International Political Economy: Contrasting World Views

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Overview

This textbook is the perfect short introduction to the fundamental theories and issues of international political economy (IPE).

Written in a concise and accessible style, the text equips students with the necessary skills and knowledge to understand this complex and fascinating area. Engaging with both classical theories and the main contemporary debates, this is the ideal starting point for the study of IPE.

The text introduces students to the three main theoretical approaches in IPE: free market, institutionalist and historical materialist. The strengths and weaknesses of the theories are then illustrated by a series of fascinating applied case studies in such core areas as international trade, finance, transnational corporations, development and the environment.

Combining clear historical and theoretical explanation with detailed empirical examples this is essential reading for students of international political economy, global governance and international economics.
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Editorial Reviews

From the Publisher
'A landmark book by one of the most prominent scholars on political economy, International Political Economy is a must-read on economic development for researchers, students, and policy makers, especially for its penetrating critique of conventional economic thinking on development. His thorough treatment of multiple perspectives makes the book useful to interdisciplinary social scientists as well as political economists.' - William H. Newell, Executive Director, Association for Integrative Studies & Professor of Interdisciplinary Studies, Miami University, Oxford, Ohio, USA

'Ray Miller carefully outlines three competing visions of international political economy. He is admirably fair in his treatment of each, carefully outlining their strengths and weaknesses. The scholarship is impressive: Ray Miller clearly knows what he is talking about. The writing is crisp and clear. No other text in the field comes close to providing such a detailed and even-handed treatment of these three visions. Students using this text should thus be able to choose among these perspectives on their merits, and indeed integrate elements of each in order to generate a more holistic and nuanced understanding of IPE.' - Rick Szostak, Professor of Economics, University of Alberta, Canada

'This is a textbook that will be appreciated by both teachers and students of international political economy. It helps readers to make critical sense of the field by carefully "unpacking" the assumptions that underlie major schools of thought in IPE and explaining how the assumptions of each school connect to their analyses and policy prescriptions. Its full discussion of Keynesian perspectives, as well as its treatment of vital global environmental issues and critical "green IPE" perspectives - shortchanged in many other texts - make it an excellent choice for undergraduate courses.' - Glenn Fieldman, Assistant Professor of Environmental Studies, San Francisco State University, USA

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Product Details

  • ISBN-13: 9780415384094
  • Publisher: Taylor & Francis
  • Publication date: 8/28/2008
  • Edition description: New Edition
  • Pages: 296
  • Sales rank: 1,004,438
  • Product dimensions: 6.10 (w) x 9.10 (h) x 0.70 (d)

Meet the Author

Raymond C. Miller has been national president of two professional associations: the Association for Integrative Studies and the Society for International Development. He was founding editor of Issues in Integrative Studies. Professor Miller served as a member of the faculty at San Francisco State University for 43 years, where he is now Professor Emeritus of International Relations and Social Science.

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Table of Contents

1. The Field of Study Known as 'IPE' 1.1 Long-Distance Trade 1.2 First Global Economy 1.3 Mercantilism 1.4 Triangular Trade 1.5 Industrial Revolution Adam Smith 1.6 Key Ideas 1.7 Father of Economics 1.8 Ricardo, Marx and Classical Political Economy 1.9 Globalization and the Revival of IPE 2. Formal Definition 2.1 Strategy of Text 2. The Market Model and World View 2.2 Neoclassical Economics vs. Classical Political Economy 2.3 Premises of the Market Model 2.4 Interactions Within the Market Model (Diagram) 2.5 Roles 2.6 Supply and Demand 2.7 Counter Flows 2.8 Capital Investment 2.9 Bonds and Stocks 3. Logical Consequences of the Market Model 3.1 Answers to Basic Economic Questions 3. Market Applications National Income and Product Accounts 3.2 International Trade and the Market 3.3 Comparative Advantage (Bar Graph) 3.4 Neo-Mercantilism 3.5 World Trade Organization 3.6 Balance of Payments 3.7 Foreign Exchange and the International Monetary Fund 3.8 Gold Standard and the Bretton Woods System 3.9 Monetary Policy 4. Invention of Banks 4.1 Fractional Reserve Banking System (Expansion Diagram) 4.2 Federal Reserve System 4.3 Instruments of Monetary Policy 4.4 Third World Debt Crisis 4.5 Monetarism 4.6 The Keynesian Revolution and Fiscal Policy 4.7 Low Level Equilibrium Trap vs. The Conventional Market Model 4.8 Keynesian Solution for the Great Depression 4.9 Compensatory Fiscal Policy and its Problems 5. World Bank 5.1 Global Connections (Diagram) 4. The Multi-Centric Organizational (MCO) World View 5.4 The Veblen and Polanyi Institutionalist Challenge to the Market Model 5.5 The Sraffa Neo-Ricardian Critique 5.6 The Galbraith Critique and Alternative 5.7 The Multi-Centric Organizational Model 5.8 Premises 5.9 Interactions 6. Outcomes 6.1 Summary Comparison Between the MCO and Market Models 6.2 A Better Way? 5. The MCO World View – Critical Applications 6.3 Problems of 'Free Trade' (Prebisch, Batra, Sraffa, etc.) 6.4 The Global Casino (Strange, Ingham, etc.) 6.5 Ecological Degradation (Daly, etc.) 6.6 Corporate Colonialism (Korten, etc.) 6.7 The MCO Reformist Agenda 6. The Classical Marxist Model and World View 6.8 Background 6.9 Premises of the Classical Marxist Model (Dialectical Materialism) 7. Interactions of the Classical Marxist Model 7.1 Mode of Production 7.2 Historical Materialism 7.3 Capitalist Mode of Production 7.4 Outcomes 7.5 Capitalist Mode of Production 7.6 Classical Marxist Model 7. Contemporary Applications of Marxist Analysis 7.7 Disclaimers (Stalinism, World Systems Theory, Dependency Theory) 7.8 Imperialism: Old and New (Lenin and Gramsci) 7.9 Regulation Theory (Social Structures of Accumulation) 8. Feminism and Marxism (V. Spike Peterson) 8. Clashing Views on Central Issues: A Summation 8.1 International Trade and Trade Agreements 8.2 Market Approach 8.3 MCO Approach 8.4 Marxist approach 8.5 Transnational Corporations 8.6 Market Approach 8.7 MCO Approach 8.8 Marxist Approach 8.9 Global Finance 9. Market Approach 9.1 MCO Approach 9.2 Marxist Approach Environment and Development 9.3 Market Approach 9.4 MCO Approach 9.5 Marxist Approach 9.6 Glossary 9.7 Index

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