International Economics And World Politics

Global communications, space exploration, and international events are just some of the things that formed the interconnected web between nations and sped up globalization. However, as much as we like to think that the world is making progress, there is still the undeniable fact that some countries citizens are much better off and enjoy a higher standard of living than compared to the people of other nations. Ever since the era of globalization began, the gap between the First and Third World is becoming bigger and bigger.

Global Political Economy is essentially a study of a political battle between the winners and losers of global economic exchange. In fact, understanding global economy relies on a clear knowledge of the process of political competition. Political power possessed by actors regulates economic activity and in turn this creates the basis for and affects political power. Through, critical analysis of the concept of global political economy it becomes clear that there are three prominent theories that form GPE, mercantilism, economic liberalism and Marxism.

While both the North and the South had stable and confident economic systems, the North was much more industrialized and diversified and with a better transportation system they not only had the ability for mass production but also the means for speedy and

Kegley and Raymond stated: “The shape of the world’s future will be determined not only by changes in the objective conditions of world politics, but also by the meanings people ascribe to these conditions.” Terrorism is presently a major factor in international relations and has impacted the world to change in many significant ways. Terrorism is a political ideology that has been problematic in defining definitely because of its various interpretations around the world, as well as the fact that it is constantly evolving. Since the terrorist events of 9/11, the lives of many have been changed forever. A small group of individuals, which are a mere fraction of the population of the world, have managed to impact and shape the way international and domestic relations are looked at and handled. People question how secure and safe they feel due to uncertainty of public safety because of events such as 9/11. The war on terrorism in the 21st century has certainly and inevitably changed the landscape for global politics. However, the relationship between terrorism and global politics is troublesome and in ways problematic to describe accurately. Both terrorism and global politics individually are complicated phenomenon. It is erroneous to propose that one is responsible for the other or vice versa, but they are inextricably and inevitably linked. In the study of international relations, there are multiple theories and theoretical perspectives. In this essay, realism and liberalism

In addition, I had the opportunity of case studies. Which gave me a well-rounded perspective on particular cases in International Relations. For instance, at Turkish Foreign Policy class, we analyzed Cyprus Issue with all aspects, actors, approaches and events. By learning international security theories, I was able to realize that, every conflict and situation can be systematically and sophistically analyzed by IR theories. Without studying security theories, international disputes cannot be analyzed and understood properly. Throughout my studies as an undergraduate student, the importance of economic effects on International Relations became obvious to me. Current market liberal economic system and multi-national companies affect policy making processes of the states. Economic crisis affects nearly every country on the globe because of economic interdependence between countries. Thus, in order to understand and gain more sophisticated perspective about economic effects on IR, I attended classes as, International Economics, History of International Economic Relations and History of Economic

When studying International Relations, there are various theories involved, three of these theories being: realism, liberalism, and constructivism. A theory is fundamentally ideas and complex concepts that have their own way of understanding something. These theories are used in evaluating world politics, by coming up with a unique way of identifying and explaining the events that occur around the world (Mingst 5). The theories help explain different perspectives on how the world system functions; as the political scientist, Stephen Walt explains,

In an ecosystem, the symbiotic nature of relationships between all living things and their environment is both beneficial and challenging. Elements within that system can never really exist in complete isolation from each other. Such is the case with the economy and politics. Economic and political policies affect each other through many factors creating both positive and negative effects and other challenges to neutrality. The result is a complex network of policies influencing the landscape of the global economy and politics.

The economic collaborations amongst countries like international trade affect the economic activity by resources and consumer preferences. International trade is a large portion of a country’s payments which compares the economic activity between a country and all other countries. The president has influence on the economy with the support of congress. Congress ensures the economy is stable. The Federal Reserve stimulates the economy by regulating the nation’s financial institutions and dictates economic and monetary policies.

Political economy is the study of production and trade and their links with custom, government and law. It is the study and use of how economic theory and methods influence and develop different social and economic systems, such as capitalism, socialism and communism, and it analyzes how public policy is created and implemented. Since various individuals and groups have different interests in how a country or economy is to develop, political economy as a discipline is a complex field, covering a broad array of potentially competing interests (Investopedia).

The three main theories used in international political economy are constructivism, realism and liberalism. Scholars commonly use the theories to explain economical events in the international political economy. Liberalists are concerned about interest of individual while constructivists are much concerned about how international relations are constructed by ideas in the system. This paper uses realism theory to explain relationships among state and non-state actors in the international system. Realism is based on the idea that the international system exists according to the Hobbestian state of nature, which is anarchic and brutal. There is no authority above states in the system (Marten 9/12/2011). The influential states have powers that

Learning about the events that lead to the modern global political system and global market defiantly strengthened my belief that the global trade has significant benefits, taught me that economic incentives and potential loss can prevent wars, and money runs the world when it comes to being politically dominant. In the medieval ages the kings were dominant and had power over little except the economy. “The economy was not thought of as a distinct sphere separated from politics but instead as a tool of statecraft which the state could manipulate to serve its own ends.” (Erik Ringmar). Times have changed and medieval kings do not rule all the land but the concept remains the same, countries use their economic standing as a way to make deals, prevent political issues, and push forward their political agenda. This is not always successful especially when it came to the Cold War because the US and the USSR were both economically built

In the chapter, the authors provide an overview of the key approaches to IPE. In the first part of the chapter, they provide an overview of the International Political Economy approaches by focusing on their assessments of the key actors, dynamics and prospects for conflict and coopering in IPE. In the second part, they outline the development of the field since the 1970s by considering the careers and works of the three prominent major IPE scholars Susan Strange, Robert Cox and Robert Keohane and the issue around which existing scholarship clusters. And, in the final part, they conclude with the approach of the book.

[2] Krugman, Paul and Obstfeld, Maurice. International economics. Reading, Mass.: Addison Wesley Longman, 5th Ed. 2000. pp. 611-618

Students of Government & Political Affairs study the many facets of government and politics, including elections and electoral behavior, legal and judicial systems, foreign policy and conflict resolution, the political implications of race, gender and ethnicity, and the moral and ethical issues associated with democracy, global justice, and human rights. A degree in Government and Political Affairs provides students with a deeper understanding and knowledge of the driving forces that guide people, communities, and even the business world of today in both the national and international arenas.

Along with the twenty-first century tagged an interconnected and globalized world, consociated by instantaneous worldwide communication and the free dissemination of information. With this new era of technology, economic policies of nation-states have become so interdependent that most nation-state economies would be crippled without their respective international trading partners. As such, one may wonder if an introspective national policy is appropriate, as argued for by the source. For example, one may contend that international cooperation inevitably results in unequitable compromise, with the more powerful nation-states forcing developing countries into partisan trade-deals. This argument, however, does not take into account the