This work advances geopolitical economy as a new approach to
understanding the evolution of the capitalist world order and its
21st century form of multipolarity. Neither can be explained by
recently dominant approaches such as U.S. hegemony or
globalization: they treat the world economy as a seamless whole in
which either no state matters or only one does. Today's BRICs and
emerging economies are only the latest instances of state-led or
combined development. Such development has a long history of
repeatedly challenging the unevenness of capitalism and the
international division of labour it created. It is this dialectic
of uneven and combined development, not markets or imperialism,
which has spread productive capacity around the world. It also
ensured that the hegemony of the UK would end and attempts to
create that of the US would peter out into multipolarity. Part two
of this book paves the way, advancing Geopolitical Economy as a new
approach to the study of international relations and international
political economy. Following on from the theoretical limitations
exposed in Part I, in this volume the analytical limitations are
explored.
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