Global Political Economy

by: John Ravenhill >>>>>> 6th edition

1. Theoretical Approaches to Global Political Economy
2. Global Trade
3. Global Finance
4. Globalization and its consequences

most of the contemporary work in IPE focuses on positive theory that is attempting to explain why things happen, rather than on policy prescription.

• The contemporary System is more closely intergrated than in any previous area.
• The modern world economy came into existance in the fifteenth and sixteenth centuries
• advances in technology were the main driving force behind the integration of markets, and they facilitated the enormous growth in investment and migration in the nineteenth century.
• state did not negotiate any significant institutionalization of international economic relations in the inter-war period
• the field of international political economy emerged in the early 1970s in response to developments in the world economy, in international security, and in the study of economics and international relations.
• IPE is the best defined  by its matter rather than as a particular theory or methodologi.
• the contemporary study of IPE is characterized by the application of a wealth of theories and methodologies.

•  THEORETICAL TRADITION IN GLOBAL POLITICAL ECONOMY
• introductory IPE teaching usually revolves around a presumed trichotomy which defines the field, liberalism versus realism vs marxism
• the TRICHOTOMY are often presented as ideologies (requiring true believers) rather than as theories (requiring constant reflection and formulation).
• the international trade regime based on three components: trade, national regulations, and international agreements.

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