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Disciplining the International Political Economy through Finance

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The Diffusion of Power in Global Governance

Part of the book series: Palgrave Studies in International Relations ((PSIR))

Abstract

Few would dispute that the past two or three decades have been, in many ways, the heyday of neo-liberalism and market capitalism. Looking back, it is pertinent to ask whether the rise of neo-liberalism over the past three decades made the global economy progressively more free of coercive power and governmental ‘interventions’. Has the economic order of the global economy become increasingly ‘spontaneous’?1 Has power, in terms of global economic governance, become more and more diffused and dispersed in this period? I shall strive to demonstrate in this chapter that the opposite is the case. Never have market economies seen intervention in so manifold ways — and in so standardizing and totalizing ways. Never before have predominant modes of global economic governance taken our notion of what a market economy is so far away from a neo-liberal ideal of ‘spontaneous order’.

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Authors
  1. Jakob Vestergaard
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Editor information

Editors and Affiliations

  1. Danish Institute for International Studies, Copenhagen, Denmark

    Stefano Guzzini (Senior Researcher, and Professor of Government) (Senior Researcher, and Professor of Government)

  2. Uppsala University, Sweden

    Stefano Guzzini (Senior Researcher, and Professor of Government) (Senior Researcher, and Professor of Government)

  3. Norwegian Institute of International Affairs, Oslo, Norway

    Iver B. Neumann (Research Director) (Research Director)

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© 2012 Jakob Vestergaard

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Vestergaard, J. (2012). Disciplining the International Political Economy through Finance. In: Guzzini, S., Neumann, I.B. (eds) The Diffusion of Power in Global Governance. Palgrave Studies in International Relations. Palgrave Macmillan, London. https://doi.org/10.1057/9781137283559_7

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