How can one understand the problems of collaboration and coordination in the global political economy (GPE)? In situations of global interdependence, individual action by states often does not yield the desired result. Many argue that the solution to the problem of interdependence is to create international institutions. Yet this approach itself raises the issue of how states might go about creating such institutions in the first place. This work examines the conditions under which states might wish to cooperate and provides an introduction to game theory as an approach to understanding interdependent decision-making. It then discusses the conditions under which international institutions are likely to be developed and how they may facilitate international cooperation. Finally, the work examines dimensions of institutional variation, with a discussion of factors that shape the design of international institutions.
Chapter
3. Cooperation and Conflict in the Global Political Economy
Vinod K. Aggarwal and Cédric Dupont
Chapter
15. International Relations Theory and Globalization
Colin Hay
This chapter examines the existing debate on the extent and nature of globalization and its implications for contemporary International Relations theory. It first considers the stakes involved in the globalization debate for a range of core theoretical perspectives in IR. It shows how the literature on globalization has developed over time, revealing how the nature of the debate has changed, and illustrates this both theoretically and empirically with a case study of the impact of globalization on the development of the welfare state before and since the global financial crisis. The chapter also considers the empirical case against the globalization thesis, what a competition state is, and how it might confer a competitive advantage upon a national economy in an era of globalization. The chapter suggests that the current level of interdependence within the international system, although considerable, is not easily reconciled with the stronger variants of the globalization thesis.
Chapter
17. International Relations Theory and Globalization
Colin Hay
This chapter examines the existing debate on the extent and nature of globalization and its implications for contemporary International Relations theory. It first considers the stakes involved in the globalization debate for a range of core theoretical perspectives in IR. It shows how the literature on globalization has developed over time, revealing how the nature of the debate has changed, and illustrates this both theoretically and empirically with a case study of the impact of globalization on the development of the welfare state before and since the global financial crisis. The chapter also considers the empirical case against the globalization thesis, what a competition state is, and how it might confer a competitive advantage upon a national economy in an era of globalization. The chapter suggests that the current level of interdependence within the international system, although considerable, is not easily reconciled with the stronger variants of the globalization thesis.
Chapter
Human Rights and Religion
Roja Fazaeli and Joel Hanisek
This chapter
focuses on the correlation between human rights and religion. It explains how
the oversimplification of both systems' complexity resulted in the reductive
classification of religion and human rights as oppositional systems. Significant
ideas of human rights theories overlap with doctrinal claims in religious
traditions, while human rights language occasionally features liturgical, public
worship, devotional, and public structures of religious traditions. Trends such
as treatment of women, toleration, and authoritative interpretation tend to
raise arguments on the compatibility between some expressions of religion and
international human rights norms. The chapter then covers the interdependence of
human rights by referencing the Masterpiece Cakeshop case and the
Sahin case.
Chapter
10. European Political Economy and Interdependence
Elliot Posner
This chapter focuses on the correlation between the key concepts of European political economy and interdependence. It elaborates on the interplay between multi-level governance, Europeanization, globalization, and EU market integration. Essentially, the EPE cannot be understood without careful analysis of the interlinkages between the EU market-building project and the region's interdependent relationships with the rest of the world. The chapter then provides an overview of the main concepts surrounding globalization, regionalization, and general trade patterns of national markets. It notes the high likelihood that EU-level agents, processes, and structures are prime shapers in any given aspect of the EPE.
Chapter
1. The Study of Global Political Economy
John Ravenhill and Erin Hannah
The multilateral economic order is facing several major challenges, including the persistent impact of COVID-19 on global output and growth, the shift towards decoupling and fragmentation in economic relations with China, the Russian invasion of Ukraine, the disruption of global value chains, and the rise of conservative populism. Together these challenge the principles of liberal internationalism and provide a clear illustration of the relationship between trade, finance, international institutions, and the difficulties governments face in coping with the problems generated by complex interdependence. This chapter explores past and emerging challenges in the Global Political Economy (GPE) through a range of theoretical lenses. It also pays attention to the significance of race, colonialism, gender, and the intersections of GPE with everyday life.
Chapter
23. Foreign Policy and Countering Terrorism
Rashmi Singh
This chapter explains how foreign policies intersect and interact with terrorism and counterterrorism. It considers core instruments of foreign policy and methods for countering terrorism. Examples include diplomacy and culture, economic statecraft, and the military. There is some evidence suggesting the use of military pressure can be quite effective in achieving specific policy objectives. However, the chapter also emphasizes how an interrelationship and interdependence between foreign policies and counterterrorism could hinder the fight against terrorism. The sub-divisions of countering terrorism are anti-terrorism, counter-terrorism, and consequence management. States must include compromise elements in their foreign policy in their direct dealings with other governments when it comes to countering terrorism.
