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Red Globe Press
Bloomsbury announces the acquisition of Red Globe Press from Springer Nature Group. Find out more

States Versus Markets (4th Edition)

Understanding the Global Economy


Red Globe Press

Pages: 408

Sample chapter


Paperback - 9781352004434

28 November 2018


Hardcover - 9781352004472

28 November 2018


Ebook - 9781352004441

28 November 2018


All prices are shown excluding Tax

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Now in its fourth edition, this highly regarded and critically acclaimed textbook offers an authoritative introduction to international political economy. It is unique in offering an accessible, broad introduction to the...

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Now in its fourth edition, this highly regarded and critically acclaimed textbook offers an authoritative introduction to international political economy. It is unique in offering an accessible, broad introduction to the development of the global economy from its inception to today’s complex relationship between states and markets in the midst of economic crises.

Herman Mark Schwartz deftly shows that globalization is not a novel phenomenon but a recurrent process whereby markets have, since the 16th century, periodically redistributed economic activity. It links the production of goods and services in one region to the markets for those goods, and shows how this can lead to conflicts among states that try to create, enhance or subdue the markets.

Taking into account the continued rise of China, and the recent shift towards populism in the West, this book has been extensively rewritten and updated throughout. This is a thought-provoking text which will encourage upper level undergraduate and postgraduate students to think analytically about the inevitability of a global market influencing a state’s policies and geo-economic position and to locate their own thinking within the IPE tradition.

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  •         Offers a broad-ranging reassessment of the historical and spatial evolution of the world economy
  •         Written by a renowned expert in the field
  •        Presents globalization as a long-term, multifaceted phenomenon

  •         Thoroughly updated to cover all major developments in global political economy since the financial crisis
  •         Timelines in most chapters show key events in the evolution of the global economy
  •         Offers a particularly clear account, now with chapter summaries, updated examples and a glossary of key terms

Chapter 1. The Rise of the Modern State
Chapter 2. European Mafias Abroad
Chapter 3. States, Markets, and the Origins of International Inequality
Chapter 4. Economic and Hegemonic Cycles
Chapter 5. The Industrial Revolution and Late Development
Chapter 6. Agricultural Exporters and the Search for Labour
Chapter 7. Agriculture-Led Growth and Crisis in the Periphery
Chapter 8.  The Collapse of the Nineteenth-Century Economy
Chapter 9. Depression 2.0, US Domestic Politics, and the Foundation of the Post-World War II System
Chapter 10. International Money, Capital Flows, and Domestic Politics
Chapter 11. Transnational Firms
Chapter 12. Industrialization in the Old Agricultural Periphery
Chapter 13. Trade and the rise and fall of Globalization 2.0
Chapter 14. US Hegemony From Below
Chapter 15. US Hegemony and Global Stability

This edition improves on an already outstanding text. What Schwartz does here is highly unusual and highly rewarding: he draws students into an adventure in learning that conveys knowledge about both the origins and evolution of a global political economy and the development of IPE as a branch of learning. And he brings it up to-date in a manner that places students at the center of important contemporary debates. If students have a choice of textbooks, this is the one.' Randall D. Germain, Carleton University, Canada
'States Versus Markets has long been essential reading for those who seek to understand globalization and its periodic struggles with global imbalances and financial volatility. Professor Schwartz has now done it for the third time, and in keeping with his record this new third edition is yet better and richer than earlier excellence. Unlike more simplistic accounts, this highly approachable work offers a clear understanding of how and where 'globalization' came from and what it actually means for contemporary societies, gently debunking well-worn myths along the way. It is not only an impressive work of scholarship but also a pleasure to read, culminating in a dramatic account of financial crisis and the future of the global political economy.' - Geoffrey R.D. Underhill, University of Amsterdam
This is the outstanding textbook in the field. It brilliantly combines conceptual rigour, historical depth, and empirical breadth within a powerful framing of how overlapping forms of state and market power have shaped the politics of globalization. I can think of no better introduction to political economy. – Jeremy Green, University of Cambridge, UK
Like a fine wine, this book is getting ever better with age. Every previous edition of States Versus Markets has excelled in communicating what the world looked like at that particular time. The new edition works exceptionally well in doing exactly the same for a world undergoing incredibly large political change. – Matthew Watson, University of Warwick, UK
There is no better advanced introduction to the politics of the global economy than States Versus Markets. Conceptually sophisticated but accessible, the book achieves a rare balance between depth and breadth. – Liam Stanley, University of Sheffield, UK
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HERMAN MARK SCHWARTZ is Professor of Politics, University of Virgnia, USA.

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HERMAN MARK SCHWARTZ is Professor of Politics, University of Virgnia, USA.

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