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Alternative perspectives of international political economy 1 - Essay Example

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Introduction: Chapter 5 begins by noting the main differentials of International Political Economy (IPE) that have thus far been discussed. The authors therefore discuss liberalism, structuralism, and economic nationalism. However, rather than merely delineating these and extrapolating further inference based upon them, the authors delve into a discussion and analysis of the different theories that can be applied to each one of these previously discussed IPE models…
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Download file to see previous pages The ultimate generalization that exists within the rational choice model is that the individual or collective will make a choice based upon that which maximizes their overall best interests. However, the authors point to the fact that the rational choice model presents a noted difficulty in the fact that it raises the question of who and what defines the “public”. Whether or not there is indeed a concerted voice, even within a democratic system is an issue that directly concerns the means through which the rational choice model can be applicable to IPE. The authors reference the case in point of corrupt elected officials acting “rationally” by accepting bribes and payouts; however, even though this is true with some, the rational choice model inherently breaks down over such mores and norms of character that are exhibited by others who refuse such bribes and payouts. Ultimately what is rational choice for one is not for another; thereby calling into question the degree and extent to which this can or should be used to define IPE. Constructivism Constructivist theory is introduced as a “deconstruction” of existing factors. ...
ssumptions of constructivist theory, with respect to IPE, can be summarized in the following: 1) ideas, beliefs, values, and identities of individuals and groups are the key to understanding IPE 2) ideas, values, beliefs, and identities are socially constructed 3) ideas, values, etc., are social forces that are more important than military or economic factors 4) conflict and cooperation are products of values and beliefs 5) change can be explained by examining changes in the values and beliefs of individuals and other actors over time. Feminist Critique Within the feminist critique, the authors argue for the fact that IPE is predicated upon the norms, mores of gender roles, stereotypes, patriarchy etc. Moreover, overlooked aspects of IPE are due to the fact that the pervasive sexism has sidelined women over the decades. As such, a focus upon gender, loaded language, subtexts, male dominance of not only society but economic studies especially economics is oftentimes engaged. This is a broad based dynamic that is not succinct and can easily be transitioned to apply in a great litany of different situations. Ultimately, the dynamic through which the decisions of IPE have taken place since the dawn of time have in fact been dominated by men and by a patriarchal sense of sexism. As such, it is perhaps this one approach, of all the others that have been engaged, that has the most to offer with regards to approaching seemingly old issues from a fresh perspective and gaining new insight into them. Hegemonic stability theory Hegemonic stability theory can roughly be defined as the understanding that a given power, invariably rich and powerful, dominates other states for a length of time; instituting norms, expectations, and ultimately collapsing under its own weight. Such a ...Download file to see next pagesRead More
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