World Political Economy
How has the current economic crisis led to a rethinking of the role of the state and regulation in contemporary capitalism? What political forms are likely to emerge following the failure of neoliberalism? This course will take up these questions in terms of both theory and current practice. We begin looking at some classic statement on the role of the state in the economy and then we turn specifically to issues of globalization relating to production (trade and foreign direct investment) and finance (international portfolio capital movements). We then look at specific policy issues related to the welfare states of the industrialized world, the regulation of capital flows into and out of developing countries, industrial policy and finally, the role of international institutions, including the IMF, WTO, World Bank and the BIS.