Overview

The book covers some of the most exciting concepts in world politics – how to connect the production of goods and services in one region to the markets for those goods, and how this can lead to conflicts among states that try to create, enhance or subdue these markets. Fundamentally, it seeks to answer an enduring question in world politics – which has more power, states or markets? This fifth edition examines globalization as a recurrent process by which markets have periodically redistributed economic activity. It links the regional production of goods and services with markets located elsewhere, showing how this can lead to conflicts among states. Taking into account the Covid-19 pandemic and the consequences of the recent revival of industrial policy, as well as the both Chinese and American efforts to redefine the Washington consensus, this book offers coverage of the latest developments in global political economy, offering: - Increased emphasis on de-globalizaition/slo-balization - New chapter on migration migration and labour exploitation - Discussion of the long-term fallout of the 2008 financial crisis - How Covid-19 exposed the fragility of supply chains - The debate about the rising income of the global middle class - More discussion of the role of multinational and transnational companies and associated controversies – regulatory arbitrage and tax avoidance, e.g. Apple and anti-competition - The role of ICT, AI and biotechnology This is the ideal text for upper level undergraduate and postgraduate students looking to analyse the influence of global markets on state policies and geo-economic position.

Full Product Details

9781350458369

Table of Contents

Reviews

The book provides a clear analysis of the ways in which states and markets developed and interacted over time. It combines relevant theory and adopts a truly global perspective in a way which helps explain the background to current international economic and political trends. * Dr Paul Flenley, University of Portsmouth * Herman M. Schwartz’s States Versus Markets is one of the most theoretically and historically comprehensive accounts of the rise of the world economy and its cycles of globalization. The book rejects linear and single-factor accounts to instead develop a dynamic interactive model that explains how the economic forces of markets and the political interests of rulers combined with Schumpeterian technological cycles to produce the modern states and markets of our times. It does so by locating the latter’s origins in the agricultural microeconomies of the early modern era, while masterfully tracing the concentrically expanding geographic realms of markets organized alongside empires, transnational corporations, and modern states across Europe, Asia, Africa, and the Americas. The book develops a sophisticated argument without ever compromising readability, making it an exemplary book for advanced students of international political economy. * Dr Besnik Pula, Virginia Tech University * States versus Markets is field defining. It provides a basis to comprehend the current unravelling of world order, and what will be either the Chinese century or a period of fragmentation characterized by heightened, class, race and interstate conflict and a failure to harness the leading sectors of the economy to an ecologically and socially stable compromise. No other book in International Political Economy provides such a compelling invitation to the disciple and clear road map as to how to navigate and engage it. * Duncan Wigan, Copenhagen Business School, Denmark *

Author Information

Herman Mark Schwartz is Professor of Politics, University of Virgnia, USA.

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