Focusing on the crucial role of finance in the international political economy from an international relations and political science perspective, "Finance and World Politics" analyzes the economic and political reasons why financial markets have so rapidly become transnational. It examines the breakdown of the old system but chiefly concentrates on the problems of the new. Who will control international money in this new environment and is domestic economic policy condemned to an embedded financial orthodoxy of long term austerity punctuated by financial bubbles and panics? The contributors argue that as a result of these changes the possibility of any state exercising overall dominance and control, or hegemony, in the future has become negligible. The book addresses international finance directly from a political economy perspective, making it a valuable tool for students and lecturers, as well as a significant contribution to policy debates taking place in both the public and private sectors.