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Global Political Economy: Understanding the International Economic Order
This book is the eagerly awaited successor to Robert Gilpin's 1987 The Political Economy of International Relations , the classic statement of the field of international political economy that continues to command the attention of students, researchers, and policymakers. The world economy and political system have changed dramatically since the 1987 book was published. The end of the Cold War has unleashed new economic and political forces, and new regionalisms have emerged. Computing power is increasingly an impetus to the world economy, and technological developments have changed and are changing almost every aspect of contemporary economic affairs. Gilpin's Global Political Economy considers each of these developments. Reflecting a lifetime of scholarship, it offers a masterful survey of the approaches that have been used to understand international economic relations and the problems faced in the new economy.
Gilpin focuses on the powerful economic, political, and technological forces that have transformed the world. He gives particular attention to economic globalization, its real and alleged implications for economic affairs, and the degree to which its nature, extent, and significance have been exaggerated and misunderstood. Moreover, he demonstrates that national policies and domestic economies remain the most critical determinants of economic affairs. The book also stresses the importance of economic regionalism, multinational corporations, and financial upheavals.
Gilpin integrates economic and political analysis in his discussion of "global political economy." He employs the conventional theory of international trade, insights from the theory of industrial organization, and endogenous growth theory. In addition, ideas from political science, history, and other disciplines are employed to enrich understanding of the new international economic order. This wide-ranging book is destined to become a landmark in the field.
Gilpin focuses on the powerful economic, political, and technological forces that have transformed the world. He gives particular attention to economic globalization, its real and alleged implications for economic affairs, and the degree to which its nature, extent, and significance have been exaggerated and misunderstood. Moreover, he demonstrates that national policies and domestic economies remain the most critical determinants of economic affairs. The book also stresses the importance of economic regionalism, multinational corporations, and financial upheavals.
Gilpin integrates economic and political analysis in his discussion of "global political economy." He employs the conventional theory of international trade, insights from the theory of industrial organization, and endogenous growth theory. In addition, ideas from political science, history, and other disciplines are employed to enrich understanding of the new international economic order. This wide-ranging book is destined to become a landmark in the field.
440 pages, Paperback
First published February 20, 2001
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543 people want to read
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Displaying 1 - 23 of 23 reviews
June 3, 2020
One of the hardest reading materials that I had in college...
I didn't know that Giplin was such a hit among IR students back then
I didn't know that Giplin was such a hit among IR students back then
December 18, 2025
Robert Gilpin’s Global Political Economy: Understanding the International Economic Order stands as a synthetic and theoretically ambitious contribution to the field of international political economy (IPE). Written by one of the discipline’s foundational figures, the book seeks to integrate political and economic analysis in order to explain the structure, evolution, and governance of the global economy. Gilpin’s central objective is not merely descriptive but analytical: to demonstrate that economic outcomes at the international level are inescapably shaped by power, interests, and state strategies, and that markets cannot be understood independently of political authority.
The book is structured around a clear theoretical framework that juxtaposes three major traditions in IPE: liberalism, nationalism (or mercantilism), and Marxism. Gilpin presents these traditions with notable clarity and balance, emphasizing their differing assumptions about human nature, the role of the state, and the functioning of markets. While he treats liberalism as the dominant intellectual framework of the contemporary global economy—particularly in its emphasis on efficiency, interdependence, and mutual gains—he is careful to stress that liberal markets are politically constructed and sustained. Nationalist perspectives, by contrast, foreground power, security, and state autonomy, while Marxist approaches emphasize structural inequality, class relations, and the dynamics of capitalist accumulation. Gilpin’s comparative treatment of these traditions provides a valuable conceptual map for students and scholars alike.
A core theme of Global Political Economy is the enduring centrality of the state. Against arguments that globalization has rendered states obsolete, Gilpin contends that states remain the primary architects and regulators of the international economic order. Markets operate within rules that are created, enforced, and revised by political authorities, and the distribution of gains from economic exchange reflects underlying power asymmetries. This state-centric emphasis is particularly evident in Gilpin’s analysis of hegemonic stability theory. He argues that periods of relative openness and stability in the world economy have historically depended on the leadership of a dominant power willing and able to supply public goods such as open markets, stable currencies, and security. The post–World War II liberal economic order, in Gilpin’s account, is inseparable from American hegemony.
Gilpin’s historical approach is one of the book’s major strengths. Rather than treating globalization as a novel or unprecedented phenomenon, he situates contemporary developments within a longer trajectory of international economic change. His discussions of the rise and decline of hegemonic powers, the evolution of international trade and monetary regimes, and the recurring tensions between economic integration and political sovereignty underscore the contingent and reversible nature of globalization. This historical sensibility lends the book a depth often lacking in more economistic treatments of global markets.
At the same time, Gilpin is attentive to the normative and distributive implications of the global economy. He acknowledges that while economic openness can generate aggregate gains, it also produces winners and losers both within and between states. Issues of inequality, development, and uneven growth are thus integral to his analysis, even if they are not examined through the more radical lens characteristic of dependency or world-systems theory. Gilpin’s perspective remains broadly realist and reformist rather than transformative; he is concerned with managing and stabilizing the existing order rather than advocating its wholesale restructuring.
One potential limitation of the book lies in its relative underemphasis on non-state actors and transnational social forces. Although Gilpin recognizes the growing influence of multinational corporations, international institutions, and global financial markets, these actors are ultimately subordinated to state power in his analytical hierarchy. Critics may argue that this approach underestimates the autonomy and structural influence of global capital, particularly in an era of financialization and complex global value chains. Nonetheless, Gilpin’s insistence on political authority serves as a useful corrective to overly deterministic accounts of market globalization.
Global Political Economy is a rigorous, coherent, and highly influential work that synthesizes theory, history, and policy analysis within a realist framework. Its clarity of exposition and breadth of coverage make it especially valuable as a foundational text in IPE, while its emphasis on power and state interests continues to resonate in debates about globalization, economic nationalism, and the future of the liberal international order. Although subsequent developments have introduced new dynamics that extend beyond Gilpin’s primary focus, the book remains a cornerstone for understanding the political foundations of the global economy.
GPT
The book is structured around a clear theoretical framework that juxtaposes three major traditions in IPE: liberalism, nationalism (or mercantilism), and Marxism. Gilpin presents these traditions with notable clarity and balance, emphasizing their differing assumptions about human nature, the role of the state, and the functioning of markets. While he treats liberalism as the dominant intellectual framework of the contemporary global economy—particularly in its emphasis on efficiency, interdependence, and mutual gains—he is careful to stress that liberal markets are politically constructed and sustained. Nationalist perspectives, by contrast, foreground power, security, and state autonomy, while Marxist approaches emphasize structural inequality, class relations, and the dynamics of capitalist accumulation. Gilpin’s comparative treatment of these traditions provides a valuable conceptual map for students and scholars alike.
A core theme of Global Political Economy is the enduring centrality of the state. Against arguments that globalization has rendered states obsolete, Gilpin contends that states remain the primary architects and regulators of the international economic order. Markets operate within rules that are created, enforced, and revised by political authorities, and the distribution of gains from economic exchange reflects underlying power asymmetries. This state-centric emphasis is particularly evident in Gilpin’s analysis of hegemonic stability theory. He argues that periods of relative openness and stability in the world economy have historically depended on the leadership of a dominant power willing and able to supply public goods such as open markets, stable currencies, and security. The post–World War II liberal economic order, in Gilpin’s account, is inseparable from American hegemony.
Gilpin’s historical approach is one of the book’s major strengths. Rather than treating globalization as a novel or unprecedented phenomenon, he situates contemporary developments within a longer trajectory of international economic change. His discussions of the rise and decline of hegemonic powers, the evolution of international trade and monetary regimes, and the recurring tensions between economic integration and political sovereignty underscore the contingent and reversible nature of globalization. This historical sensibility lends the book a depth often lacking in more economistic treatments of global markets.
At the same time, Gilpin is attentive to the normative and distributive implications of the global economy. He acknowledges that while economic openness can generate aggregate gains, it also produces winners and losers both within and between states. Issues of inequality, development, and uneven growth are thus integral to his analysis, even if they are not examined through the more radical lens characteristic of dependency or world-systems theory. Gilpin’s perspective remains broadly realist and reformist rather than transformative; he is concerned with managing and stabilizing the existing order rather than advocating its wholesale restructuring.
One potential limitation of the book lies in its relative underemphasis on non-state actors and transnational social forces. Although Gilpin recognizes the growing influence of multinational corporations, international institutions, and global financial markets, these actors are ultimately subordinated to state power in his analytical hierarchy. Critics may argue that this approach underestimates the autonomy and structural influence of global capital, particularly in an era of financialization and complex global value chains. Nonetheless, Gilpin’s insistence on political authority serves as a useful corrective to overly deterministic accounts of market globalization.
Global Political Economy is a rigorous, coherent, and highly influential work that synthesizes theory, history, and policy analysis within a realist framework. Its clarity of exposition and breadth of coverage make it especially valuable as a foundational text in IPE, while its emphasis on power and state interests continues to resonate in debates about globalization, economic nationalism, and the future of the liberal international order. Although subsequent developments have introduced new dynamics that extend beyond Gilpin’s primary focus, the book remains a cornerstone for understanding the political foundations of the global economy.
GPT
March 30, 2024
I really connected with Gilpin's state-centric realist approach to international political economy (IPE). I agreed with most of his assumptions and find myself more interested in pursuing the topic as an area of study. It was also refreshing to read his take of hegemonic stabity within IPE. The US took upon itself an extremely heavy burden post WWII to re-develop Western Europe and its allies, and although the US benefited from the establishment of the current economic world order, the lions share of the benefits went to its partners and allies who benefitted from the public goods provided by the US taxpayer. It's currently vogue to be critical of the US, which is a valuable and important stance to take, but it's often at the cost of overlooking the fact the US took an unprecedented generous role as world hegemon.
February 21, 2008
Yup, I'm that much of a dork. This book is so fucking dry sometimes though you might feel like you'd rather be in prison, however it's extremely informative
October 18, 2014
My first introduction to International Political Economy. In my mind, it will always remain a classic.
December 17, 2024
Most of the reviews that I read on this book before picking it up focused on what a hard read the book was, and while I do not completely agree I do have to admit that I’ve had to reread the first five chapters about three times, either because I could not understand a single thing that was going on or because every time I put the book down for more than a day I’d manage to forget all the concepts and explanations he had given. However after that first rough patch it all seems to flow incredibly well.
The book does a good job at explaining concepts and how each economic perspective views it. As someone who is EXTREMELY new to economics the book was very informative, even if at times it was a bit of a boring read (but that’s not all that surprising), things did get confusing but it’s only natural that they would and I believe that anyone who truly wants to understand it is totally capable of doing so.
The author is incredibly knowledgeable and mentions probably more than 100 other books and researches, which not only gives you some reassurance that he is not just talking out of his elbows but it also serves as a great guide for further reading.
Taking all of that into consideration I’d say that the book is worth reading and is beginner-friendly (speaking from personal experience) even so it still is very dense and challenging, definitely the type of book that demands a reread.
The book does a good job at explaining concepts and how each economic perspective views it. As someone who is EXTREMELY new to economics the book was very informative, even if at times it was a bit of a boring read (but that’s not all that surprising), things did get confusing but it’s only natural that they would and I believe that anyone who truly wants to understand it is totally capable of doing so.
The author is incredibly knowledgeable and mentions probably more than 100 other books and researches, which not only gives you some reassurance that he is not just talking out of his elbows but it also serves as a great guide for further reading.
Taking all of that into consideration I’d say that the book is worth reading and is beginner-friendly (speaking from personal experience) even so it still is very dense and challenging, definitely the type of book that demands a reread.
January 15, 2018
Gilpin contributes a phenominal introductory book for the study of political economy. I found it through a recommended reading section from the London School of Economics Political Economy masters program. His explanation of the importance of the political economy field is succinct and well taken. World events need to be examined with both economics and political lens, not just one by itself. Then, his examination of different fields with political economy, such as economic development or the state in monetary/fiscal policy, gives great context for where the study of political economy is important.
January 27, 2024
"The idea that globalisation is responsible for most of the world's economic, political, and other problems is either patently false or greatly exaggerated. In fact, other factors such as technological developments and imprudent national policies are much more important than globalisation as causes of many, if not most, of the problems for which globalisation is held responsible."
I don't buy that argument, much like he doesn't agree with much of Kenneth Waltz's arguments.
Waltz said that globalization was a fad of the 1990s.
I don't buy that argument, much like he doesn't agree with much of Kenneth Waltz's arguments.
Waltz said that globalization was a fad of the 1990s.
September 3, 2019
Die Kernaussage des Buches ist, dass nationale und regionale Gefüge trotz aller Globalisierung immer noch die wichtigsten Einflussfaktoren auf die Wirtschaft (sowohl die nationale als auch die Weltwirtschaft) sind.
Gut zu lesen und in den Theorien nicht veraltet.
Gut zu lesen und in den Theorien nicht veraltet.
March 23, 2020
good intro to diff political economy schools of thought. very clinton-era tho.
November 13, 2020
This book was my first introduction to International Political Economy as an International Relations student. Challenging at times, but definitely informative.
Want to read
December 1, 2022Yeah adding my textbook onto my GR list is a bit pathetic but I'm miserable so please just let me be a dork in this corner of cyberspace.
December 20, 2022
Political economy under the bureaucracy and its effects on the globe described briefly...
April 30, 2012
Very long. Very dry. Very informative.
Reading this book brought me back to one of my first courses in college: Introduction to International Relations. While in school, I found International Political Economy (IPE) to be very tedious. However, not paying attention caused me to miss a big part of international relations. This is why I read the book, and I'm glad I did.
Reading this book brought me back to one of my first courses in college: Introduction to International Relations. While in school, I found International Political Economy (IPE) to be very tedious. However, not paying attention caused me to miss a big part of international relations. This is why I read the book, and I'm glad I did.
May 21, 2013
A good introduction in Global Political Economy. Makes a good fusion between IR and economics. One of few realistic books written about global economic issues with a theoretical perspective combining a realist theory (hegemonic stability) with economic liberalism). 12 years past but still useful and informative.
July 20, 2017
IPE is the realm of political science that I find dreadfully boring, nevertheless I found this book quite informative and helped expand my understanding of the subject. It was used as the primary text in an IPE course I took and I think it was a good choice. Even being 15 years old, it is still very relevant.
December 31, 2007
Hard to say how good this book actually is to just pick up and read, but the class I read this book for was so good and I learned so much that I have to give it a 5.
January 4, 2009
Walaupun ia mewarisi tradisi realis, tetapi siapa lagi pemikir yang analisanya tentang ekonomi politik global begitu dalam dan luas, untuk saat ini, selain Gilpin?
June 26, 2014
A very dense read. Is often repetitive in the material. Gilpin gives a great introduction into Political Economy. This is a great book to read before Trust, by Fukuyama.
October 24, 2015
This book was my introduction to IPE, and while it is very informative, I don't know what I think of the subject yet, which is coloring what I think of the book thus far.
Read
December 27, 2025I'll have to read the whole book for university...
April 17, 2009
I'll understand /your/ international economic order Robert Gil--- that doesn't even make any sense.
Read
May 7, 2017i want to read this book cause i need to reference my task
Displaying 1 - 23 of 23 reviews