UNSPECIFIED (1999) The Westfailure system. REVIEW OF INTERNATIONAL STUDIES, 25 (3). pp. 345-354. ISSN 0260-2105

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Abstract

From an international political economy perspective, the international political system of states claiming exclusive authority and the monopoly of legitimate violence within their territorial limits-the so-caled Westphalia system-is inseparable from the prevailing capitalist market economy which also first evolved in Europe. Each was a necessary condition for the evolution of the other. To prosper, production and trade required the security provided by the state. To survive, the state required the economic growth, and the credit-creating system of finance, provided by the economic system. But the latter has now created three major problems that the political system, by its very nature, is incapable of solving. First, there is the major failure to manage and control the financial system-witness the Asian turmoil of 1997. Second, there is the failure to act for the protection of the environment. Third, there is a failure to preserve a socio-economic balance between the rich and powerful and the poor and weak. The Westfailure system is thus failing Capitalism, the Planet and global land national) civil society.

Item Type:	Journal Article
Subjects:	J Political Science > JZ International relations
Journal or Publication Title:	REVIEW OF INTERNATIONAL STUDIES
Publisher:	CAMBRIDGE UNIV PRESS
ISSN:	0260-2105
Date:	July 1999
Volume:	25
Number:	3
Number of Pages:	10
Page Range:	pp. 345-354
Publication Status:	Published
URI:	http://wrap.warwick.ac.uk/id/eprint/14247

Data sourced from Thomson Reuters' Web of Knowledge

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