Abstract
Some of the more enthusiastic proponents of globalization rushed to proclaim in the 1990s that the era of the nation-state was over, and predicted that nation-states would wither away, to be replaced by new non-political forms of economic interdependence.1 Many who do not take this view still concede that something fundamental has changed in the way the global economy is organized in the last 30 years, which has increased the external constraints on national economies and national governments.2 Globalization may not be leading to an instant race to the bottom, but many believe it has increased the pressure for convergence to certain international norms, because the penalties for not conforming have become more severe. In response various forms of new regionalism have begun to emerge, intended both to support globalization and to provide new political capacities to moderate its excesses.3 Others again dispute the notion that globalization is new, arguing instead that it consists of the kind of changes which regularly occur in an international economy. This economy remains fundamentally intergovernmental in the way in which it is organized.4
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Notes
1 Kenichi Ohmae, The End of the Nation-State (London: Harper Collins, 1996).
2 Jonathan Perraton, David Goldblatt, David Held and Anthony McGrew, ‘The Globalization of Economic Activity’, New Political Economy 2, (no. 2) (1997) 257–78; David Held et al., Global Transformations: Politics, Economics and Culture (Cambridge: Polity, 1999).
3 Mario Telo (ed.), European Union and New Regionalism: Regional Actors and Global Governance in a Post-hegemonic Era (Aldershot: Ashgate, 2001); Bjorn Hettne & Fredrik Soderbaum ‘Theorising the Rise of Regionness’, New Political Economy 5, (no. 3) (2000) 457–63.
4 Paul Hirst and Grahame Thompson, Globalization in Question (Cambridge: Polity, 1996).
5 Philip Cerny, The Changing Architecture of Politics: Structure, Agency and the Future of the State (London: Sage, 1990).
6 Peter Katzenstein, Small States in World Markets (Cornell: Cornell University Press, 1985).
7 David Coates, Models of Capitalism (Cambridge: Polity, 2000).
8 Tom Nairn, After Britain (London: Verso, 2000).
9 Robert Cox, ‘Mulitlateralism and World Order’, in Approaches to World Order (Cambridge: CUP, 1996).
10 Andrew Gamble and Anthony Payne (eds), Regionalism and World Order (London: Macmillan, 1996).
11 Katzenstein, Small States in World Markets.
12 Patrick Minford, ‘Why Countries Need to Learn Better Monetary Behaviour’, New Political Economy 4, (no. 3) (1999) 424–7.
13 David Howell, The Edge of Now (London: Macmillan, 2000).
14 Andrew Gamble, Hayek: the Iron Cage of Liberty (Cambridge: Polity, 1996).
15 Ernest Mandel, The Second Slump (London: NLB, 1978). The most important contemporary analysis is Robert Brenner, ‘The Economics of Global Turbulence’, New Left Review 229 (1998) 1–265.
66 Contextualizing Turbulence
16 C.P. Kindleberger, The World in Depression 1929–1939 (Berkeley: University of California Press, 1973); Robert Keohane, After Hegemony: Cooperation and Discord in the World Political Economy (Princeton: Princeton University Press, 1984); Immanuel Wallerstein, The Modern World System (New York: Academic Press, 1974); Robert Cox, Production, Power, and World Order (New York: Columbia University Press, 1987). See also Robert Gilpin, The Political Economy of International Relations (Princeton: Princeton University Press, 1987).
17 John Grieve Smith, Closing the Casino (London: Fabian Society, 2000).
18 Jan Aart Scholte, Globalization (London: Macmillan, 2000).
19 Hedley Bull, The Anarchical Society (London: Macmillan, 1977).
20 Francis Fukuyama, The End of History and the Last Man (London: Hamish Hamilton, 1992); Andrew Gamble, Politics and Fate (Cambridge: Polity, 2000).
21 Indeed this has come to represent the dominant strand of thinking within the British Conservative party over recent decades. See Andrew Gamble and Gavin Kelly, ‘Britain and the Euro’ in Kenneth Dyson (ed.), European States and the Euro (Oxford: OUP, 2002).
22 A global economy is defined as driven by supranational forces and co-ordinated by transnational institutions such as transnational corporations, while an international economy is one which is managed through bilateral and multilateral negotiations between nation-states and in which therefore the sovereign nation-state remains the key administrative and political institution. Hirst and Thompson, Globalization in Question.
23 Linda Weiss, The Myth of the Powerless State (Cambridge: Polity, 1998).
24 Frank Vandenbroucke, Globalisation, Social Democracy, and Inequality (London: IPPR, 1997).
25 Hedley Bull, The Anarchical Society; Mario Telo (ed.), European Union and New Regionalism: Regional Actors and Global Governance in a Post-hegemonic Era (Aldershot: Ashgate, 2001).
26 David Held et al., Global Transformations.
27 Larry Siedentop, Democracy in Europe (London: Allen Lane, 2000)
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Gamble, A. (2003). States and World Order. In: Busumtwi-Sam, J., Dobuzinskis, L. (eds) Turbulence and New Directions in Global Political Economy. International Political Economy Series. Palgrave Macmillan, London. https://doi.org/10.1057/9781403918451_4
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