Theories of International Economics

International economic theories emerged within particular social, economic and political frameworks and were developed as solutions to the problems of contemporary economics. In order to understand the increasingly complex and interdependent state of today?s international economy, we need to realise the importance of those theories that came before. However, many international economics textbooks do not place the theories they discuss within this historical context.

Theories of International Economics aims to redress the balance by taking a pluralistic approach, presenting with authority both orthodox and heterodox international economic theories. Each chapter shows the necessarily interdependent nature of schools of international economic theories by including an historical component that shows how each school of thought developed, why it developed and what it has to say about the contemporary world. This text examines a wide range of theories with an emphasis on the benefits of a pluralistic approach, addressing schools of thought including Classical, Neoclassical, Keynesian, Post Keynesian, Marxian, Austrian, Institutional and Feminist Economics, Mercantilism and Neo-Mercantilism, alongside ? and in relation to ? each other. This approach allows the scholarly value of each approach to be understood and appreciated, and in doing so enables a greater understanding of the world economy.

This book is suitable for use as either a core or supplementary text on international economics and international political economy courses.

1 Introduction 2 Mercantilism and Neo-Mercantilism 3 Classical Trade Theory –Smith and Ricardo 4 Neoclassical Trade Theory 5 The New Orthodoxy – Trade Theory Recast 6 Classical and Keynesian International Economics 7 Austrian International Economics 8 Institutionalist International Economics 9 Post Keynesian International Economics 10 Marxian Theories of Imperialism and Capitalist Development 11 Marxian and Sraffian Theories of Unequal Exchange 12 Gender and Feminist Trade Theory

Peter M. Lichtenstein is Professor Emeritus of Economics at Boise State University, USA. He was a Fulbright Scholar in China and also taught in Vietnam, specializing in international economics and heterodox economic theory.