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This fifth edition of a comprehensive and popular text on global political economy has been systematically updated and revised to take account of all recent developments, including the changing role of the BRICS and the impact of financial crisis on the global political system.

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This fully revised fifth edition continues to offer the authoritative introduction to today´s global political economy and its historical context. O´Brien and Williams move beyond the traditional three-paradigm perspective to show how these theories can be applied and their efficacy in tackling key developments and issues. In doing so, the authors offer an all-encompassing analysis of the multiple theories, themes, and issues to create a comprehensive guide to the topic.
The authors first trace the evolution of the global economy from its roots in fifteenth century through the Industrial Revolution, to the post-1945 world order. They then proceed to explore in more detail the dynamics of today´s global political economy, providing systematic coverage of the key spheres of activity, from trade, production and finance to social divisions, development, the environment, ideas, security and governance. This edition includes new material on the Greek financial crisis and the changing role of the BRICS countries in global governance, as these developments upset the dominance of the US and Europe in the world economy today.

Supported by multiple boxed exhibits, further reading links, and a fully-featured companion website, this text is designed to be as accessible as possible. Online, students will find essay and multiple choice questions, podcasts and videos, timelines, and other materials to help consolidate learning.

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Introduction.- PART I: THEORETICAL PERSPECTIVES.- 1. Theories of Global Political Economy.- 2. International Political Economy and Its Methods.- PART II: EVOLUTION.- 3. Forging a World Economy 1400-1800.- 4. Industry, Empire and War 1800-1945.- 5. Growing a Global Economy 1945-2015.- PART III: DYNAMICS.- 6. International Trade.- 7. Transnational Production.- 8. The Global Financial System.- 9. Global Division of Labour.- 10. Gender.- 11. Economic Development.- 12. Global Environmental Change.- 13. Ideas.- 14. Security.- 15. Governing the Global Political Economy.- Conclusion.

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´Once again, O´Brien and Williams have succeeded in making an excellent text even better. Wide-ranging and historically informed, the fifth edition provides up-to-date coverage of contemporary developments and the latest theoretical trends in the field.´ - Benjamin Jerry Cohen, University of California, Santa Barbara, USA

´This is outstanding in its combination of high-quality scholarship, breadth of coverage and even-handed treatment of all theoretical vantages. An invaluable book for students - and teachers - of IPE.´ - Randall Germain, Carleton University, Canada

´This is a hugely important textbook, which I have found to be extremely helpful for the teaching of International Political Economy. It provides an excellent overview of the key themes in IPE and a platform for students to identify and develop their key interests in a more in-depth way.´- Andreas Bieler, University of Nottingham, UK

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