Naná de Graaff

Bastiaan van Apeldoorn

Henk W. Overbeek

In the wake of the outbreak of the global crisis in 2008, many observers expected the state to assume command over a faltering neoliberal finance-led model of capitalism. We now know that this expectation was by and large mistaken. There is indeed an ongoing re-calibration of the state-capital relations, but in many instances the state has become more actively and more deeply involved in extending the reach of markets rather than in constraining markets in the interests of an equitable response to the crisis. This volume offers both theoretical perspectives and empirical studies by a selection of leading Critical International Political Economy scholars on the question how and to what extent we are witnessing a return of the state and a transition towards a new phase of global capitalism. The chapters cover a wide array of topics: from the rise of China and other emerging economies of the Global South, the role of state-owned enterprises such as Sovereign Wealth Funds and National Oil Companies and global environmental politics, to the role of labour in Europe and US grand strategy / foreign policy making in the post-Cold War period. This book was published as a special issue of Globalizations.

Rebound of the Capitalist State

The State–Capital Nexus in the Global Crisis

Bastiaan Van Apeldoorn

This book presents a novel analysis of how US grand strategy has evolved from the end of the Cold War to the present, offering an integrated analysis of both continuity and change. The post-Cold War American grand strategy has continued to be oriented to securing an ‘open door’ to US capital around the globe. This book will show that the three different administrations that have been in office in the post-Cold War era have pursued this goal with varying means: from Clinton’s promotion of neoliberal globalization to Bush’s ‘war on terror’ and Obama’s search to maintain US primacy in the face of a declining economy and a rising Asia. In seeking to make sense of both these strong continuities and these significant variations the book takes as its point of departure the social sources of grand strategy (making), with the aim to relate state (public) power to social (private) power. While developing its own theoretical framework to make sense of the evolution of US grand strategy, it offers a rich and rigorous empirical analysis based on extensive primary data that have been collected over the past years. It draws on a unique data-set that consists of extensive biographical data of 30 cabinet members and other senior foreign policy officials of each of the past three administrations of Clinton, G.W. Bush and Obama. This book is of great use to specialists in International Relations – within International Political Economy, International Security and Foreign Policy Analysis, as well as students of US Politics.

Naná de Graaff

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