Page 7 - Global Political Economy_Understanding The International Economic Order

CON TENTS
The New Theories 108
Conclusion 127
SIX. The Political Significance of the New Economic Theories 129
National Governments and Domestic Economies 129
Oligopoly and Power in Economic Outcomes 132
Technological Innovation 135
Convergent and Divergent Economic Growth 141
Conclusion 147
SEVEN. National Systems of Political Economy 148
Differences among National Economies 149
The American System of Market-Oriented Capitalism 150
The Japanese System of Developmental Capitalism 156
The German System of “Social Market” Capitalism 168
Significance of National Differences 174
Is One System Superior to the Others? 175
Do Nations Compete with One Another? 180
Convergence, Harmonization, or Mutual Recognition? 183
Conclusion 195
EIGHT. The Trading System 196
The Debate over Free Trade 198
Trade and the Economy 202
Revisions of Conventional Trade Theory 206
Postwar Trade Regime 217
The Uruguay Round and World Trade Organization 221
New Threats to an Open Trading System 224
Conclusion 232
NINE. The International Monetary System 234
The Postwar International Monetary System 235
The End of Fixed Exchange Rates 238
The Financial Revolution and Monetary Affairs 239
Embedded Technical and Political Issues 242
Devising an International Monetary System 248
Reform of International Monetary Affairs 250
Unity or Fragmentation of the Monetary System? 255
Few or Many National Currencies? 258
Conclusion 259
TEN. The International Financial System 261
Partial Globalization of International Finance 261
Nature of Financial Crises 264
The East Asian Financial Crisis 267
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