in Mass Communication, 1(1), 66–80. https://doi.org/10.1080/15295038409360014</ref><ref>Sheehan, H. (2007). Marxism and Science Studies: A Sweep through the Decades. International Studies in the Philosophy of Science, 21(2), 197–210. https://doi.org/10.1080/02698590701498126</ref> The term political economy initially referred to the study of the material conditions of economic production in the capitalist system. In Marxism, political economy is the study of the means of production, specifically of capital and how that manifests as economic activity.<ref name=":0" /> | The first obvious exception is the Marxists with the project to continue the work of [https://en.wikipedia.org/wiki/Karl_Marx Karl Marx] on the capital. Marxists authors produced a theory on the way capitalism works as a total social reality and not just as an economic system but as a social order in and of itself. Marx's critical theories about society, economics and politics – collectively understood as Marxism – hold that human societies develop through class struggle. In capitalism, this manifests itself in the conflict between the ruling classes (known as the bourgeoisie) that control the means of production and the working classes (known as the proletariat) that enable these means by selling their labour-power in return for wages.<ref>Marx, K. and Engels, F. (1848).''[https://www.marxists.org/archive/marx/works/1848/communist-manifesto/index.htm The Communist Manifesto]''</ref><ref name=":0">Wikipedia contributors. (2020, March 4). Karl Marx. In ''Wikipedia, The Free Encyclopedia''. Retrieved 17:26, March 9, 2020, from <nowiki>https://en.wikipedia.org/w/index.php?title=Karl_Marx</nowiki></ref> Marxism has had a profound impact on global academia and has influenced many fields.<ref>O’Laughlin, B. (1975). Marxist Approaches in Anthropology. Annual Review of Anthropology, 4(1), 341–370. https://doi.org/10.1146/annurev.an.04.100175.002013</ref><ref>Roseberry, W. (1997). MARX AND ANTHROPOLOGY. Annual Review of Anthropology, 26(1), 25–46. https://doi.org/10.1146/annurev.anthro.26.1.25</ref><ref>Becker, S. L. (1984). Marxist approaches to media studies: The British experience. Critical Studies in Mass Communication, 1(1), 66–80. https://doi.org/10.1080/15295038409360014</ref><ref>Sheehan, H. (2007). Marxism and Science Studies: A Sweep through the Decades. International Studies in the Philosophy of Science, 21(2), 197–210. https://doi.org/10.1080/02698590701498126</ref> The term political economy initially referred to the study of the material conditions of economic production in the capitalist system. In Marxism, political economy is the study of the means of production, specifically of capital and how that manifests as economic activity.<ref name=":0" /> | ||
In the Marxist tradition, we can notably cite two key authors. There is [https://en.wikipedia.org/wiki/Rudolf_Hilferding Rudolf Hilferding] who wrote ''Finance Capital'' | In the Marxist tradition, we can notably cite two key authors. There is [https://en.wikipedia.org/wiki/Rudolf_Hilferding Rudolf Hilferding] who wrote ''Finance Capital'' in 1910<ref>Rudolf Hilferding, [https://www.marxists.org/archive/hilferding/1910/finkap/ Finance Capital. A Study of the Latest Phase of Capitalist Development]. Ed. Tom Bottomore (Routledge & Kegan Paul, London, 1981)</ref><ref>Kowalik, T. (2014). Rudolf Hilferding’s Theory of Finance Capital. In Rosa Luxemburg (pp. 131–142). https://doi.org/10.1057/9781137428349_10</ref>, and [https://en.wikipedia.org/wiki/Rosa_Luxemburg Rosa Luxemburg], who wrote ''[https://en.wikipedia.org/wiki/The_Accumulation_of_Capital The Accumulation of Capital]'', first published in 1913, a book about imperialism within which she argues that capitalism needs to constantly expand into noncapitalist areas to access new supply sources, markets for surplus-value, and reservoirs of labor.<ref>Scott, Helen (2008). "Introduction to Rosa Luxemburg". The Essential Rosa Luxemburg: Reform or Revolution and The Mass Strike. By Luxemburg, Rosa. Chicago, IL: Haymarket Books. p. 18.</ref><ref>Wikipedia contributors. (2019, December 18). The Accumulation of Capital. In Wikipedia, The Free Encyclopedia. Retrieved 17:47, March 9, 2020, from https://en.wikipedia.org/w/index.php?title=The_Accumulation_of_Capital</ref> | ||
There is also [https://en.wikipedia.org/wiki/Vladimir_Lenin Lenin] who published in September 1917 his book ''[https://en.wikipedia.org/wiki/Imperialism,_the_Highest_Stage_of_Capitalism Imperialism, the Highest Stage of Capitalism]''. Drawing on the economic literature available to him in Zurich and drawing on the works of [https://en.wikipedia.org/wiki/J._A._Hobson John Atkinson Hobson] and [https://en.wikipedia.org/wiki/Rudolf_Hilferding Rudolf Hilferding] on imperialism, Lenin sets out his views on the recent transformations of capitalism and their political consequences in the context of the First World War.<ref>Géraldine Vaughan, Clarisse Berthezene, Pierre Purseigle, Julien Vincent, ''[https://books.google.fr/books?id=H9E1QwAACAAJ&dq=Le+Monde+britannique+1815-1931&hl=en&sa=X&ved=0ahUKEwiq1KL0pY7oAhUHzIUKHTr5AUQQ6AEIQDAC Le Monde britannique 1815-1931, Historiographie, Bibliographie, Enjeux]'', Belin, 2010, p. 11</ref> He argues that imperialism was a product of monopoly capitalism, as capitalists sought to increase their profits by extending into new territories where wages were lower and raw materials cheaper<ref>[https://www.marxists.org/archive/lenin/works/1916/imp-hsc/ Imperialism, the Highest Stage of Capitalism] by Vladimir Lenin at the [https://www.marxists.org/ Marxists Internet Archive]</ref><ref>Wikipedia contributors. (2020, February 24). Imperialism, the Highest Stage of Capitalism. In ''Wikipedia, The Free Encyclopedia''. Retrieved 20:56, March 9, 2020, from https://en.wikipedia.org/w/index.php?title=Imperialism,_the_Highest_Stage_of_Capitalism</ref> with imperialism, the highest (advanced) stage of capitalism, requiring monopolies (of labour and natural-resource exploitation) and the exportation of finance capital (rather than goods) to sustain colonialism, which is an integral function of said economic model.<ref>Paul Bowles (2007) ''Capitalism'', Pearson: London. pp. 91–93</ref><ref>[http://www.marxists.org/archive/lenin/works/1916/imp-hsc/ch03.htm ''Imperialism the Highest Stage of Capitalism'' III. Finance Capital and the Financial Oligarchy]</ref> ''Imperialism, the Highest Stage of Capitalism'' became a standard textbook and propelled Lenin has a central figure in the debate about imperialism. Therefore, for the Marxists, imperialism is a structural feature of capitalism. | There is also [https://en.wikipedia.org/wiki/Vladimir_Lenin Lenin] who published in September 1917 his book ''[https://en.wikipedia.org/wiki/Imperialism,_the_Highest_Stage_of_Capitalism Imperialism, the Highest Stage of Capitalism]''. Drawing on the economic literature available to him in Zurich and drawing on the works of [https://en.wikipedia.org/wiki/J._A._Hobson John Atkinson Hobson] and [https://en.wikipedia.org/wiki/Rudolf_Hilferding Rudolf Hilferding] on imperialism, Lenin sets out his views on the recent transformations of capitalism and their political consequences in the context of the First World War.<ref>Géraldine Vaughan, Clarisse Berthezene, Pierre Purseigle, Julien Vincent, ''[https://books.google.fr/books?id=H9E1QwAACAAJ&dq=Le+Monde+britannique+1815-1931&hl=en&sa=X&ved=0ahUKEwiq1KL0pY7oAhUHzIUKHTr5AUQQ6AEIQDAC Le Monde britannique 1815-1931, Historiographie, Bibliographie, Enjeux]'', Belin, 2010, p. 11</ref> He argues that imperialism was a product of monopoly capitalism, as capitalists sought to increase their profits by extending into new territories where wages were lower and raw materials cheaper<ref>[https://www.marxists.org/archive/lenin/works/1916/imp-hsc/ Imperialism, the Highest Stage of Capitalism] by Vladimir Lenin at the [https://www.marxists.org/ Marxists Internet Archive]</ref><ref>Wikipedia contributors. (2020, February 24). Imperialism, the Highest Stage of Capitalism. In ''Wikipedia, The Free Encyclopedia''. Retrieved 20:56, March 9, 2020, from <nowiki>https://en.wikipedia.org/w/index.php?title=Imperialism,_the_Highest_Stage_of_Capitalism</nowiki></ref> with imperialism, the highest (advanced) stage of capitalism, requiring monopolies (of labour and natural-resource exploitation) and the exportation of finance capital (rather than goods) to sustain colonialism, which is an integral function of said economic model.<ref>Paul Bowles (2007) ''Capitalism'', Pearson: London. pp. 91–93</ref><ref>[http://www.marxists.org/archive/lenin/works/1916/imp-hsc/ch03.htm ''Imperialism the Highest Stage of Capitalism'' III. Finance Capital and the Financial Oligarchy]</ref> ''Imperialism, the Highest Stage of Capitalism'' became a standard textbook and propelled Lenin has a central figure in the debate about imperialism. Therefore, for the Marxists, imperialism is a structural feature of capitalism. | ||
After the war, Marxist theory, to some extent, became subsumed under anti-colonial preoccupations and gave rise to the [https://en.wikipedia.org/wiki/Dependency_theory dependency theory]. Dependency theory was derived from Listian and Hamiltonian approaches to political economy. This theory was officially developed in the late 1960s following World War II, as scholars searched for the root issue in the lack of development in Latin America.<ref>{{Cite journal|last=Ahiakpor|first=James C. W.|date=1985|title=The Success and Failure of Dependency Theory: The Experience of Ghana|url=http://www.jstor.org/stable/2706689|journal=International Organization|volume=39|issue=3|pages=535–552|issn=0020-8183}}</ref> Dependency theory is, therefore, a Latin American phenomenon mostly because Latin America was the first segment of the old colonial world that became independent in the 19th century and so, theoretically, also was in the vanguard of the anti-colonial struggle.<ref>Wikipedia contributors. (2020, March 6). Dependency theory. In ''Wikipedia, The Free Encyclopedia''. Retrieved 21:22, March 9, 2020, from https://en.wikipedia.org/w/index.php?title=Dependency_theory</ref> For the dependency theory, these countries are integrated but are structurally placed in a state of continuous dependency by applying, for example, a ban on domestic production of products to be purchased from colonial companies. For André Gunder Frank, the dependence of the countries of the South can be explained historically by colonization (Asia, Africa, Latin America for example) and by unequal trade (by companies such as the Dutch East India Company or the English East India Company). For the Argentinean economist Raúl Prebisch, the wealth of rich countries is inversely proportional to that of poor countries. For dependency theorists, it is currently impossible for the countries of the South to develop without freeing themselves from the ties of dependency maintained with the North since the development of the countries of the North is based on the underdevelopment of those of the South. <ref>Théorie de la dépendance. (2019, September 3). ''Wikipédia, l'encyclopédie libre''. Page consultée le 01:30, September 3, 2019 à partir de http://fr.wikipedia.org/w/index.php?title=Th%C3%A9orie_de_la_d%C3%A9pendance</ref> | After the war, Marxist theory, to some extent, became subsumed under anti-colonial preoccupations and gave rise to the [https://en.wikipedia.org/wiki/Dependency_theory dependency theory]. Dependency theory was derived from Listian and Hamiltonian approaches to political economy. This theory was officially developed in the late 1960s following World War II, as scholars searched for the root issue in the lack of development in Latin America.<ref>{{Cite journal|last=Ahiakpor|first=James C. W.|date=1985|title=The Success and Failure of Dependency Theory: The Experience of Ghana|url=http://www.jstor.org/stable/2706689|journal=International Organization|volume=39|issue=3|pages=535–552|issn=0020-8183}}</ref> Dependency theory is, therefore, a Latin American phenomenon mostly because Latin America was the first segment of the old colonial world that became independent in the 19th century and so, theoretically, also was in the vanguard of the anti-colonial struggle.<ref>Wikipedia contributors. (2020, March 6). Dependency theory. In ''Wikipedia, The Free Encyclopedia''. Retrieved 21:22, March 9, 2020, from <nowiki>https://en.wikipedia.org/w/index.php?title=Dependency_theory</nowiki></ref> For the dependency theory, these countries are integrated but are structurally placed in a state of continuous dependency by applying, for example, a ban on domestic production of products to be purchased from colonial companies. For André Gunder Frank, the dependence of the countries of the South can be explained historically by colonization (Asia, Africa, Latin America for example) and by unequal trade (by companies such as the Dutch East India Company or the English East India Company). For the Argentinean economist Raúl Prebisch, the wealth of rich countries is inversely proportional to that of poor countries. For dependency theorists, it is currently impossible for the countries of the South to develop without freeing themselves from the ties of dependency maintained with the North since the development of the countries of the North is based on the underdevelopment of those of the South. <ref>Théorie de la dépendance. (2019, September 3). ''Wikipédia, l'encyclopédie libre''. Page consultée le 01:30, September 3, 2019 à partir de <nowiki>http://fr.wikipedia.org/w/index.php?title=Th%C3%A9orie_de_la_d%C3%A9pendance</nowiki></ref> | ||
So Marxism and dependency theory were one major exception to the way the study of economics and politics was organized in academia after the marginalist revolution. | So Marxism and dependency theory were one major exception to the way the study of economics and politics was organized in academia after the marginalist revolution. | ||
Ligne 131 : | Ligne 102 : | ||
[[File:Veblen3a.jpg|thumb|Thorstein Veblen.]] | [[File:Veblen3a.jpg|thumb|Thorstein Veblen.]] | ||
There is also the institutional economics tendency in the United States focusing on understanding the role of the evolutionary process and the role of institutions in shaping economic behavior. | There is also the institutional economics tendency in the United States focusing on understanding the role of the evolutionary process and the role of institutions in shaping economic behavior. Institutional economics emphasizes a broader study of institutions and views markets as a result of the complex interaction of these various institutions (e.g. individuals, firms, states, social norms).<ref>Wikipedia contributors. (2020, February 18). Institutional economics. In ''Wikipedia, The Free Encyclopedia''. Retrieved 21:40, March 9, 2020, from https://en.wikipedia.org/w/index.php?title=Institutional_economics</ref> | ||
The foundations of this approach were laid by [https://en.wikipedia.org/wiki/Thorstein_Veblen Thorstein Veblen] who wrote strings of books in the early 20th century (''[https://en.wikipedia.org/wiki/The_Theory_of_the_Leisure_Class The Theory of the Leisure Class]'', 1899, ''[https://en.wikipedia.org/wiki/The_Theory_of_Business_Enterprise The Theory of Business Enterprise]'', 1904), and gave rise to what is today institutional economics whose most recent notorious exponent was [https://en.wikipedia.org/wiki/Douglass_North Douglass North]. Veblen was a radical figure and is referred to as belonging to as the [https://en.wikipedia.org/wiki/Progressive_Era Progressive Era], while the late 19th century were the years of populism. As much as Veblen was an economist, he was also a sociologist who rejected his contemporaries who looked at the economy as an autonomous, stable, and static entity. Veblen disagreed with his peers, as he strongly believed that the economy was significantly embedded in social institutions.<ref>Wikipedia contributors. (2020, March 8). Thorstein Veblen. In Wikipedia, The Free Encyclopedia. Retrieved 21:56, March 9, 2020, from https://en.wikipedia.org/w/index.php?title=Thorstein_Veblen</ref><ref>Diggins, John P. (1978). The Bard of Savagery: Thorstein Veblen and Modern Social Theory. New York: Seabury Press.</ref> | The foundations of this approach were laid by [https://en.wikipedia.org/wiki/Thorstein_Veblen Thorstein Veblen] who wrote strings of books in the early 20th century (''[https://en.wikipedia.org/wiki/The_Theory_of_the_Leisure_Class The Theory of the Leisure Class]'', 1899, ''[https://en.wikipedia.org/wiki/The_Theory_of_Business_Enterprise The Theory of Business Enterprise]'', 1904), and gave rise to what is today institutional economics whose most recent notorious exponent was [https://en.wikipedia.org/wiki/Douglass_North Douglass North]. Veblen was a radical figure and is referred to as belonging to as the [https://en.wikipedia.org/wiki/Progressive_Era Progressive Era], while the late 19th century were the years of populism. As much as Veblen was an economist, he was also a sociologist who rejected his contemporaries who looked at the economy as an autonomous, stable, and static entity. Veblen disagreed with his peers, as he strongly believed that the economy was significantly embedded in social institutions.<ref>Wikipedia contributors. (2020, March 8). Thorstein Veblen. In Wikipedia, The Free Encyclopedia. Retrieved 21:56, March 9, 2020, from https://en.wikipedia.org/w/index.php?title=Thorstein_Veblen</ref><ref>Diggins, John P. (1978). The Bard of Savagery: Thorstein Veblen and Modern Social Theory. New York: Seabury Press.</ref> | ||
Ligne 143 : | Ligne 114 : | ||
[https://en.wikipedia.org/wiki/Ernst_B._Haas Ernst Hass] was a political scientist who wrote an early major work on European integration in the 1950s and then developed regional integration theory. He looked at the processes of economic integration notably in his book ''The Uniting of Europe'' published in 1958<ref>Haas, Ernst B. The uniting of Europe : political, social, and economic forces, 1950-1957. Notre Dame, Ind: University of Notre Dame Press, 2004. Print</ref><ref>Knorr, K. (1959). ERNST B. HAAS. The Uniting of Europe: Political, Social, and Economic Forces 1950-1957. Pp. xx, 552. Stanford: Stanford University Press, 1958. $8.00. The ANNALS of the American Academy of Political and Social Science, 324(1), 181–181. https://doi.org/10.1177/000271625932400163</ref><ref>Rosamond, B. (2005). The uniting of Europe and the foundation of EU studies: Revisiting the neofunctionalism of Ernst B. Haas. Journal of European Public Policy, 12(2), 237–254. https://doi.org/10.1080/13501760500043928</ref><ref>The Uniting of Europe: Political, Social, and Economic Forces, 1950–1957. By <italic>Ernst B. Haas</italic>. (Stanford, Calif.: Stanford University Press. 1958. Pp. xx, 552. $8.00.). (1959). The American Historical Review. https://doi.org/10.1086/ahr/64.3.629</ref><ref>Haas, E. B. (1967). THE UNITING OF EUROPE AND THE UNITING OF LATIN AMERICA. JCMS: Journal of Common Market Studies, 5(4), 315–343. https://doi.org/10.1111/j.1468-5965.1967.tb01153.x</ref> and article ''International Integration: The European and the Universal Process'' published in 1961.<ref>Haas, Ernst B. “International Integration: The European and the Universal Process.” International Organization, vol. 15, no. 3, 1961, pp. 366–392. JSTOR, https://www.jstor.org/stable/2705338.</ref> Ernst Haas has therefore made important contributions to theoretical discussions related to international relations and European integration. In this regard, he is the founder of [https://en.wikipedia.org/wiki/Neofunctionalism neo-functionalism] as an approach to the study of integration.<ref>Wikipedia contributors. (2016, April 1). Ernst B. Haas. In Wikipedia, The Free Encyclopedia. Retrieved 10:57, March 10, 2020, from https://en.wikipedia.org/w/index.php?title=Ernst_B._Haas</ref> | [https://en.wikipedia.org/wiki/Ernst_B._Haas Ernst Hass] was a political scientist who wrote an early major work on European integration in the 1950s and then developed regional integration theory. He looked at the processes of economic integration notably in his book ''The Uniting of Europe'' published in 1958<ref>Haas, Ernst B. The uniting of Europe : political, social, and economic forces, 1950-1957. Notre Dame, Ind: University of Notre Dame Press, 2004. Print</ref><ref>Knorr, K. (1959). ERNST B. HAAS. The Uniting of Europe: Political, Social, and Economic Forces 1950-1957. Pp. xx, 552. Stanford: Stanford University Press, 1958. $8.00. The ANNALS of the American Academy of Political and Social Science, 324(1), 181–181. https://doi.org/10.1177/000271625932400163</ref><ref>Rosamond, B. (2005). The uniting of Europe and the foundation of EU studies: Revisiting the neofunctionalism of Ernst B. Haas. Journal of European Public Policy, 12(2), 237–254. https://doi.org/10.1080/13501760500043928</ref><ref>The Uniting of Europe: Political, Social, and Economic Forces, 1950–1957. By <italic>Ernst B. Haas</italic>. (Stanford, Calif.: Stanford University Press. 1958. Pp. xx, 552. $8.00.). (1959). The American Historical Review. https://doi.org/10.1086/ahr/64.3.629</ref><ref>Haas, E. B. (1967). THE UNITING OF EUROPE AND THE UNITING OF LATIN AMERICA. JCMS: Journal of Common Market Studies, 5(4), 315–343. https://doi.org/10.1111/j.1468-5965.1967.tb01153.x</ref> and article ''International Integration: The European and the Universal Process'' published in 1961.<ref>Haas, Ernst B. “International Integration: The European and the Universal Process.” International Organization, vol. 15, no. 3, 1961, pp. 366–392. JSTOR, https://www.jstor.org/stable/2705338.</ref> Ernst Haas has therefore made important contributions to theoretical discussions related to international relations and European integration. In this regard, he is the founder of [https://en.wikipedia.org/wiki/Neofunctionalism neo-functionalism] as an approach to the study of integration.<ref>Wikipedia contributors. (2016, April 1). Ernst B. Haas. In Wikipedia, The Free Encyclopedia. Retrieved 10:57, March 10, 2020, from https://en.wikipedia.org/w/index.php?title=Ernst_B._Haas</ref> | ||
Carl Deutsch wrote a significant study of the way political integration takes place in the 1950s. Those authors are neo-functionalist theorists of the European integration and inspired notably Robert Keohane in Joseph Nye. | |||
Then there is one major exception with John Maynard Keynes, who was an economist, and a policymaker. Keynes developed the premises of what later became Keynesianism, which is a revised version of neoclassical economics in particular about the way the macroeconomy works. | |||
However, Keynes spent a lot of his energy in the 1920s writing political tracts attacking the policies that were pursued by the major powers in Versailles and then in the 1920s in terms of their domestic and foreign economic policies. Keynes was the first one in the 1920s to say that the structures of the classical era should not be reproduced because there were shifts in domestic political economies. | |||
Alongside Keynes, there is Jacob Viner who was an American economist in the US Treasury Department, and Charles Kindleberger, a historian who started his career as an advisor to the US Treasury in the 1940s. Kindleberger would then become one of the major administrators of the Marshall Plan, the plan that the United States came up with to reconstruct Western Europe after the Second World War. Kindleberger is a significant figure in early international political because he wrote the classical analysis of why global capitalism broke down in the 1930s and then he came up with the first major global theory in international political theory that structured the debate. | |||
Alongside Keynes, there is | |||
==Birth of the discipline of International Political Economy== | ==Birth of the discipline of International Political Economy== | ||
Why was international political economy born in the early 1970s? The first thing is the historical context of the early seventies | Why was international political economy born in the early 1970s? The first thing is the historical context of the early seventies which highlighted the accent to which the structure of the international economy could not be understood without reference to international politics. | ||
The | The Bretton Woods system was fracturing. There was a dollar crisis in 1968–1971, which saw the collapse of the international monetary system in 1971–1973. There were the oil shocks of 1973 and 1978. There was also a revival of Western Europe in Japan, and there was the interference of growing international economic flows in particular capital flows with domestic policies particular after the Bretton Woods monetary system broke down. | ||
That context led scholars, in economic and political science discipline but also from history economic to attempt to bridge the gap between international politics and international economics. They saw themselves as intellectual entrepreneurs who wanted to create something new. | |||
The discipline was born independently at the same time both in the United Kingdom and the United States. Of course, the developments in the United States are more relevant and also the course here at the University of Geneva is much more aligned on development in the American trends of international political economy. | |||
In the United States, two scholars were instrumental. Those were Robert Keohane and Joseph Nye, the author of the concept of soft power from the early 1990s. They are political scientists, who were influenced by the functionalists and took over the journal International Organization in the early 1970s and shifted its focus away from the study of international organizations to the study of international political economy. They organized two key conferences, and specifically, that dealt with world politics and the concept of interdependence. After 1975, International Organization becomes the main venue for international political economy in the United States. International political economy is more or less identified with the journal to the extent that some people refer to as the American School as the International Organization School. | |||
Pretty much at the same time in the United Kingdom. Susan Strange who was a professor of international relations in the London School of Economics wrote Mutual Neglect in 1970 which was a kind of manifesto calling for international economists and international political scientists to work together and to try and bridge the gap between the two disciplines. | |||
==EVOLUTION== | |||
How those two schools developed? Murphy and Nelson in xxxx published in 2001 refer to the development of the international political economy as a tale of two heterodoxies. Why heterodoxy? Because international was heterodox in relation, both to mainstream economic and to mainstream political science. | |||
Despite that, in recent years, over the last two decades, more or less, the American international political economy has tried to mimic the methods of mainstream economics. | |||
There are very broad divergences in the sense that American international political economy is very much state-centric and conceives of itself as a branch of international relations. International political economy is considered as the political economy of international relations in the United States. It is state-centric with the main preoccupation to determine how states behave in terms of international economics. American international political economy is suspicious of normative judgements. It is more preoccupied with explaining how the system works rather than with criticizing the way the system works and prescribing alternative ways in which the system should work. It has tried since the mid-1980s more or less to mimic the positivist and quantitative bias that is a methodological hallmark of mainstream political science in particular mainstream economics, and neoclassical economics. | |||
If you read Benjamin Cohen who was one of the major characters in developments of international political economy from the early 1970s, he explained this by saying that it is because, from the mid-1980s, international political economy authors wanted to enjoy the same kind of prestige. So they try to mimic their methods their methodologies in order to advance their careers. | |||
British international political economy is the opposite on pretty much every score. | British international political economy is the opposite on pretty much every score. British international political economy refers to itself as the global political economy, to begin with, and not the international political economy most of the time. Again because global and not international because it is not state-centre. It is very much preoccupied with the erosion, the place that the state occupies within the international system and the rise of importance of non-state actors in the international system works. | ||
British international political economy is also the home for contemporaries. British international political economy is a broad church in terms of methods and terms of schools of thoughts. It is methodologically and thematically eclectic, and it looks at all kinds of issues with our drawing limits. | British international political economy is also the home for contemporaries. British international political economy is a broad church in terms of methods and terms of schools of thoughts. It is methodologically and thematically eclectic, and it looks at all kinds of issues with our drawing limits. British international political economy does not consider itself as a branch of international relations. Thus, in many places in the United Kingdom, international political economy is stored into departments that do not teach international relations. Moreover, the British international political economy has a much more ambitious agenda in the sense that it introduced the concept of globalization but also approaches such environmental culture and feminist political economy. | ||
==Old vs New International Political Economy== | ==Old vs New International Political Economy== | ||
American international political economy can be split up into the old and the new international political economy. | American international political economy can be split up into the old and the new international political economy. The old international political economy based itself on methodologically loose attempts and holistic understandings of the international political economy. From that, the old international political economy of the 1970s gradually moved towards a more positivist and behavioralist direction. From the mid-1980s, international political economy became mainly concerned with positivist explorations of the individual dimensions of the system or with what some authors refer to as Mertonian middle-range theory. There is also a shift from qualitative to quantitative methodologies. | ||
The primary debate in the old international political economy was the debate about complex interdependence, hegemonic stability theory and hegemonic decline. There was a major debate about whether the United States was in hegemonic decline in the late 1970s and 1980s, and another one about international organizations and the governance of the global system. The main focus of the discipline was the international level. | The primary debate in the old international political economy was the debate about complex interdependence, hegemonic stability theory and hegemonic decline. There was a major debate about whether the United States was in hegemonic decline in the late 1970s and 1980s, and another one about international organizations and the governance of the global system. The main focus of the discipline was the international level. | ||
The main aspects of the new international political economy focus on the domestic sources of foreign economic policy. In contrast, the new international political economy attempts to determine the relationships between key individuals, political, and economic variables in the system. | The main aspects of the new international political economy focus on the domestic sources of foreign economic policy. In contrast, the new international political economy attempts to determine the relationships between key individuals, political, and economic variables in the system. | ||
Keohane, who was the founder of the old international political economy, in 2009 in the article X sustained attention to issues of structural power and the synthetic interpretation of change. There are debates within the American international political economy itself about which direction the discipline should take. | |||
Opening economy politics is the name given by contemporary practitioners of American international political economy to their approach. The main idea is that today international political economy tries to determine the relationships between three distinct variables, namely domestic interests, domestic and international institutions, and international bargaining between states. For contemporaries, the combination of those three variables determined the way the international political economy functions. | |||
The key people in the old international political economy were Robert Keohane, a political scientist and neoliberal institutionalist. There is also Stephen Krasner more a neorealist. Peter Katzenstein was credited with introducing the issues of domestic variables and ideational variables into the study of international political economy in the early 1980s. There is Charles Kindleberger and also Robert Gilpin who wrote a string of books that became classic. | |||
Americans are almost exclusively in international relations, and most come from Ivy League universities. Furthermore, it is very much a group of people who are associated with a legit university in the United States. They are very close to policymaking circles as well, whereas actors in the British international political economy come from all over the place. Two institutions are particularly important in the field of international political economy: one is the London School of Economics obviously, and the other one is the University of Warwick. Authors in British international economy come from different horizons. There are also the Canadians who try to bridge the gap between the Americans the British. | |||
This illustration shows the way international relations as a discipline has developed since the Second World War. We can see how gradually since the 1970s and the emergence of international political economy, there is a decline of neoliberalism. | |||
Since the 1970s there has been a debate between the rationalists and the constructivists. In the 1990s there is the emergence of the constructivist school of thought which in by contradictions to the rationalists posits that ideas have an independent influence on the way processes are now coming in international relations happen. The new realists, the new Marxists, the constructivists try to identify the independent influence of ideas, norms, and how it influences the way the international system works. | |||
=Annexes= | =Annexes= | ||
=References= | =References= |