International political economy: problems and issues—Part I

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Abstract
Recent years have seen governmental concern with international economic issues attain an intensity previously reserved for the great questions of war and peace. Students of international affairs have followed suit with a revival of academic interest in the complex relationship between the economic and the political in the international arena: hence the resurgence of international political economy. International economic issues are now ‘high politics’. Alarm at the domestic implications of ‘stagflation’ within the advanced industrial countries (AICs) has prompted calls for reflationary stimulants to trade and economic activity. Domestic economic dislocation has, however, also revived protectionist arguments within certain Western economies.

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