Advanced search
Publication Cover
Review of International Political Economy Volume 26, 2019 - Issue 3
Submit an article Journal homepage
7,947
Views
36
CrossRef citations to date
0
Altmetric
Original Articles

American hegemony: intellectual property rights, dollar centrality, and infrastructural power

Herman Mark SchwartzPolitics Department, University of Virginia, Charlottesville, VA, USACorrespondence[email protected]
ORCID Iconhttp://orcid.org/0000-0002-5571-3644View further author information
ORCID Icon
Pages 490-519 | Published online: 27 May 2019

References

  • Aldasoro, I., Ehlers, T., Eren, E., & McCauley, R. (2017). Highlights of global financial flows. BIS Quarterly Review, 15–23. Retrieved from https://www.bis.org/publ/qtrpdf/r_qt1703.pdf
  • Autor, D., Dorn, D., & Hanson, G. H. (2013). The Geography of trade and technology shocks in the United States. American Economic Review, 103(3), 220–225.
  • Autor, D., Dorn, D., Katz, L., Patterson, C., & Van Reenen, J. (2017). The fall of the labor share and the rise of superstar firms. NBER working paper 23108. Chicago: National Bureau of Economic Research.
  • Avdjiev, S., Everett, M., Lane, P., & Shin, H. (2018). Tracking the international footprints of global firms. BIS Quarterly Review, 47–66. Retrieved from https://www.bis.org/publ/qtrpdf/r_qt1803.pdf
  • Ban, C. (2016). Ruling ideas: How global neoliberalism goes local, New York, NY: Oxford University Press.
  • Bauerle Danzman, S., Winecoff, W. & Oatley, T. (2017). All crises are global: Capital cycles in an imbalanced international political economy. International Studies Quarterly, 61(4), 907–923.
  • Bergsten, C. (1975). The dilemmas of the dollar, New York, NY: Council on Foreign Relations.
  • Bergsten, C. (1987). Economic imbalances and world politics. Foreign Affairs, 65(4), 770–794.
  • Bergsten, C. (1997). The dollar and the euro. Foreign Affairs, 76(4), 83–95.
  • Bergsten, C. (2009). The dollar and the deficits: How Washington can prevent the next crisis. Foreign Affairs, 88(6), 20–38.
  • Bergsten, C. (2015). ‘Time for a plaza II??’. Rice University, unpublished paper.
  • Bergsten, C., & Williamson, J. (2004). Dollar adjustment: How far? Against what? Washington, DC: Peterson Institute.
  • Bessembinder, H. (2017). Do stocks outperform treasury bills? Retrieved from https://ssrn.com/abstract=2900447.
  • Borio, C., & Disyatat, P. (2011). Global imbalances and the financial crisis: Link or no link? Bank for International Settlements Working Paper No. 346. Geneva: Bank for International Settlements.
  • Borio, C., McCauley, R., McGuire, P., & Sushko, V. (2016). Covered interest parity lost: Understanding the cross-currency basis. BIS Quarterly Review, 45–64. Retrieved from https://www.bis.org/publ/qtrpdf/r_qt1609.pdf
  • Bourdieu, P. (1977). Outline of a theory of practice. New York, NY: Cambridge University Press.
  • Bourdieu, P. (2012). On the state: Lectures as the collège de France, 1989-1992. London, UK: Polity.
  • Chinn, M., Eichengreen, B., & Ito, H. (2014). A forensic analysis of global imbalances. Oxford Economic Papers, 66(2), 465–490.
  • Cohen, B. (1998). The geography of money. Ithaca, NY: Cornell University Press.
  • Cohen, B. (2013). Currency and state power. In Martha Finnemore and Judith Goldstein (Eds.), Back to basics: State power in a contemporary world pp. 159–176. Oxford, UK: Oxford University Press.
  • Cooley, A., & Nexon, D. (2013). The empire will compensate you: The structural dynamics of the US overseas basing network. Perspectives on Politics, 11(4), 1034–1050.
  • Costigliola, F. (1984). Awkward dominion. Ithaca, N.Y.: Cornell University Press.
  • Darwin, J. (2009). The empire project: The rise and fall of the British world-system, 1830–1970. Cambridge: Cambridge University Press.
  • De Grazia, V. (2009). Irresistible empire: America's advance through twentieth-century Europe. Cambridge, MA: Harvard University Press.
  • Deeg, R., & Hardie, I. (2016). What is patient capital and who supplies it?. Socio-Economic Review, 14(4), 627–645.
  • Despres, E., Kindleberger, C., & Salant, W. (1966). The dollar and world liquidity: A minority view, Washington, DC: Brookings Institution.
  • Detzer, D., Creel, J., Labondance, F., Levasseur, S., Shabani, M., Toporowski, J., … Rodriguez Gonzalez, C. A. (2014). Financial systems in financial crisis—An analysis of banking systems in the EU. Intereconomics, 49(2), 56–87.
  • Dobbs, R., Koller, T., Ramaswamy, S., Woetzel, J., Manyika, J., Krishnan, R., & Andreula, N. (2015). Playing to win: The new global competition for corporate profits. New York, NY: McKinsey Global Institute.
  • Doremus, P., Pauly, L., Keller, W., & Reich, S. (1998). The myth of the global corporation. Princeton, NJ: Princeton University Press.
  • Doyle, M. (1986). Empires. Ithaca, NY: Cornell University Press.
  • Drahos, P. & Braithwaite, J. (2003). Information Feudalism: Who owns the knowledge economy? New York, NY: New Press.
  • Eichengreen, B. (2010). Global imbalances and the lessons of Bretton Woods. Cambridge, MA: MIT Press.
  • El-Gamal, M., & Jaffe, A. (2010). Oil, dollars, debt, and crises, New York, NY: Cambridge University Press.
  • Fichtner, J. (2017). Perpetual decline or persistent dominance? Uncovering Anglo-America’s true structural power in global finance. Review of International Studies, 43(1), 3–26.
  • Foucault, M. (1977). Discipline and punish: The birth of the prison, New York, NY: Vintage.
  • Gabor, D. (2016). The (impossible) repo trinity: the political economy of repo markets. Review of International Political Economy, 23(6), 967–1000.
  • Germain, R., & Schwartz, H. (2014). The political economy of failure: The euro as an international currency. Review of International Political Economy, 21(5), 1095–1122.
  • Gerschenkron, A. (1962). Economic backwardness in historical perspective: A book of essays. Cambridge, MA: Harvard University Press.
  • Gilpin, R. (1975). US power and the multinational corporation: The political economy of direct foreign investment. New York, NY: Basic Books.
  • Gowan, P. (1999). The global gamble: Washington's Faustian bid for world dominance. London, UK: Verso.
  • Gruber, L. (2000). Ruling the world: Power politics and the rise of supranational institutions. Princeton, NJ: Princeton University Press.
  • Halperin, S., & Palan, R. (Eds.). (2015). Legacies of empire, New York, NY: Cambridge University Press
  • Hardie, I., Howarth, D., Maxfield, S., & Verdun, A. (2013). Banks and the false dichotomy in the comparative political economy of finance. World Politics, 65(4), 691–728.
  • Hardie, I., & Maxfield, S. (2016). Atlas constrained: The US external balance sheet and international monetary power. Review of International Political Economy, 23(4), 583–613.
  • He, D., & McCauley, R. (2012). Eurodollar banking and currency internationalization. Bank for International Settlements Quarterly Review. Retrieved from https://www.bis.org/publ/qtrpdf/r_qt1206.pdf
  • Hirschman, A. (1945). National power and the structure of foreign trade. Berkeley: University of California Press.
  • Höpner, M. (2018). The German undervaluation regime under Bretton Woods, 1950-1973. Cologne, Germany: Max Planck Institute.
  • Hozic, A. (1999). Uncle Sam goes to Siliwood: Of landscapes, Spielberg and hegemony’. Review of International Political Economy, 6(3), 289–312.
  • Hurt, S. (2010). Science, power and the state: U.S. foreign policy, intellectual property law, and the origins of agricultural biotechnology, 1969-1994. New York, NY: New School for Social Research, dissertation.
  • IMF . (2018). Global financial stability report. Washington, DC: IMF.
  • Johnson, C., Tyson, L., & Zysman, J. (1989). Politics and productivity: The real story of why Japan works. Cambridge, MA: Ballinger.
  • Keohane, R. (2005). After hegemony: Cooperation and discord in the world political economy. Princeton: Princeton University Press.
  • Keohane, R. & Nye, J. (1977). Power and interdependence. Boston: Little, Brown.
  • Kindleberger, C. (1981). International money. Boston, MA: George Allen & Unwin.
  • Lake, D. (2009). Hierarchy in international relations. Ithaca, NY: Cornell University Press.
  • Linsi, L., & Mügge, D. (2017). Globalization and the growing defects of international economic statistics. Working Paper 2-2017, Fickle Formulas.org, University of Amsterdam, Amsterdam.
  • Maier, C. (1987). In search of stability: Explorations in historical political economy. New York, NY: Cambridge University Press.
  • Mann, M. (1986). The sources of social power, Vol. 1. A history of power from the beginning to AD 1760. Cambridge: Cambridge University Press.
  • Mann, M. (2008). Infrastructural power revisited. Studies in Comparative International Development, 43(3-4), 355–365.
  • Manyika, J., Ramaswany, S., Bughin, J., Woetsel, J., Birshan, M., & Nagpal, Z. (2018). Superstars: The dynamics of firms, sectors, and cities leading the global economy. New York, NY: McKinsey Global Institute.
  • Mazzucato, M. (2015). The entrepreneurial state: Debunking public vs. private sector myths. London, UK: Anthem Press.
  • McCauley, R., McGuire, P., & Shushko, L. (2015). Global dollar credit: Links to US monetary policy and leverage’. Bank for International Settlements Working Paper 483. Geneva: Bank for International Settlements.
  • McGuire, P., & von Peter, G. (2012). The dollar shortage in global banking and the international policy response. International Finance, 15(2), 155–178.
  • McLeay, M., Radia, A., & Thomas, R. (2014). Money creation in the modern economy’. Bank of England Quarterly Bulletin, 14–27. Retrieved from https://www.bankofengland.co.uk/-/media/boe/files/quarterly-bulletin/2014/money-creation-in-the-modern-economy.pdf?la=en&hash=9A8788FD44A62D8BB927123544205CE476E01654
  • McDowell, D. (2012). The US as sovereign international last-resort lender: The Fed's currency swap programme during the great panic of 2007–09. New Political Economy, 17(2), 157–178.
  • McKinnon, R. (2005). Exchange rates under the east Asian dollar standard: Living with conflicted virtue. Cambridge, MA: MIT Press.
  • Minsky, H. (1977). The financial instability hypothesis: An interpretation of Keynes and an alternative to ‘standard’ theory’. Challenge, 20(1), 20–27.
  • Minsky, H. (1986). Stabilizing an unstable economy. New Haven, CT: Yale University Press.
  • Nexon, D., & Wright, T. (2007). What's at stake in the American empire debate. American Political Science Review, 101(2), 253–271.
  • Nitzan, J. (1998). Differential accumulation: Towards a new political economy of capital. Review of International Political Economy, 5(2), 169–216.
  • Nitzan, J., & Bichler, S. (2009). Capital as power: A study of order and creorder. New York, NY: Routledge.
  • Norrlof, C. (2014). Dollar hegemony: A power analysis. Review of International Political Economy, 21(5), 1042–1070.
  • Oatley, T., Winecoff, W., Pennock, A., & Danzman, S. (2013). The political economy of global finance: a network model. Perspectives on Politics, 11(1), 133–153.
  • OECD. (2015). Business and finance outlook, 2015. Paris: OECD.
  • Otero-Iglesias, M., & Steinberg, F. (2013). Is the dollar becoming a negotiated currency? Evidence from the emerging markets. New Political Economy, 18(3), 309–336.
  • Perry, W. (2015). My journey at the nuclear brink. Palo Alto, CA: Stanford University Press.
  • Pettis, M. (2001). The volatility machine: Emerging economies and the threat of financial collapse. New York, NY: Oxford University Press.
  • Pettis, M. (2011, September 7). An exorbitant burden, Foreign Policy. Retrieved from http://foreignpolicy.com/2011/09/07/an-exorbitant-burden/
  • Pijl, K. V. D. (1984). The making of an Atlantic ruling class. London, UK: Verso.
  • Polillo, S. (2013). Conservatives versus wildcats: A sociology of financial conflict. Palo Alto, CA: Stanford University Press.
  • Possony, S., & Pournelle, J. (1970). The strategy of technology: Winning the decisive war. New York, NY: Dunellen.
  • Prasad, E. (2015). The dollar trap: How the US dollar tightened its grip on global finance. Princeton: Princeton University Press.
  • Schumpeter, J. (1934). The theory of economic development, New Brunswick, NJ: Transaction Publishers.
  • Schwartz, H. (2009). Subprime nation: American power, global capital, and the housing bubble. Ithaca, NY: Cornell University Press.
  • Schwartz, H. (2012). Political capitalism and the rise of sovereign wealth funds. Globalizations, 9(4), 517–530.
  • Schwartz, H. (2016). Wealth and secular stagnation: The role of industrial organization and intellectual property rights’. Russell Sage Foundation Journal of the Social Sciences, 2(6), 226–249.
  • Seabrooke, L. (2006). The social sources of financial power: Domestic legitimacy and international financial orders. Ithaca, NY: Cornell University Press.
  • Sell, S. (2003). Private power, public law: The globalization of intellectual property rights. Cambridge: Cambridge University Press.
  • Sell, S., & Prakash, A. (2004). Using ideas strategically: The contest between business and NGO networks in intellectual property rights. International Studies Quarterly, 48(1), 143–175.
  • Slobodian, Q. (2018). Globalists: The end of empire and the birth of neoliberalism. Cambridge, MA: Harvard University Press.
  • Smith, B. (2011). American science policy since world war II. Washington, DC: Brookings Institution Press.
  • Spiro, D. (1999). The hidden hand of American hegemony: Petrodollar recycling and international markets, Ithaca, NY: Cornell University Press.
  • Standard & Poor’s Rating Service. (2015). ‘Banking disintermediation in Europe’. Frankfurt: Standard and Poor’s.
  • Starrs, S. (2013). American economic power hasn't declined—it globalized! Summoning the data and taking globalization seriously. International Studies Quarterly, 57(4), 817–830.
  • Starrs, S. (2018). Too big not to fail? Paper presented at the International Studies Association Annual Meeting. San Francisco: International Studies Association.
  • Stokes, B. (2018). Americans, like many in other advanced economies, not convinced of trade’s benefits. Washington, DC: Pew Research Center.
  • Strange, S. (1989). Towards a theory of transnational empire. In E. Czempial & J. Rosenau (Eds.). Global Changes and Theoretical Challenges (pp. 161–176). Lexington, KY: Rowman & Littlefield.
  • Streeck, W., & Yamamura, K. (Eds.). (2001). The origins of nonliberal capitalism: Germany and Japan in comparison, Ithaca, NY: Cornell University Press.
  • Tooze, A. (2016). Just another panic? New Left Review, 97, 129–138.
  • Triffin, R. (1960). Gold and the dollar crisis: The future of convertibility. New Haven: Yale University Press.
  • Waltz, K. (1979). Theory of international politics. New York, NY: McGraw Hill.
  • Weiss, L. (2014). America Inc.? Innovation and enterprise in the national security state. Ithaca, NY: Cornell University Press.
  • Wendt, A. (1987). The agent-structure problem in international relations theory. International Organization, 41(3), 335–370.
  • Wray, L. (1998). Modern money., The Jerome Levy Economics Institute Working Paper 252. Annandale, NY: Bard College.
  • Wray, L. (Ed.). (2004). Credit and state theories of money: The contributions of A. Mitchell Innes. Cheltenham: Edward Elgar.
  • Zeitlin, J. & Herrigel, G. (Eds.). (2000). Americanization and its limits: Reworking US technology and management in post-war Europe and Japan. New York, NY: Oxford University Press.
  • Zimmermann, H. (2002). Money and security: Troops, monetary policy, and west Germany's relations with the United States and Britain, 1950-1971. New York, NY: Cambridge University Press.

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Order Reprints Request Corporate Permissions

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

Request Academic Permissions

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.

Related research

People also read lists articles that other readers of this article have read.

Recommended articles lists articles that we recommend and is powered by our AI driven recommendation engine.

Cited by lists all citing articles based on Crossref citations.
Articles with the Crossref icon will open in a new tab.