Power and Rules in the Changing Economic Order

The aim of this seminar is to address the changing dynamics inthe international economic system from an interdisciplinary standpoint, in order to unpack some of the emerging processes ofglobalization and to investigate the relationship between power and rule-setting. The idea is to bridge the gap between the traditional realist accounts of the international system that place the nation-state at the centre of the analysis, and the liberal,market driven approach that focuses on the problems of an increasingly integrated global economy and fragmented political authority. The framing question is how the global order (governance) has to change in order to accommodate the enlargement of the playing field and in particular the emergence of fast-growing developing economies. How is this shift going toaffect the distribution of power, both among nations and between state and non-state actors? Is this shift going to drive a fundamental rethinking of the rules governing relations between countries—and regions—and institutions? The thread that links these discussions is a rather benign view of globalization, leaning towards ‘liberal ingenuity’ that sees governance as a way to accommodate conflicting interests through institutions in such a way as to minimize the potential for conflict.