The political economy of Europe has changed significantly in the last four decades because of globalization, the collapse of communism, and financial crises. This chapter first discusses the different varieties of capitalism that emerged in Europe after World War II. It looks at how they have been put under pressure by economic internationalization and the dominance of neoliberal ideas, which together have weakened economic management at nation-state level. The chapter also looks at the development of capitalism in Eastern Europe and explanations for variance in post-communist capitalist development. Finally, the chapter considers the challenges to the management of Europe’s political economy posed by the international financial crisis that dominated much of Europe’s politics after 2007, along with the initial response to the economic crisis caused by the coronavirus pandemic in 2020.
Chapter
12. Politics and Markets
Neil Robinson and Owen Worth
Chapter
13. Politics and Markets
Neil Robinson and Owen Worth
The political economy of Europe has changed significantly in the last four decades because of globalization, the collapse of communism, and financial crises. This chapter first discusses the different varieties of capitalism that emerged in Europe after World War II. It looks at how they have been put under pressure by economic internationalization and the dominance of neoliberal ideas, which together have weakened economic management at nation-state level. Finally, the chapter considers the challenges to the management of Europe’s political economy posed by the international financial crisis that dominated much of Europe’s politics after 2007, and the Covid-19 pandemic.
Chapter
Introduction to comparative politics
Daniele Caramani
This text provides a comprehensive introduction to comparative politics. Comparative politics is an empirical science that deals primarily with domestic politics. It is one of the three main subfields of political science, alongside international relations, and political theory. Comparative politics has three goals: to describe differences and similarities between political systems and their features; to explain these differences; and to predict which factors may cause specific outcomes. This edition compares the most important features of national political systems and contains chapters on integration, globalization, and promotion of democracy in non-Western parts of the world. This introductory chapter explains what comparative politics is, and discusses its substance as well as method.
Chapter
24. Globalization and the nation state
Sørensen Georg
This chapter examines the implications of globalization for sovereign statehood. It begins with a discussion of the debate over the consequence of globalization for nation states, followed by an analysis of the modalities of statehood as they have developed over the past several decades. In particular, it explores how advanced capitalist states are transforming from modern into post-modern states. It also considers the emergence of weak post-colonial states out of special circumstances—the globalization of the institution of sovereignty in the context of decolonization. Furthermore, it looks at modernizing states such as China, India, Russia, and Brazil, which combine features of the modern, post-modern, and weak post-colonial states. The chapter concludes with an overview of changes in statehood that place the discipline of comparative politics in a new setting.
Chapter
16. Introducing Global Politics
Stephanie Lawson
This chapter discusses global politics in relation to the phenomenon of globalization. ‘Global politics’ as a field of study encompasses the traditional concerns of International Relations with how states interact under conditions of anarchy, but lays greater emphasis on the role of non-state actors and processes in a globalizing world. The chapter first provides an overview of politics in a globalizing world before explaining the basic distinctions between ‘state’ and ‘nation’ in the context of contemporary global politics. It then considers the variation in state forms and the phenomenon of empire throughout history as well as the historical emergence of the modern state and state system in Europe along with ideas about sovereignty and nationalism against the background of ‘modernity’. It also examines the effective globalization of the European state system through modern imperialism and colonialism and the extent to which these have been productive of contemporary global order.
Chapter
23. Conclusion: Towards a Globalizing, Post- Western-Dominated World
Stephanie Lawson
This chapter summarizes the text’s various arguments. It first considers the relationships between the study of political philosophy, political institutions, and international relations and suggests that the study of politics cannot be divorced from the study of other social sciences such as economics, sociology, psychology, philosophy, law, and history. It also contends that the study of politics should be seen as a genuinely international and comparative enterprise and explains how trends in globalization have further eroded the distinctions between domestic and international politics and between the domestic politics of individual nation-states. Finally, it discusses the rise of the so-called ‘new medievalism’, a scenario in which the world is moving towards greater anarchy; signs that global power is shifting from the West to the East; and developments showing that domestic politics and international relations are mutating.
Chapter
22. Global Political Economy
Stephanie Lawson
This chapter provides an overview of the field of Global Political Economy (GPE), also known as International Political Economy (IPE). It begins with a discussion of how GPE/IPE has developed as a major focus of study within the broader field of global politics over the last four decades. It then considers the rise of mercantilism as a theory of GPE, along with its relationship to nationalism and colonialism. It also examines the emergence of liberal political economy, Marxism and critical IPE, and the international economic order after World War II. In particular, it looks at the Bretton Woods system, which emerged after the war as a compromise between liberalism and nationalism. The chapter concludes with an analysis of international political, economic, and social problems associated with the North–South gap, globalization and regionalization in the post-Cold War period, and financial crises that rocked the global economic system.
Chapter
24. Globalization and the Nation-State
Georg Sørensen
This chapter examines the implications of globalization for sovereign statehood. It begins with a discussion of the debate over the consequence of globalization for nation-states, followed by an analysis of the modalities of statehood as they have developed over the past several decades. In particular, it explores how advanced capitalist states are transforming from modern into post-modern states. It also considers the emergence of weak post-colonial states out of special circumstances—the globalization of the institution of sovereignty in the context of decolonization. Furthermore, it looks at modernizing states such as China, India, Russia, and Brazil, which combine features of the modern, post-modern, and weak post-colonial states. The chapter concludes with an overview of changes in statehood that place the discipline of comparative politics in a new setting.
Chapter
Introduction to Comparative Politics
Daniele Caramani
This text provides a comprehensive introduction to comparative politics. Comparative politics is an empirical science that deals primarily with domestic politics. It is one of the three main subfields of political science, alongside international relations and political theory. Comparative politics has three goals: to describe differences and similarities between political systems and their features; to explain these differences; and to predict which factors may cause specific outcomes. This edition compares the most important features of national political systems and contains chapters on integration, globalization, and promotion of democracy in non-Western parts of the world. This introductory chapter explains what comparative politics is, and discusses its substance as well as method.
