The evolution of international political economy

The 'invisible college' of international political economy (IPE) is a house divided. The field is split between the rationalist species that dominates in the US and a diverse genus of critical scholars. Recent developments in IPE suggest, however, that there is scope to rebuild the invisible college. An increasing awareness of normative questions should make rationalist scholars more receptive to critical work, while critical scholars are discovering an independent identity as they reinvent themselves in the tradition of classical political economy. There is much to gain from a renewed exchange between rationalist and critical scholars, particularly in the context of empirical work, as demonstrated by the vivid politics of the global bioeconomy.     

The political economy of economic reform in North Korea

For over 10 years, North Korea has undergone a severe economic crisis, including food shortages, which has inflicted great suffering upon the North Korean people. Given such dire realities, it is beyond all doubt that the North Korean government should actively carry out comprehensive economic reforms as quickly as possible which aim to transform North Korea's present inefficient socialist planned economic system into a market economic system. Many argue that such reforms would give rise to successful economic growth in North Korea, which could enhance the legitimacy of the North Korean regime. Yet, the North Korean regime has consistently avoided implementing economic reforms, even though it has had a number of opportunities to do so. The July 1st reforms, which were introduced in 2002, have been half-hearted and inconsistently applied. This then raises an important question: Why has the North Korean government avoided adopting comprehensive economic reforms? In other words, what is the crucial barrier that has hindered North Korea's implementation of economic reforms? This article pinpoints North Korea's unique political system—i.e. its monolithic system of political control and policy making which exhibits the highest level of power concentration in one individual among all political systems—as the biggest barrier to economic reforms. No doubt North Korea desperately needs comprehensive economic reforms, in light of its economic crisis and food shortages. Nonetheless, the current North Korean regime has avoided adopting such reforms since they will undermine North Korea's monolithic system. In conclusion, North Korea's monolithic system has been the biggest obstacle to North Korea's economic reforms.     

Correcting Europe's political economy: The virtuous eclecticism of Georg Ludwig Schmid

The article provides an analysis of Georg Ludwig Schmid's ‘Reflexions sur l’Agriculture’, which was published as the first essay in the first issue of the publications of the Oeconomical Society of Berne, founded in 1759. Schmid connected the agricultural improvement movement of the time to the logic of international power competition that caused the 7 Years’ War and wished to preserve political economy as agronomy for the cause of peace and virtuous economic progress. In his essay on commerce and luxury, he devised a patriotic political economy based on the notion of a marche naturelle, or a natural progress of opulence, which enabled statesmen and political economists to separate the productive from the pathological features of economic development, healthy and necessary growth from luxury. Adam Smith deployed a similar model in the Wealth of Nations but argued that Europe's retrograde development was so fundamental and comprehensive that it made it impossible to use this kind of natural progress model on its own as a meaningful guide for comprehensive economic and political reform.     

Islamology,political science and history

ARABIC THOUGHT IN THE LIBERAL AGE 1798–1939. Albert Hourani. O.U.P., 1962.

THE INTELLECTUAL ORIGINS OF EGYPTIAN NATIONALISM, J. M. Ahmed. O.U.P., 1960.

AHMADIYYAH (A Study in Contemporary Islam on the West African Coast). Humphrey J. Fisher. O.U.P., 1963.     

The use and abuse of paradigms in the history of political thought

A paradigm is a methodological device which historians of political thought borrow from the history of science. The initial part of this article examines the views of three distinguished historians of political thought—Sheldon Wolin, Alan Ryan and John Pocock—who have borrowed paradigms. Wolin and Ryan are shown to have confused paradigms with weltanschauungen in such a way as to make the former less useful as methodological devices. Pocock, on the other hand, has been successful in his use of paradigms, though he does not sufficiently recognise their methodological limits. He also raises a conceptual problem. The latter part of this article examines the recent history of science in an attempt to clarify the use of paradigms and their limits.     

Trade,tribute, and neutron activation: The colonial political economy of Xaltocan,Mexico

In Trade, Tribute, and Transportation, Ross Hassig argues that indigenous towns in the northern Basin of Mexico during the colonial period were largely self-sufficient. They traded with Mexico City mostly in elite goods, but for the most part they produced for their own subsistence or traded with nearby towns. Chemical characterization by instrumental neutron activation analysis (INAA) and portable X-ray fluorescence (pXRF) of ceramics and obsidian from post-conquest contexts in Xaltocan, a site in the northern Basin of Mexico, reveals that Hassig’s model is partly correct for describing Xaltocan. The town focused on trade with nearby towns and it produced some ceramics for local consumption. However, Xaltocan was hardly isolated and self-sufficient in the post-conquest period. Instead, the data suggest that the people of Xaltocan also obtained ceramics and obsidian from a greater variety of sources than under Aztec domination. Rather than being an isolated rural site, Xaltocan either increased its external connections and number of trading partners after the Spanish conquest, or it managed to obtain a greater variety of products than before through a bustling market system.     

The political economy of maize production and poverty reduction in Zambia: analysis of the last 50 years

Poverty and food security are endemic issues in much of sub-Saharan Africa. To eradicate extreme poverty and hunger in the region remains a key Millennium Development Goal. Many African governments have pursued economic reforms and agricultural policy interventions in order to accelerate economic growth that reduces poverty faster. Agricultural policy regimes in Zambia in the last 50 years (1964–2008) are examined here to better understand their likely impact on food security and poverty, with an emphasis on the political economy of maize subsidy policies. The empirical work draws on secondary sources and an evaluation of farm household data from three villages in the Kasama District of Zambia from 1986/87 and 1992/93 to estimate a two-period econometric model to examine the impact on household welfare in a pre- and post-reform period. The analysis shows that past interventions had mixed effects on enhancing the production of food crops such as maize. While such reforms were politically popular, it did not necessarily translate into household-level productivity or welfare gains in the short term. The political economy of reforms needs to respond to the inherent diversity among the poor rural and urban households. The potential of agriculture to generate a more pro-poor growth process depends on the creation of new market opportunities that most benefit the rural poor. The state should encourage private sector investments for addressing infrastructure constraints to improve market access and accelerate more pro-poor growth through renewed investments in agriculture, rural infrastructure, gender inclusion, smarter subsidies and regional food trade. However, the financing of such investments poses significant challenges. There is a need to address impediments to the effective participation of public private investors to generate more effective poverty reduction and hunger eradication programmes. This article also explores the opportunities for new public–private investments through South–South cooperation and Asia-driven growth for reducing poverty in Zambia.     

A break from the past: The labor party and the political economy of Keynesian social democracy

Arguments about the nature of the Australian Labor Party have been somewhat revived over the past few years. Those who argue that there has been a fundamental break with Labor tradition are criticised from both the right of the labour movement and the Marxist left. Both, interestingly, argue that to see the Hawke‐Keating years as too distinct is to misread history. Both schools of thought argue that those who defend a Labor tradition ‐which is fundamentally different from contemporary Labor are glorifying the past. This paper gives an account of Keynesian social democracy, and employs a comparative case study of economic debate in the 1940s and 1980s, in order to argue that there has indeed been a fundamental change in Labor's approach to political economy.