States Versus Markets: The Emergence of a Global Economy / Edition 3

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Drawing on a board-ranging reassessment of the historical and spatial evolution of the world economy. Herman Schwartz shows how the twenty-first-century world has come to resemble the late nineteenth century, in which markets typically drove economic outcomes and generated large-scale financial crises, more than the mid-twentieth century, in which states were often able to control or contain markets. In so doing the shows that globalization is a much longer-term and more multifaceted phenomenon than its current protagonists generally argue and provides a particularly clear account of the complex interdependence of modern states and modern markets.

This new edition expands coverage of Asian development and global integration, especially that of China. It also considers the causes and consequences of the global financial crisis.

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Product Details

  • ISBN-13: 9780230521339
  • Publisher: Palgrave Macmillan
  • Publication date: 1/5/2010
  • Edition description: Third Edition
  • Edition number: 3
  • Pages: 368
  • Product dimensions: 6.20 (w) x 9.30 (h) x 1.00 (d)

Meet the Author

HERMAN M. SCHWARTZ Professor of Politics, University of Virgnia, USA.

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Table of Contents

List of Tables viii

List of Figures ix

List of Abbreviations x

Preface xi

Introduction 1

Part I States, Agriculture, and Globalization

1 The Rise of the Modern State: From Street Gangs to Mafias 11

2 States, Markets, and the Origins of International Inequality 43

3 Economic and Hegemonic Cycles 64

4 The Industrial Revolution and Late Development 79

5 Agricultural Exporters and the Search for Labor 103

6 Agriculture-Led Growth and Crisis in the Periphery: Ricardian Success, Ricardian Failure 123

7 The Collapse of the Nineteenth-Century Economy: The Erosion of Hegemony? 147

Part II The Fall and Rise and Fall Again of Globalization

8 The Depression, US Domestic Politics, and the Foundation of the Post-World War II System 177

9 International Money, Capital Flows, and Domestic Politics 198

10 Transnational Firms: A War of All against All 219

11 Industrialization in the Old Agricultural Periphery: The Rise of the Newly Industrialized Countries 236

12 Trade, Protection, and Renewed Globalization 263

13 US Hegemony: Declining from Below? 282

14 US Hegemony and Global Stability: Reviving or Declining from the Top Down? 302

Bibliography 323

Index 339

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