An Interest in international political economy
By Prof. Mark Philp (University of Warwick) I’m not sure how I got involved in this – Peter [Hill] is almost certainly to blame. I was reasonably familiar with much of the literature on international political economy up until about 2005, when I was still teaching a lot of political and historical sociology. If I had been asked about my views on that literature then, I would have been critical. On the one hand, it was not clear to me that mainstream economists actually understood how things worked in reality, despite their impeccable models. On the other, I felt that their critics on the left tended to be hide-bound by a Marxist view that we know what the essential characteristics and end-game of capitalism are and we just need to understand what has enabled it to postpone that destiny. My sense was that neither group did much to advance our understanding of power, which was too often understood reductively in terms of control of capital. More importantly, both groups had difficulties in grasping the complexities of exchange, tending to reduce it either to an idealized, frictionless transaction of equivalence, or to outright exploitation. When I moved to a History department […]