International Monetary Relations
Strange, Susan. “International Monetary Relations.” In International Economic Relations in the Western World 1959-71, edited by Andrew Shonfield, 18-25. London: Oxford University Press, 1976.
While much more than an expanded and internationalised version of Sterling and British Policy (1971), this work covers much of the same period and material. Strange spends little time here developing further her theories and refers the reader to ‘International Economic Relations I: The Need for an Interdisciplinary Approach’ (1972) for her thoughts regarding the discipline of international studies. After an extended narrative of international monetary relations for the period, she concludes that the increasing politicisation of the international monetary system, indicates that there is an emerging international political economy, interdependent though dominated by the United States, where bargains between actors are struck through the operation of both political and economic power. However what later would be ‘structural power’ is not theorised at this stage, although the central role of ‘bargains’ emerges as a subject of concern.
Keywords: Hegemony; Money and Finance; Interdependence