The Three Fields of Global Political Economy

The Three Fields of Global Political Economy provides a systematic and future-oriented account of global political economy dynamics since the Industrial Revolution, arguing that major changes and conflicting processes can be understood through the concept of these three fields: the circuit of capital, the field of reason of state, and the field of reactions to, and learning from, cycles and crises. It analyses the generic dynamics of these fields and explores their causal effects, such as growth, employment, distribution of income and wealth, wars, and ecological effects.

Format: Paperback / softback
Length: 148 pages
Publication date: 31 May 2023
Publisher: Taylor & Francis Ltd

The Three Fields of Global Political Economy offers a comprehensive and forward-looking exploration of the dynamics of the global political economy since the Industrial Revolution. It argues that significant changes and conflicting processes can be understood through the concept of these three fields.

The first field, constituting the circuit of capital, is characterized by a tendency towards economic liberalism. This field encompasses the flow of capital across borders, the investment of capital in various economic activities, and the regulation of capital markets. It highlights the role of international institutions, such as the World Bank and the International Monetary Fund, in shaping economic policies and promoting economic growth.

The second field emerges as a response to and learning from cycles. It is driven by cycles and crises, as well as various negative experiences, such as economic downturns, wars, and environmental disasters. This field emphasizes the importance of resilience, adaptability, and crisis management in navigating the challenges posed by global economic volatility. It explores the role of governments, international organizations, and individuals in responding to crises and implementing policies to promote economic stability and recovery.

The third field, known as the field of reason of state, is evoked by struggles within and among states. It encompasses the political, economic, and social dimensions of state-level interactions. This field emphasizes the role of power, ideology, and institutions in shaping global political economy outcomes. It explores the dynamics of interstate conflicts, trade agreements, and international institutions, such as the United Nations and the World Trade Organization.

This book aims to analyze the generic dynamics of these three fields of global political economy and explore their most significant causal effects. These effects include growth, employment, distribution of income and wealth, wars, and ecological consequences. By examining the interplay between these fields and the ideas and causal forces that generate them, the book seeks to provide a holistic understanding of the complex and interconnected nature of the global political economy.

The Three Fields of Global Political Economy will appeal to advanced students and scholars of global studies, international relations, international political economy, economic theory, and governance. It will also be valuable to those working in social theory and sociology, as well as to a broader audience interested in socioeconomics. The book offers a comprehensive and accessible introduction to the key concepts and debates in global political economy, making it an essential resource for anyone seeking to understand the world's economic and political landscape.

Weight: 290g
Dimension: 234 x 156 (mm)
ISBN-13: 9780367764012