Seán Ó Riain
CCOP Working Paper #2000-07
January, 2000
Globalization is transforming
the relationship between states and markets. Even as some authors
predict the demise of the state in the face of increasingly global
markets, others focus on the role states play in constructing
markets themselves and making sustainable market interactions
possible. As the times change so do our theories, generating new
concepts which can be used to better understand the previous period.
This paper undertakes such a project. I argue that state, market
and society are embedded in each other and constructed by their
interactions with one another . The paper briefly reviews world-systems
and comparative political economy analyses of the relation between
states and markets. This review provides the framework for a discussion
of the variety of models of state-market interaction in the postwar
'Golden Age' of capitalism. Finally I review the challenges which
globalization poses to these models and consider contemporary
experiments with state-market relations in a transformed international
order.
(This is a draft of a paper
to be published in the Annual
Review of Sociology.)
