I used this book for my Fall 2012 undergraduate course on International Political Economy (IPE), and found it to be both informative and enjoyable for my students. The author narrates the history of the global economic system from the early 19th century rise of free market capitalism to neo-liberal era of the 1990s and early 2000s. The book is highly readable, with an excellent balance of depth and breadth. Frieden provides clear, accessible discussion of many key concepts in IPE: specialization, gains from trade, Heckscher-Ohlin theory, the Stopler-Samuelson theorem, communism, social democracy, import substitution industrialization, export-oriented industrialization, etc. While the book focuses centrally on the two hegemonic powers of the last two centuries, the United Kingdom and the United States, the author also explores in detail the experiences of other countries at key points in time: Russia under the Bolsheviks, Germany from Weimar to the Third Reich, post-war Swedish social democracy, Mexico during the peso crisis, Thailand during the baht crisis, etc. In some cases, Frieden does a great job of bringing to life key characters in the narrative (e.g., the Rothschilds, Keynes, Soros). What is especially useful about the book is they way that it illustrates the economic theories and political coalitions that have arisen to support or oppose such policies as free trade and the gold standard, as well as its detailed analysis of the anatomy of financial bubbles and crises over the last two centuries. The author keenly observes that global integration is prone to crisis, has not been universally positive, and may be difficult to sustain without addressing its excesses and contradictions. In this sense, the book is an excellent prequel to any discussion of the current global economic crisis. For the most part, my undergraduate students seemed to enjoy the book, though it is important to note that the material can be dense and requires ample discussion in class to make sure that they get the concepts.
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Poor Binding. Loose pages.
Every time I turn the page the falls out. Cheap and poor binding. Horrible. I have to use this book for this semester.
Top reviews from other countries
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- William EsselReviewed in the United Kingdom on July 3, 2012
Good but hard to read.
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