POLITICAL ECONOMY

The book under review is the fifth in the series of annuals brought out by Sage Publications in cooperation with the Section on the Political Economy of the World-System of the American, Sociological Association. As indicated by the Series Editor, Immanuel Wallerstein, ‘the intent of this series of annuals is to reflect and inform the intense theoretical and empirical debates about the Political. Economy of the World-System’ (PEWS). The debates assume that the phenomena of the real world cannot be separated into three (or more) categories—Political, economic, and social—which can be studied by different methods and in closed spheres.’

Few will deny that the many complex issues that influence political, economic and social development in different parts of the world at different times, ought to be studied taking PEWS as a whole and examin¬ing developments in a country or group of countries as elements of the World System.