![2. INTRODUCING THE ACADEMIC STUDY OF IPE
• First and foremost: IPE is a field of study; not a topic or theme.
JOURNALS / TEXTBOOKS / COLLECTIONS See pp. 6-8.
• International Organization [US Mainstream]
• Review of International Political Economy [ British / Critical ]
• IPE articles quite common in IR, political science, geography and development
journals such as International Studies Quarterly, Review of International Studies,
European Journal of International Relations, Geoforum, Global Governance,
International Studies Review, New Political Economy, Third World Quarterly,
International Affairs, World Politics, Development and Change, World
Development, Global Policy, Review of International Organizations..
• You can access all of these journals on BBK Library website: eJournals
Widely used textbooks / collections:
• Ravenhill – See the OUP link under “Reading List / Module Handbook”
• Stubbs & Underhill; Frieden & Lake; O’Brien & Williams; Gilpin
• Cohen: An Advanced Introduction to IPE. (highly recommended)
9](https://image.slidesharecdn.com/ipe-lecture0107october20211-240527100331-3f63a382/85/IPE-Lecture-01-07-October-2021-1-ppt-9-320.jpg)
IPE-Lecture 01 (07 October 2021) (1).ppt
- 1. POSO007S7 INTERNATIONAL POLITICAL ECONOMY 2021-2022 Dr Ali Burak Güven: a.guven@bbk.ac.uk Dr David Styan: d.styan@bbk.ac.uk 07 October 2021 INTRODUCTION: WHAT IS IPE? This session introduces the main themes and selected literature in IPE. It discusses to what extent IPE can be considered a distinct discipline, and briefly contrasts UK and US approaches.
- 2. How and why did IPE emerge as an academic subject? Do scholars agree over the core concepts to be studied within IPE? Why does Halliday see Strange and Polanyi as being key scholars in the study of international relations? What differences does Cohen highlight between US and European approaches to IPE?
- 3. LECTURE OUTLINE 1. Module Basics • Lectures • Seminars • Assessment • Module Outline 2. Introducing the Academic Study of IPE • Journals / Textbooks / Collections • Origins (Susan Strange: Karl Polanyi): chronology 1960s/70s • Objects of Study (Underhill) • American versus British IPE? (Cohen) • The State of the (Inter)Discipline • A Few Classic Texts 3
- 4. Panic, plan, calm … • Another year of transition → Now from online to hybrid learning. First fortnight mayhem to be expected… • Many resources & arrangements are work in progress. Re-read, check, reconfirm. • Time management: This term, not much in the way of assignments in this module. Read widely, try to absorb, find your rhythm. • 2019-20 & 2020-21 students coped well; so will you. • Communicate and help each other…
- 5. 1. MODULE BASICS Pre-recorded LECTURES Autumn → Dr Ali Burak Güven Spring → Dr David Styan (?) Moodle site: moodle.bbk.ac.uk 1. The majority of the core readings and some further readings are available via Moodle. 2. This - above all in the Module Handbook - is also where you will find lecture outlines/presentations, seminar questions, important announcements, and all other course-relevant material. 5
- 6. SEMINARS AND PRESENTATIONS • Weekly in-person seminars on Thursdays at BMA (Dickens Room). Two groups: Group 1: 18:00-19:30 (to wind down at around 19:15) Group 2: 19:30-21:00 (to wind down at around 20:45) • Depending on room size + weekly class attendance, we may be able to consolidate the two groups. • For students who are unable to attend in-person seminars due to Covid and other reasons, there will be online interactive catch-up sessions 3 times per term (6 sessions throughout the module). Dates/times TBA. Presentations: • Each student is expected to present at least once throughout the year. • Presentations will be no more than 10 minutes in duration. • Students will present on a minimum of two readings from either the required or the supplementary readings listed under the relevant week. Students are particularly encouraged to select from the supplementary readings. • Rather than summarising the readings, students should aim at engaging the material critically in line with the essay questions on p. 30 of the handbook. 6
- 7. ASSESSMENT • All students will write one essay, and sit the year-end exam (take-home test), and submit two seminar logs (one per term). ESSAY (45%) • The essay is due on 28 February 2022 at 12 pm (noon) • 3,500 words including footnotes and bibliography (+/– 10%) • Essay questions are enclosed in the module handbook (p. 30). • All essays are submitted via Moodle (look under the Assignments tab and follow the instructions in the weeks prior to essay deadline). • Marks and feedback to be released on 21 March 2022 EXAM (TAKE-HOME TEST) (45%) • This is an open book take-home test. Questions will be released on 27 April 2022 (at noon); answers will be due on 29 April 2021 (at noon.). • Students will answer 3 questions out of 12 questions; ~ 1,000 words each. • Students can access past exam questions on the Library website: http://www.bbk.ac.uk/lib/elib/exam SEMINAR LOGS (10%) • Two seminar logs, 500 words each. Due dates: 17 December 2021; 25 March 2022 7
- 8. MODULE OUTLINE (page 5 of handbook) TOPIC Introduction: What Is IPE? IPE and Realism Classical Political Economy, Free Trade & Slavery Empire and 19th Century Globalisation Depression and War Keynes and the Post-1945 International Architecture Decolonisation, Structural and Marxist Analyses Polanyi and the Double Movement BREAK Commodities: GVCs and the Coffee Industry World Trade: From GATT to the WTO Multinational Companies and Production Regional Trading Blocs Migration and Remittances Financial Liberalisation The Environmental Politics of the IPE 8
- 9. 2. INTRODUCING THE ACADEMIC STUDY OF IPE • First and foremost: IPE is a field of study; not a topic or theme. JOURNALS / TEXTBOOKS / COLLECTIONS See pp. 6-8. • International Organization [US Mainstream] • Review of International Political Economy [ British / Critical ] • IPE articles quite common in IR, political science, geography and development journals such as International Studies Quarterly, Review of International Studies, European Journal of International Relations, Geoforum, Global Governance, International Studies Review, New Political Economy, Third World Quarterly, International Affairs, World Politics, Development and Change, World Development, Global Policy, Review of International Organizations.. • You can access all of these journals on BBK Library website: eJournals Widely used textbooks / collections: • Ravenhill – See the OUP link under “Reading List / Module Handbook” • Stubbs & Underhill; Frieden & Lake; O’Brien & Williams; Gilpin • Cohen: An Advanced Introduction to IPE. (highly recommended) 9
- 14. Susan Strange (1923 - 1998)
- 15. Karl Polanyi (1886 1964) See Halliday text on Strange and Polanyi
- 16. The origins of IPE as a discipline • Susan Strange as a major figure in formally establishing the field. 1970 International Affairs article: “International Economics and International Relations: A Case of Mutual Neglect” • Trends evident in the 1960s made clear many important phenomena fell through the wide cracks between economics and IR, under-researched, mis-understood, by academics and policy makers. Sense of dissatisfaction with existing scholarship. “Real World” changes: 1960s-70s --- Multinational companies --- End of fixed (dollar) exchange rates - rise of finance need for coordination (G7, 1975) --- Impact of new communications technologies --- Challenge to declining ‘industrial’ powers (OECD) from Asia: Japan, Korea, ‘tigers’ --- Commodity and ‘developing country’ power --- New International Economic Order (mid-1970s) --- Emergence of non-aligned, ‘Third World’ --- A shift in structural power? (vs relational power) structural power = production: security; knowledge; finance
- 17. OBJECTS OF STUDY • The intersection of: a. The political (power/state) and the economic (production/markets) b. National (state), international (inter-state; IOs-IGOs), and global (??) IPE or GPE? Interdependence vs. globalisation? Thus, very close links to another field of study: comparative political economy (CPE) • A few common assumptions across IPE approaches (Underhill): a. Inseparability of the political and the economic; origins rooted more in political economy than international relations (IR) b. Political foundations of market/economic relations c. Inseparability of national and international levels of analysis • Core approaches (Gilpin; cf. Watson next week): a. Realism/statism/(neo)mercantilism, e.g. hegemonic stability b. Liberalism/liberal internationalism/interdependence, e.g. regime theory c. Marxism/critical, e.g. neo-Polanyian/neo-Gramscian perspectives d. Constructivism (role of ideas, identities, culture etc. and not just interests) 17
- 18. OBJECTS OF STUDY (continued) • The politics of international economic relations and/or the economic dimension of international politics • Realist/Mercantilist: Shifts in international economic “power balance” (the rise and fall of regional/international powers) • Liberal/Institutionalist/Interdependence: Patterns of cooperation and coordination; global governance; international organisations (IMF/WB..) • Critical: Global power elites; structural sources of development/ underdevelopment; the global economic processes/consequences of gender/racial inequality. Sectoral and Issue Area-Specific: • Global finance / convergence on standards • Global production (MNCs / TNCs) • Global trade (e.g. agricultural goods) • Intellectual property rights (e.g. pharmaceutical patents) • Environment / gender... • Global governance/global policy coordination linking all of the above • Development / power + wealth disparities and shifts linking all of the above 18
- 19. The scope of IPE (John Ravenhill) • Interrelationship between public and private power in the allocation of scarce resources • Who gets what, when and how? (Could add where… globally…) • Relational (between states) power, and structural (setting agendas) power… who sets the rules? • Which conditions are more favourable for the evolution of cooperation among states in an environment where no central enforcement agency is present? • Diversity of approaches and methodologies – Realism (statism, protectionism); liberalism; structural/Marxist • All major texts offer variations on a theme Core issues: exercise of power / creation and distribution of wealth Core institutions: states / markets Core actors: governments / firms / civil society
- 20. AMERICAN VERSUS BRITISH IPE (Cohen, Waever)
- 21. 21
- 22. STATE OF THE (INTER)DISCIPLINE • Booming academic field, more so over the past few years given the global economic crisis. • All “schools” and “theories” have much to say on the current evolution, e.g. rise and fall of powers, intensified rivalries, the significance of state action, problems of coordination, need for more effective international regimes, structural fragilities in the international economy, continuing issues of inequality and human/ environmental exploitation... • Rising interest from other (sub/inter) disciplines; economic anthropology, economics, history, sociology/social theory, public policy, security studies, development studies, gender studies... • More emphasis on empirically/historically grounded work (qualitative as well as quantitative methodologies) and theoretical synthesizing. 22
- 23. A FEW CLASSIC TEXTS Karl Polanyi / The Great Transformation (1944) Charles Kindleberger / The World in Depression (1973) Stephen Krasner (ed.) / International Regimes (1983) Robert Keohane / After Hegemony (1984) Robert Cox / Production, Power and World Order (1987) Susan Strange / Casino Capitalism (1986) Eric Helleiner / States and the Re-Emergence of Global Finance (1994) Susan Strange / The Retreat of the State (1996) Paul Hirst & Grahame Thompson / Globalisation in Question (1996) Barry Eichengreen / Globalizing Capital (1996) Peter Katzenstein / A World of Regions (2005) Jeffry Frieden / Global Capitalism (2007) 23
- 24. Essential Readings • Cohen, B. 2007, “The transatlantic divide: Why are American and British IPE so different?” Review of International Political Economy 14:2 May 2007: 197–219. Online: https://www.polsci.ucsb.edu/sites/secure.lsit.ucsb.edu.poli.d7- 3/files/sitefiles/people/cohen/recent/RRIP_A_228731_O.pdf • Katzenstein P, Keohane, R., and Krasner, S. 1998, International Organization and the Study of World Politics, International Organization, Vol. 52 no. 4 (1998): 645-85. JSTOR • Underhill, G.D.R. 2000, “State, market and global political economy; genealogy of an (inter?) discipline”, in International Affairs, 76 (4) • Halliday, F. 2001, ‘The revenge of ideas: Karl Polanyi and Susan Strange’ in Political Journeys; the openDemocracy essays, London: Saqi. Also on-line at https://www.opendemocracy.net/en/the-revenge-of-ideas-karl-polanyi- and-susan-strange/ • Frieden, Jeffrey. 2020. Global Capitalism: Its Fall and Rise in the Twentieth Century, and Its Stumbles in the Twenty-First. New York: W. W. Norton.