Description
Book SynopsisThe Political Economy of Global Restructuring argues that the study of political economy, and the classical perspective it offers, will become increasingly relevant as we approach the 21st century.
The dramatic events in Eastern Europe, the resurgence of an invigorated market capitalism and the prospect of integrated trading and financial communities are challenging the orientation towards positivism and model-building which dominates mainstream economics.
Trade and Finance, the second volume of The Political Economy of Global Restructuring, focuses on the responses of the market economies of the West to structural changes in the world economy. By in depth study of such issues as disparate gains from EEC accession among member countries who give up mercantilist practices, and the prospect of new strains between financial centres and their peripheries in consequence of a European Central Bank, this volume is a decisive step in the direction of re-establishing Political Economy as a purposeful discipline.
Trade Review'Most of these papers can be recommended to enlighten and enliven students and the discussion of professional economists.' -- Jan Toporowski, The Economic Journal
Table of ContentsFull circle on business cycles - lessons from the 1920s and 1930s, Warren Young; neomercantilism - what does it tell us about the political economy of international trade?, Ingrid Rima; a theory of mercantilism, John S. Chipman; the international trade system, trade blocks and US trade policies, Dominick Salvatore; the macroeconomic effects of exchange rate instability, Steven Pressman; real exchange rates and patterns of international specialization, Fabrizio Onida; Italian joint ventures abroad - country, industry and firm specific requirements, Francesca Sanna-Randaccio; the impact on Spanish industry of accession with the European Economic Community, Susan Walcott; globalization and the diffusion of technology, Klaus Weiermair; globalization and the international debt trap, Omar F. Hamouda; structural changes in financial markets and financial flows to developing countries, Jan Kregel; some scenarios for money and banking in the EC and their regional implications, Victoria Chick; a post Keynesian perspective of European integration, Philip Arestis; monetary economics after financial restructuring, John Smithin.
