Susan Strange

An International Political Economy Perspective

Strange, Susan. In Governments, Globalization, and International Business, edited by John H. Dunning, 132-145. Oxford: Oxford University Press, 1997.

In this chapter Strange lays out her idea of what International Political Economy is, including a wide-ranging view of politics (not just the activities of politicians and governments) and a focus on structural power. This then leads her to discuss the problems that globalisation presents for governments, business and people. She concludes that these problems require a re-examination of authority and justice both by states and by international business and adopting an IPE perspective facilitates such analysis. By trying to make a bridge between business research and international relations Strange returns again to the theme of breaking down disciplinary boundaries, see for instance 'International Political Economy: Reuniting three fields of intellectual endeavour' (1989).

Keywords: Globalization; Political Economy; Theory

Contributor(s): Susan Strange and Editor: John H. Dunning
Keywords: Globalization, Political Economy, Theory, 1990's, Susan Strange
Source and Medium: Book Chapter

Year of Publication: 1997

An Eclectic Approach

Strange, Susan. In The New International Political Economy (International Political Economy Year Book No. 6), edited by Craig N. Murphy, Roger Tooze, 33-49. Boulder: Lynne Rienner Publishers, 1991.

Strange reiterates the structural dimensions of power from States and Markets (1988) and then goes on to develop this further by adding three conditioning factors that influence the structural elements of power - these are states, markets and technology. Essentially the new element here is the dynamic of technology. Strange makes the contribution of the technological dynamic to the four structures more explicit in this article than previously. She then concludes by again stressing the need for interdisciplinary understanding of IPE and how this should influence the teaching of the subject.

Keywords: Theory; Markets; States; Structural Power, Power; Technology

Contributor(s): Susan Strange, Editor: Craig N. Murphy and Editor: Roger Tooze
Keywords: Theory, Markets, States, Structural Power, Power, 1990's, Susan Strange
Source and Medium: Book Chapter

Year of Publication: 1991

Big Business and the State

Strange, Susan. Millennium: Journal of International Studies 20, no. 2 (1991): 245-250.

Strange argues in this short piece that TNCs should be placed at the centre of IPE analysis along with the state and should not be left on the periphery. She also argues for an outside-in understanding of TNCs, putting them into the context in which they operate to understand them. This context is being transformed by changes in the production and financial structures, while she implicitly also argues for the centrality of changes in the 'knowledge' structure.

Keywords: Corporations; Knowledge; Structural Power, Power; Theory

Contributor(s): Susan Strange
Keywords: Corporations, Knowledge, Structural Power, Power, Theory, 1990's, Susan Strange
Source and Medium: Journal Article

Year of Publication: 1991

Casino Capitalism

Strange, Susan. Oxford: Blackwell Publishers, 1986.

Strange argues that uncertainty and risk in the financial sector/structure have provoked major economic disturbances in the last twenty or so years. This work represents a detailed sectoral history and analysis which argues against many of the proposed solutions to the international economic crisis she identifies. Strange argues that the United States must once again take up the leadership role (which it enjoys by virtue of economic preponderance) and more radically suggests that in the future financial regulation of credit creating agencies should not be a territorially based jurisdiction, but based on the currencies themselves wherever the credit transactions take place. Using her analysis, locating and understanding 'key decisions' in one sector/structure of power in the international political economy, Strange shows how disruption has spread to affect the other structures, and concludes with suggestions for how constitutional and governmental changes in the United States would benefit the international system. Alongside States and Markets (1988) and Rival States, Rival Firms: Competition for world market shares (with John M. Stopford and John S. Henley, 1991) this represents a major part of the influential core of Strange's work on international political economy. Reprinted, Manchester: Manchester University Press, 1997.

Keywords: Foundational Work; Money and Finance; Theory; General Framework

Contributor(s): Susan Strange
Keywords: Foundational Work, Money and Finance, Theory, 1980's, Susan Strange
Source and Medium: Book

Year of Publication: 1986

The Global Political Economy, 1959-1984

International Journal 39, no. 2 (1984): 267-283.

After discussing some terms she would like to see the back of (‘actors’, ‘issue-areas’), reviewing years of the Global Political Economy, Strange proposes four structures that condition change. These are Security, Production, Knowledge and Finance, and though at this point this is only used as a taxonomy for looking at changes in the GPE, it represents the first time the structures of her theory appear in their final configuration. Strange also stresses that while the four structures are not hierarchical, she believes it is disruptions in the financial structure that has caused most upheavals over the period examined.

Keywords: Money and Finance, Structural Power, Power

Contributor(s): Susan Strange
Keywords: Money and Finance, Structural Power, Power, 1980's, Susan Strange
Source and Medium: Journal Article

Year of Publication: 1984

Cave! Hic Dragones: A Critique of Regime Analysis

Strange, Susan. International Organisation 36, no. 2 (1982): 479-496.

Strange's classic critique of regime theory, often used as a touchstone for those regime-theorists wanting to make the point they recognise that there have been criticisms of their approach. As such it has at least a totemic importance. Strange argues for five shortcoming of regime theory: that it is a passing fad, is imprecise, has a value bias, is too static and is too state-centred. As in 'What is Economic Power, and Who has it?' (1975) the underlying history of bargains, which condition regimes are emphasised as being crucial to any understanding of the IPE. The rather brief structural power analysis conflates what Strange would come to term primary and secondary structures. 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: Foundational Work; Political Economy; Structural Power, Power; Theory; Regime Theory

Contributor(s): Susan Strange
Keywords: Foundational Work, Political Economy, Strcutural Power, Power, Theory, 1980's, Susan Strange
Source and Medium: Journal Article

Year of Publication: 1982

The Financial Factor and the Balance of Power

Strange, Susan. In Foreign Policy: Policy Making and Implementation, edited by James Barber, Josephine Negro, Micheal Smith, 35-46. Milton Keynes: Open University, 1975.

Strange presents the Soviet-American balance of power alongside the balance of power in the international monetary system to make links between supposedly different sectors of the international system. While these balances function in different ways, Strange prefaces her remarks with a short argument for an International Political Economy approach to problems rather than a predominantly political or predominantly economic account. This short piece illustrates her argument about the applicability of her IPE approach, but does not include her more usual extended criticism of previous analyses from International Relations or International Economics.

Keywords: Money and Finance; Political Economy; Structural Power, Power

Contributor(s): Susan Strange, Editor: James Barber, Editor: Josephine Negro and Editor: Michael Smith
Keywords: Money and Finance, Political Economy, Structural Power, Power, 1970's, Susan Strange
Source and Medium: Book Chapter

Year of Publication: 1975

Arab Oil and International Finance

Strange, Susan. The Ditchley Journal 1 (1974): 10-23.

Essentially a conference report, Strange discusses the meeting held at Ditchley in December 1973 to discuss the financial prospects and problems for industry and government in the world economy, and the inescapable problem of the oil crisis. Discussing the various aspects of monetary order, from balance of payments problems and trade barriers, to financial flows, she argues that at this point too little work had been done to understand the effects and causes of shifts in monetary flows. In a repeated theme of much of Strange’s work on finance she argues strongly for a move away from an exclusively economic/financial analysis of the problem, and a (re)introduction of political analysis. Again Strange, although less explicitly than elsewhere, argues for a ‘new’ International Political Economy.

Keywords: Hegemony; International Institutions; Money and Finance; Structural Power, Power

Contributor(s): Susan Strange
Keywords: Hegemony, International Institutions, Money and Finance, Structural Power, Power, 1970's, Susan Strange
Source and Medium: Journal Article

Year of Publication: 1974

International Business and the EEC

Strange, Susan. In The Eruopean Economic Community, edited by James Barber, 82-95. Milton Keynes: Open University, 1974.

Strange discusses the relationship between international business and the EEC by briefly examining three partly overlapping assertions: that the main achievements of the EEC have resulted not from the community’s own work but from the impact of international business; that international business is a ‘Trojan horse’ for American influence and interest in Europe; and that the EEC is a necessary response to the problems brought by international business. She then concludes it is impossible to separate politics and economics, and that the indicators used to measure the level of European integration are unable to capture what is actually happening. Furthermore, the impact of international business is becoming a transnational process across states rather than an international process between them. Thus she advocates further moves to political unity in Europe to counter-balance the power of international business.

Keywords: Corporations; Europe; Transnational Corporations; European Integration

Contributor(s): Susan Strange and Editor: James Barber
Keywords: Corporations, Europe, 1970's, Susan Strange
Source and Medium: Book Chapter

Year of Publication: 1974

A New Look at Trade and Aid

Strange, Susan. International Affairs 42, no. 1 (1966): 61-73.

In the light of UNCTAD’s problems, declining optimism over foreign aid and the unfavourable terms of trade for developing states, Strange suggests that ‘Prebisch’s thesis’, allowing subsidised exporting by developing states, and the dropping of tariff barriers, while unpopular would be a useful way forward. She suggests an ‘import bounty’ system, to diffuse opposition, paid for through a tax on developed states domestic and exporting manufacturers. While encouraging industry in developing states, instead of commodity exports, this would reduce the ‘loading of the dice’ identified by G77. Even if not achievable multilaterally, bilateral implementation would help revive help to the developing world and help developed state’s industry to revive through competition. Strange posits the structural problems of international trade, while suggesting the way forward through a combination of economics and politics. 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: Production; Trade; Economic Development

Contributor(s): Susan Strange
Keywords: Production, Trade, 1960's, Susan Strange
Source and Medium: Journal Article

Year of Publication: 1966

British Foreign Policy

Strange, Susan. In Year Book of World Affairs 1955, edited by George W. Keeton, Georg Schwarzenberger, 35-53. London: Stevens, 1955.

Strange argues that a state whose power is waning is more liable to make fatal mistakes. British economic survival could only be made possible by conditions of expanding world trade, rising standards of living in export markets and a minimum of economic nationalism. Britain's future thus largely depends on the US, as she is no longer as essential as a market and supplier of capital as she once was to the members of the Commonwealth. As she notes, a small fall in American consumption led to a large cut in American imports from the Sterling Area, revealing this dependence. Strange suggests that as a result a major role of British foreign policy is to sustain the US's role in the international economy to ensure continued expansion and growth.

Keywords: Hegemony; Money and Finance; Trade; United Kingdom; United States; Economic Development

Contributor(s): Susan Strange, Editor: George W. Keeton and Editor: Georg Schwarzenberger
Keywords: Hegemony, Money and Finance, Trade, United Kingdom, United States, 1950's and earlier, Susan Strange
Source and Medium: Book Chapter

Year of Publication: 1955