Deus ex machina The Process of International Economic Cooperation

  • Peter Ellehøj


Plato noted in his book Cratylos that when playwrights encountered difficulties in linking — and explaining — events in their plays, they could fall back on unexpected Divine intervention in these events. The term ‘Deus ex machina’ has been used since then to denote external conflict-solution by some staged actor. Unfortunately, mainstream writings on international economic cooperation seem to have made heavy-handed use of this device. Indeed, in most of the literature, the solving of the conflicts underlying cooperation have been made by means of a ‘black-box’ description of the process itself which emerges out of the blue. The focus has mainly been on the outcome of these negotiations, rather than on the process itself.


Monetary Policy Central Bank International Cooperation Policy Coordination Bargaining Process 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


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© Palgrave Macmillan, a division of Macmillan Publishers Limited 1993

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  • Peter Ellehøj

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