The World Economy

  • Peter Marshall


In the previous lecture we looked at the United Nations as the principal institutional expression of modern interdependence and the leading vehicle of the ‘New Diplomacy’. The range of its activities is wide, the range of its deliberations and concerns wider still. It is apparent that the United Nations, however much reformed or restructured, is unable on its own to manage interdependence. There is an enormous amount of business which must be transacted internationally yet which, for one reason or another, cannot be handled by or through the UN. As was explained at the end of Lecture 1, a practical means of assessing this requirement is to look at the reality of the world economy and the arrangements which governments need in tackling it.


Direct Foreign Investment World Economy World Trade Organisation Security Dimension Global Governance 
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  1. 1.
    See Vincent Cable, ‘What Future for the State?’, Daedelus, Spring 1995. Vol. 124, No. 2 of the Proceedings of the American Academy of Arts and Science. This article contains much valuable analysis of factors affecting globalisation and the responsibilities of governments. See also Lecture 7, note 9.Google Scholar
  2. 10.
    Lord Beveridge followed up his Report on Social Insurance and Allied Services with his Report on Full Employment in a Free Society, Allen and Unwin, 1944.Google Scholar
  3. 14.
    The Earth Summit and the UN ramifications are helpfully explored by Professor Patricia Birnie, ‘The UN and the Environment’, in United Nations — Divided World (ed. A. Roberts and B. Kingsbury), 2nd edition, Oxford University Press, 1993.Google Scholar
  4. See also A. Brenton, The Greening of Machiavelli, Earthscan, 1994 (Lecture 1, note 17).Google Scholar
  5. 22.
    Communique issued by ‘the heads of State and Government of seven major industrialised nations and the President of the European Commission’, Halifax, Nova Scotia, 17 June 1995, para. 12. The Halifax Summit was the twenty-first in the series. The role of these Summits is most helpfully analysed in N. Bayne and R. Putnam, Hanging Together, 2nd edition, Sage, 1987. Sir Nicholas Bayne was British High Commissioner in Ottawa, 1992–6.Google Scholar
  6. 24.
    Our Global Neighbourhood, Report of the Commission on Global Governance, Oxford University Press, 1995. See Bibliography for details of the major Commission reports.Google Scholar

Copyright information

© Sir Peter Marshall 1997

Authors and Affiliations

  • Peter Marshall
    • 1
  1. 1.LondonUK

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