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Title: Global Political Economy: Understanding the International Economic Order by Robert Gilpin, Jean M. Gilpin ISBN: 0-691-08677-X Publisher: Princeton University Press Pub. Date: 20 February, 2001 Format: Paperback Volumes: 1 List Price(USD): $22.95 |
Average Customer Rating: 4.67 (6 reviews)
Rating: 4
Summary: complex but more depth wold be desirable
Comment: Gilpin'book is a quite complex survey on the functioning of the global economy. However, taking such a broad issue in the limitid scope of the book allows him not to analyze the topic in the broader detail. What I find interesting is that the author asserts the world economy is dominated by the United States and they are maintaining their dominance by certain privileges: dominance of US dollar in the international monetary system, creating the international financial architecture with controling its institutions and making the rules of the international trading system. He employs for this setting the international regime, whose main attribute is the presence of the hegemon in the background of the system. He realistically analyzes the position of nation-state in contemporary world economy. He originally finds the new roles for the nation-state as growth promoter of high-tech industries, constructer of the international trade and financial regime. He puts evidence of the continuing differences between three models of capitaism: that of Germany, USA and Japan. In the analysis of the relationship between MNCs and the nation-states he asserts the depence of the former on latter and not conversely as frequently claimed. In every chapter he provides the range of opinions on each particular segment of GPE and combines it with his own view, trying to pick up the best from each of the political economy branches. However, in the chapters about international trading, financial and monatary system I miss a more deep and sophisticated perspective about future development.
Rating: 5
Summary: Robert Gilpin's Global Political Economy
Comment: This is an outstanding update of the author's earlier book, The Political Economy of International Relations (1987). It is meant to complement Gilpin's more recent work, The Challenge of Global Capitalism (2000). In Global Political Economy, Gilpin discusses a wide range of theories in the field combining careful textual analysis with advocacy of his own views. The author's own theoretical stance is one of "state-centric realism." He identifies with authors like Thucydides, Machiavelli, and Hans Morgenthau, but not with what he calls the "systemic realism" of authors like Kenneth Waltz. While he admires and uses the work of contemporary economists, he also carefully differentiates his approach from theirs (in Chapter 3). Except for a brief acknowledgement of the difficulty of explaining European integration in state-centric realist terms (in Chapter 13) and a bit of defensiveness on the continued value of theories of hegemonial stability (in Chapter 4), Gilpin does a good job of defending his views.
The author does an excellent job of surveying recent work in economics without resorting to jargon. There are outstanding treatments of topics like the continued relevance of Heckscher-Ohlin trade theory, strategic trade, endogenous growth theory, and the new economic geography. The discussion of the globalization of international finance in Chapter 10 emphasizes the need to take into account the "increased interdependence of trade, monetary, and other aspects of the international economy" that results from "[m]ovement toward a single, globally integrated market for corporation ownership" (277). Chapter 11 provides a state-of-the-art discussion of the role of multinational corporations in the world economy. Chapter 12 does a fine job of discussing the likely future of theories of the developmental state in light of the Asian Crises of the late 1990s. The final chapter lays out three major scenarios for governance of the world economy, informed as always by the author's realist views.
This book is long and dense. There are few wasted or unnecessary words. It is not easy to read. However, it could be used for graduate seminars or upper-division undergraduate courses in international political economy in conjunction with texts that are more empirical or descriptive in their treatment of international political economy.
Global Political Economy is an excellent book. It represents a major and successful updating of The Political Economy of International Relations. Any person interested in international political economy can profit from reading it.
Rating: 5
Summary: An i.p.e. "must."
Comment: Gilpin's survey offers undergrads an introduction to globalization by discussing the substance and the theoretical debates on "What is political economy," international trade and finance, MNCs, and the role of the state and international institutions. I found its chapters worked great with students when combined with a relevant current events article from the Economist or FT, for example. For graduate students and other professionals new to i.p.e., it provides a summary or introduction to several important debates, with direction to the original texts and critics - useful that way as a primer or a reference book. (February 2002)
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Title: Globalization and Its Discontents by Joseph E. Stiglitz ISBN: 0393324397 Publisher: W. W. Norton & Company Pub. Date: April, 2003 List Price(USD): $15.95 |
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Title: The Political Economy of International Relations by Robert Gilpin ISBN: 0691022623 Publisher: Princeton University Press Pub. Date: 01 June, 1987 List Price(USD): $24.95 |
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Title: The Challenge of Global Capitalism: The World Economy in the 21st Century by Robert Gilpin ISBN: 0691092796 Publisher: Princeton University Press Pub. Date: 01 January, 2002 List Price(USD): $22.95 |
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Title: International Political Economy by Jeffry A. Frieden, Frieden, David A. Lake ISBN: 0312189699 Publisher: Wadsworth Publishing Company Pub. Date: 13 August, 1999 List Price(USD): $53.95 |
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Title: Globalizing Capital by Barry Eichengreen ISBN: 0691002452 Publisher: Princeton University Press Pub. Date: 13 July, 1998 List Price(USD): $23.95 |
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