ECO 357L • Political Economy of International Crisis
This course is designed to introduce students to the analysis of the ongoing international crisis in the world economic order. There has been for some time considerable agreement among many individuals and institutions concerned with international issues of monetary relations, trade, development, and political stability that since the beginning of the 1970s the old Western international order of Bretton Woods, the Development Decade and Keynesian policy has collapsed. For over three decades the stability of nations and of international relations have been rocked repeatedly by monetary collapse, debt crises, food crises, repeated recessions, energy crises, ecological decay and massive uncontrolled movements of money and population across borders. Added to these crises of the Western world, has been the crises of the Eastern Bloc: the popular upheavals in China that led to the Tienamen massacres and widespread changes in economic policy, economic and nationalist unrest which has broken up the Soviet Union and the wave of popular struggles which swept Eastern Europe abolishing the old communist governments of Poland, East Germany, Czechoslovakia, Hungary, Bulgaria and Romania, followed by a break up of Yugoslavia wracked by ethnic antagonism and genocidal violence.