Frieden Jeffry A(Editor) - International Political Economy: Perspectives on Global Power and Wealth

INTERNATIONAL POLITICAL ECONOMY

PERSPECTIVES ON GLOBAL POWER AND WEALTH

FOURTH EDITION

Jeffry A.Frieden

Harvard University

David A.Lake

University of California, San Diego

For Bedford/St. Martins

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First published 2000 by Routledge

Published 2014 by Routledge

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Library of Congress Catalog Card Number: 9962343

Copyright 2000 by Bedford/St. Martins

All rights reserved. No part of this book may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, except as may be expressly permitted by the applicable copyright statutes or in writing by the Publisher.

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ISBN 13: 978-0-415-22279-2 (pbk)

Acknowledgments

Acknowledgments and copyrights appear at the back of the book on , which constitute an extension of the copyright page.

It is a violation of the law to reproduce the selections in this book by any means whatsoever without the written permission of the copyright holder.

PREFACE

The readings in International Political Economy: Perspectives on Global Power and Wealth are primarily intended to introduce the study of international political economy to those with little or no prior knowledge of it. The book is designed for use in courses in international political economy, international relations, and international economics. The selections present both clear and identifiable theoretical arguments and important substantive material. Fifteen of the 31 articles are new to this fourth edition of our book, and the theoretical approach has been updated to reflect the changing state of both the world and the field of international political economy.

Although the selections can be read in any order, they are grouped in seven parts, which reflect some of the more common organizing principles used in international political economy courses. Each part begins with an introduction by the editors that provides background information and highlights issues raised in the readings. Each reading is preceded by an abstract summarizing its specific arguments and contributions. The readings were edited to eliminate extraneous or dated information, and most footnotes were removed.

The introduction defines the study of international political economy, summarizes major analytical frameworks in the field, and identifies several current debates. In earlier editions, the introduction and readings were largely structured around three analytic perspectives: Realism, Marxism, and Liberalism. This framework is substantially downplayed in this edition. The field of international political economy has made significant progress over the last two decades, and this divisionwhile useful as a pedagogic devicehas become increasingly obsolete. To capture the most important work and current debates in the international political economy, we now highlight the analytic tensions between international and domestic explanations, on the one hand, and institutionalistand society-centered explanations, on the other. These two dimensions create four distinct views, which we refer to as the international political, international economic, domestic institutionalist, and domestic societal approaches. presents examples of these different perspectives on international political economy. The readings in this part are intended to suggest the underlying logic and types of arguments used by proponents of each approach. Although they are representative of their respective schools, they do not necessarily capture the wide range of opinion within each approach.

, which reviews the history of the international economy since the nineteenth century, provides the background and perspective necessary to understand the contemporary international political economy. The selections describe the major developments in the history of the modern international economy from a variety of different theoretical viewpoints.

The remainder of the book is devoted to the modern international political economy. Separate sections on production, money and finance, and trade look at the principal broad issue areas associated with the politics of international economic relations. examines current problems in the politics of international economics.

The selections in this volume have been used successfully in our courses on international political economy at the University of California, Los Angeles; Harvard University; and the University of California, San Diego (UCSD). In our own research, we approach the study of international political economy from very different perspectives. Yet we find that this set of readings accommodates our individual approaches to the subject matter while simultaneously covering the major questions of the field.

For this edition, Patricia Lindenboim and Michael Spence at Harvard and Angela OMahony at UCSD provided valuable research and editorial assistance. Leslie S.Connor of Stratford Publishing Services prepared the manuscript for publication. We want to thank our respective spouses, Anabela Costa and Wendy K.Lake, for their continuing encouragement.

Jeffry A.Frieden
David A.Lake

CONTENTS

STEPHEN D.KRASNER

BARRY EICHENGREEN

DOUGLASS C.NORTH

SUSAN STRANGE

CHARLES P.KINDLEBERGER

PETER ALEXIS GOUREVITCH

International Investment and Colonial Control: A New Interpretation

JEFFRY A.FRIEDEN

DAVID A.LAKE

RICHARD E.CAVES

SHAH M.TARZI

DAVID FIELDHOUSE

JEFFREY A.HART AND ASEEM PRAKASH

LAWRENCE BROZ

BARRY EICHENGREEN

BENJAMIN J.COHEN

JEFFRY A.FRIEDEN

CHARLES WYPLOSZ

The Obsolescence of Capital Controls? Economic Management in an Age of Global Markets

JOHN B.GOODMAN AND LOUIS W.PAULY

CLETUS C.COUGHLIN, K.ALEC CHRYSTAL, AND GEOFFREY E.WOOD

RONALD ROGOWSKI

JAMES E.ALT AND MICHAEL GILLIGAN

RICHARD B.FREEMAN

EDWARD D.MANSFIELD AND MARC L.BUSCH

RONALD W.COX

JOSEPH E.STIGLITZ AND LYN SQUIRE

ROBIN BROAD, JOHN CAVANAGH, AND WALDEN BELLO

JEFFREY A.WILLIAMSON

STEPHAN HAGGARD

VII CURRENT PROBLEMS IN INTERNATIONAL POLITICAL ECONOMY

ALISON BUTLER

PHILIP G.CERNY

DANI RODRIK

ABOUT THE EDITORS

Jeffry A.Frieden (Ph.D., Columbia University) is professor of government at Harvard University. He specializes in the political economy of international monetary and financial relations. His book publications include