Political Economy of Global Finance (YorkU, AS4295/GS5295 3.0, Undergraduate/Graduate)

Political Economy of Global Finance (YorkU, AS4295/GS5295 3.0, Undergraduate/Graduate)
Nitzan, Jonathan. (2003). Political Science. York University. (Course; English).

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Abstract or Brief Description

Why should political science students be concerned with money, financial instruments and international capital movements? The standard interdisciplinary answer is that finance and politics “affect” one another. For instance, governments have to pay close attention to the stocks and bond markets, whereas investors depend on political and legal conditions; economic performance and class positions are influenced by, and in turn bear on interest rates and asset values; and international interdependence is further complicated by cross-boarder capital movements. The seminar deals with such connections but also goes beyond them, seeking to understand finance itself as a dominant form of politics.

Discussion is organized around several key themes, including: (1) Concepts and Building Blocks: What are financial markets, who are the key players and why are they there? (2) The Alchemy of Finance: How do financial markets work? What different theories and ideologies are used to explain, justify and criticize the functioning of modern finance? How is finance a form of “governance”? Who is being governed, by whom and to what end? (3) The Globalization of Finance: What is capital flow and how is it related to ownership and power? What is the connection between the power of capital, state sovereignty and international monetary stability? How have their relationships changed over time? (4) Political Economy of Global Finance: Is international finance a precondition for prosperity, or is it a “fictitious” bubble, de-linked from the underlying “real” political economy and hence a source of global instability? What types of international financial architectures are possible, and what do they imply for the political economy of power and well being, locally as well as globally?



Publication Type



assets bonds capitalization capital corporation flow fiscal finance earnings global governance hype IPE international interest liabilities mania market monetary money policy power profit state stocks rates risk violence


BN Agency
BN Business Enterprise
BN Capital & Accumulation
BN International & Global
BN State & Government
BN Theory
BN Methodology
BN Conflict & Violence
BN Money & Finance
BN Cooperation & Collective Action
BN Value & Price
BN Crisis
BN Power
BN Data & Statistics
BN Distribution
BN Production
BN Growth
BN Industrial Organization
BN Institutions

Depositing User

Jonathan Nitzan

Date Deposited

24 Sep 2004

Last Modified

31 Mar 2016 22:12



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