erc/metu
INTERNATIONAL CONFERENCE IN ECONOMICS  IV
September 13-16, 2000, Ankara

Globalisation ın the Light of the Political Economy of Finance and the Political Economy of the Welfare State

Ben Fine (SOAS, University of London, UK)

Abstract  

Globalisation is the latest in a sequence of concepts to have shot to prominence across the social sciences (with the habitual exception of economics). Following postmodernism and flexibility, and coinciding with social capital, it also straddles both academic and popular discourse, offering a ready means by which to interpret contemporary developments. Further, it sets an agenda for debate of globalisation versus the state, with the balance of opinion of relative importance shifting between the two. Finance is generally considered to be at the forefront of, and the chief moving force in, the processes of globalisation and is, therefore, most readily associated with its triumph over the nation-state. On the other hand, although considered as consequence to be considerably constrained by globalisation, the welfare state is perceived to be a continuing obstacle to its imperatives not least because it is not directly and completely subordinate to the economy. By assessing recent literature in the areas of finance and the welfare state, critical light is also shed on the globalisation debate itself.

Economic Research Center
Middle East Technical University
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