FROM TRADITIONAL TO GROUP HEGEMONY: THE G7, THE LIBERAL ECONOMIC ORDER AND THE CORE-PERIPHERY GAP

"Developing a new theory of hegemony, called group hegemony, the author explains how a few wealthy countries maintain the liberal economic order and how this helps to sustain the economic disparity between the core and the periphery in the post-World War II era. The theory proposes that the G7 acts as a global government of last resort - a crisis manager - when other institutions prove inadequate to sustain the world order. The G7 also supplies resources, such as large markets, foreign investment, and funding to international institutions." "The volume develops a theoretical analysis of the G7's significance in international relations. It explains how the G7 countries collaborate to perpetuate the economic order the impart an institutional stability to an inequitable system."--Jacket.