What is Economic Power, and Who Has it?
Strange, Susan. “What is Economic Power, and Who Has it?.” International Journal 30, no. 2 (1975): 207-224.
Here Strange commits to print an early version of the structure of power theory which she would develop over the next thirteen years. In this manifestation, there are three dimensions of power in the international political economy - security, ‘ideology’ and economic. There is more concern, though, with a location of four level or stages at which economic power is apparent - the world market structure; international co-operative relations; national/governmental control of markets; and the operational level of the economic transactions themselves. The importance of the history of bargains for the international structure is identified, but not developed fully. This is based on a paper given to the ISA Conference in March 1973 entitled ‘The Market as an International Actor - The Case of the Eurocurrency Markets.’
Reprinted in: Authority and Markets: Susan Strange’s Writings on International Political Economy, edited by Roger Tooze and Christopher May. Basingstoke: Palgrave Macmillan, 2002.
Keywords: Political Economy; Structural Power, Power; Theory; International Economics