Is Neo Mercantilist Theory

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Economics theories are just as important as international relations theory. This is because economics theories that implemented as a economic policies for a countries will determine whether it will prosper the country’s wealth or not. Economics theories are not just determine national economic stability but it also can gives effects to international economic system. Even, economics theories are common to be discussed among scholars on how the economics theories will gives effects to international stability, and this can be seen through what Malmgren have said in his paper:
“Commercial and financial issues are starting to replace traditional diplomatic and security questions as the main stuff of foreign policy. This shift in priorities in part a consequence of the receding threat of war between the superpowers. But, just as important, a sweep of world-wide economic adjustment is also under way, changing the framework of inter-national politics.”
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In this paper I will solely discuss one of the most famous economics theories in political economy that is neo-mercantilist theory. Before moving further to my discussion, one important question here, what is neo-mercantilism? Neo-mercantilism is the revolutionary ideas of the classic mercantilism theory. Neo-mercantilism is the new and improved ideas of classic mercantilism. Traditional mercantilism is known to its characteristic that is implementing extreme protectionism to their country economy and almost similar to the isolation
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