States Versus Markets

Now in its fourth edition, this highly regarded and critically acclaimed textbook offers an authoritative introduction to international political economy. It is unique in offering an accessible, broad introduction to the development of the global economy from its inception to today's complex relationship between states and markets in the midst of economic crises.Herman Mark Schwartz deftly shows that globalization is not a novel phenomenon but a recurrent process whereby markets have, since the 16th century, periodically redistributed economic activity. It links the production of goods and services in one region to the markets for those goods, and shows how this can lead to conflicts among states that try to create, enhance or subdue the markets.Taking into account the continued rise of China, and the recent shift towards populism in the West, this book has been extensively rewritten and updated throughout. This is a thought-provoking text which will encourage upper level undergraduate and postgraduate students to think analytically about the inevitability of a global market influencing a state's policies and geo-economic position and to locate their own thinking within the IPE tradition.New to this Edition:- Thoroughly updated to cover all major developments in global political economy since the financial crisis- Timelines in most chapters show key events in the evolution of the global economy- Offers a particularly clear account, now with chapter summaries, updated examples and a glossary of key terms

Introduction PART I: STATES, AGRICULTURE, AND GLOBALIZATION Chapter 1. The Rise of the Modern State Chapter 2. European Mafias Abroad Chapter 3. States, Markets, and the Origins of International Inequality Chapter 4. Economic and Hegemonic Cycles Chapter 5. The Industrial Revolution and Late Development Chapter 6. Agricultural Exporters and the Search for Labour Chapter 7. Agriculture-Led Growth and Crisis in the Periphery Chapter 8. The Collapse of the Nineteenth-Century Economy PART II THE RISE AND FALL AND RISE AGAIN OF GLOBALIZATION Chapter 9. Depression 2.0, US Domestic Politics, and the Foundation of the Post-World War II System Chapter 10. International Money, Capital Flows, and Domestic Politics Chapter 11. Transnational Firms Chapter 12. Industrialization in the Old Agricultural Periphery Chapter 13. Trade and the rise and fall of Globalization 2.0 Chapter 14. US Hegemony From Below Chapter 15. US Hegemony and Global Stability