POLI 222 Chapter Notes -Grou, Real Wages, Corporatism
17 Dec 2014
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The world political economy and the crisis of embedded liberalism - robert o. keohane. Political economies of modern western europe do not exist in isolation. > within a context established by international system. > constraints and incentives provided by the world political economy. Each economy occupies a particular location in the international division of labour. > changes in the environment will affect each one in a distinctive way. Goal: to explain the substantial differences among european countries in economic policy and performance during the 1970s. This chapter: identify the international forces impinging on western europe, establish the context for the comparison and evaluation of national policies. Argument: these common forces are significant, must be taken into account in any analysis of the european political economies and evolution of the welfare state during the 1970s and 1980s. Not an alternative to studying domestic politics or a supplement. Conception of external problems, pressures and challenges facing european political economies.
