Essay On International Political Economy

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In a world as interdependent as ours, the economic factors cannot be ignored longer for studying the international politics. All important international agendas from international security to development and climate change have an explicit or implicit economic dimensions. The political and economic future of nations can no longer be discussed in isolation and the status of every nation in the web of economic exchanges and political dealings must also be given due weightage. .International Political Economy (IPE) is a social science that attempts to understand the way the political actions of nation-states noticeably affect global trade and monetary flows, which as a result affect the atmosphere in which nation-states take political decisions…show more content…
This theory sees global politics as a “struggle among self-centred states for power and position under anarchism, where each competing state seeking its own national interests”.[1] The two important exponents of this theory were Alexander Hamilton (1791-19991) and Fredrick List (1185-1191).In 1790, the Hamilton urged for protection of American manufactures from foreign competition so that they could industrialize and increase their…show more content…
“Smith claimed that if everyone is left to their own economic plans instead of being controlled by the state, then the result would be a harmonious and more equal society of ever-increasing prosperity”.[5 Besides this, liberalism is the driving force behind economic integration and the globalization programme. Liberals take the global system as one of interdependence and don’t see it as a zero-sum game where one losses and other

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