Show Summary Details

Politics (1st edn)

Peter Ferdinand, Robert Garner, and Stephanie Lawson
Page of

Printed from Oxford Politics Trove. Under the terms of the licence agreement, an individual user may print out a single article for personal use (for details see Privacy Policy and Legal Notice).

date: 30 May 2023

p. 2059. Political Economy: National and Global Perspectiveslocked

p. 2059. Political Economy: National and Global Perspectiveslocked

  • Peter Ferdinand, Peter FerdinandEmeritus Reader in Politics and International Studies, University of Warwick
  • Robert GarnerRobert GarnerProfessor of Politics, University of Leicester
  •  and Stephanie LawsonStephanie LawsonProfessor of Politics and International Studies, Macquarie University


This chapter examines the field of political economy from a historical, comparative, and international perspective, focusing on how ideas, practices, and institutions develop and interact over place and time. It first provides an overview of political economy as a field of study before discussing some important theories such as Marxism, liberalism, and economic nationalism. It then considers key issues such as the interaction of states and markets and the North–South divide, along with Karl Marx's critique of international political economy (IPE). It also explores the post-war international economic order and the twin phenomena of globalization and regionalization in the post-Cold War era before concluding with an analysis of the ‘boom and bust’ episodes in the global capitalist economy such as the global financial crisis of 2008.

You do not currently have access to this chapter

Sign in

Please sign in to access the full content.


Access to the full content requires a subscription