Free

Alternative perspectives of international political economy 2 - Essay Example

Comments (0) Cite this document
Summary
Chapter 5 — "Alternative Perspectives of International Political Economy The International Political Economy (IPE) concerns states, markets, and society, but it also means so much more than this. Liberalism, economic nationalism, and security can also be attached to IPE…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER94.9% of users find it useful
Alternative perspectives of international political economy 2
Read TextPreview

Extract of sample
"Alternative perspectives of international political economy 2"

In terms of IPE perspectives, states act in the national interest, markets by self-interest, and class conflict occurs between differing interests of socio-economic groups. Rational choice theory provides a platform of decision making from which an analyst can judge financial decisions based on economic, political, and social changes. Also known as public choice analysis, this critique attempts to explain why one choice or decision was made over a number of other alternatives. It is assumed that decision makers act in a way to reduce costs and maximize gains when making hard choices. Another factor that is assumed is that people or states make judgments based on the importance attached to each outcome. As an example, during the Cold War both the United States and the Soviet Union took steps to build new nuclear weapons in order to keep up with the other. These decisions were made based on not giving the other side an advantage, as otherwise it might force a surrender from the weaker state. While it is assumed that states make choices, economists argue that political leaders do since they are the ones elected to represent the people. Of course even though these leaders still have self-interest, they are required to interact with those around them in order to find the best solution for everyone. The second critique of IPE is constructivism, a theory that involves breaking something down or taking it apart to find the true reasoning for decision making. Some theorists, such as Alexander Wendt, have looked at how ideas and beliefs shape the decisions that states make. In other words, constructivists believe that state choices or decisions reflect the many number of social values and belief systems contained within society. While states are considered to be more of a political nature, they are also social actors since they are required to adhere to the social norms and rules that society chooses to live by. An example of this is when UN peacekeeping missions are tasked settle disputes and the same member nations (Canada, Norway, and many other European countries) tend to get involved each time. The reason is that these nations are in favor of peaceful means to settle disputes and favor dialogue over war. On the other hand, the feminist critique looks at many of these same issues but through a gender lens. Gender plays a large role in the social expectations for both men and women, and so it is assumed that this also takes place in economic thought. An example is that men often look to solve disputes through violence and war, as that is what they are accustomed to, whereas females tend to take a more diplomatic approach. As males have throughout history been in charge of such decisions, states have gone to war more often than not due to this difference between the genders. Feminism looks at how gender influences many political, social, and economic issues. Female IPE theorists often argue that studies on the subject are typically dominated by male opinions and points of view. They would argue that women should be better represented in international organizations, NGOs, and transnational corporations. Finally, the hegemonic stability theory believes that powerful countries are able to dominate the world economic system for a time, using their power to enact changes that are favorable to them only. History in filled with many instances of this, from the United States to Great Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Alternative perspectives of international political economy 2 Essay”, n.d.)
Retrieved from https://studentshare.org/history/1489576-alternative-perspectives-of-international
(Alternative Perspectives of International Political Economy 2 Essay)
https://studentshare.org/history/1489576-alternative-perspectives-of-international.
“Alternative Perspectives of International Political Economy 2 Essay”, n.d. https://studentshare.org/history/1489576-alternative-perspectives-of-international.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
INTERNATIONAL POLITICAL ECONOMY
...?INTERNATIONAL POLITICAL ECONOMY- A case study of Tanzania Introduction Tanzania is a medium-sized poor country located in eastern part of Africa andborders with Kenya and Uganda among other countries. During the last four decades, the country has enjoyed general political stability and national unity in a region wrecked by ethnic conflicts (Cunningham, 2010). Tanzania is a socially diverse country with nearly125 ethnic groups (Buchert, 1994). Tanzania is as a result of a union between mainland (Tanganyika) and the islands of Zanzibar, Pemba and a number of other smaller islands which was formed in 1964 (Tripp, 1997). To this date, the islands are semi-autonomous with...
6 Pages(1500 words)Essay
International Political Economy
...? International Political Economy Table of Contents Introduction 3 Composition of the IMF Executive Board, Voting powers 3 Design and operations of IMF 4 Conclusion 6 Reference 8 Introduction The project seeks to bring forth the three worldviews of liberalism, economic nationalism and structuralism as they have evolved over the years. This is done to explain which of these three views is most applicable in the functioning, design and operations of IMF, the Internal Monetary Fund. The study of the organizations;’ composition of Executive Board, working of voting powers, selection of Managing Director is explained in the context of the above theories. It also mentions some...
5 Pages(1250 words)Essay
International Political Economy
...with increasing lack of faith in the dollar. The lack of confidence, together with the growth of better market alternatives for gold, resulted in speculators depleting the American gold reserves for export to countries such as France as the expense of the former’s economy. Conclusion Generally, between 1870 and 1914, most of Western countries built their economies on a proper integrated system, which marked the first era of globalization. The period witnessed gold specie being used as the global standard of exchange. The First World War reversed the well-meaning international cooperation among global powers, however. After the conflict, many countries abandoned global...
7 Pages(1750 words)Research Paper
Alternative perspectives of international political economy 1
...? 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. Rational Choice: The first of these that is represented to the reader is that of the Rational Choice model. The authors note that this particular model is so pervasive that it has become something of a second nature with regards to understanding and analyzing the way... of the...
3 Pages(750 words)Essay
International political economy
...? International Political Economy International Political Economy The book, Building Social Business: The New Kind of Capitalism that Serves Humanities Most Pressing Needs, by Muhammad Yunus delves into the new dimension of capitalism. In the book, Yunus describes social business as a means of having individuals produce products and services that make the world a much better place. According to Yunus, the main aim of social business is to satisfy the general needs and desires of individuals even as organizations strive to make profit through their business ventures and endeavours (Yunus 2011, p. 92). The phenomenon of social business is...
4 Pages(1000 words)Essay
International Political Economy
...1. Introduction. Ttreault and Abel (1998: p. 3) identify two important realities in modern international political economy ly material and ideological realities. These realities are both absolutely real and occupy the same space at the same time and none of them is destined to predominate the other. The material reality derives from the distribution of raw materials; technology; economic and political alliances; and the cost of labour, investment capital, and land. The ideological reality is often based upon nationalism and its seemingly inevitable cconcominatnists: misperception, insecurity, and the need to establish and expand power and prestige. (Ttreault and Abel,...
14 Pages(3500 words)Essay
International Political Economy
...economic system. Recent experience has shown that liberal capitalism in its purest sense benefits mostly those at the top to the resentment of the middle and working class. But despite these flaws, liberal capitalism along with globalisation is still the most workable political and economic system particularly with the pervasiveness of technology where it helped erased geopolitical boundaries of nations to help facilitate globalisation. Liberal capitalism is also the most responsive to change wrought by the pervasiveness of technology not only in international trade but also in many aspects of our lives. The viability of a political and economic system rests not on the purity of...
3 Pages(750 words)Essay
International Political Economy
...International Political Economy of 19TH APRIL International Political Economy Introduction Maswood (2000) stated that investigating the reasons and the various effects of financial and economic crises is one of the major objectives for the scholars of International political economy (IPE). The feminist IPE theory is a new perspective that seeks to explain the gender concerns in the studies of international politics. Maswood (2000) stated that the main purpose of the feminist theory of IPE is to understand the effects of gender on...
6 Pages(1500 words)Essay
International political economy
...International political economy The current sanction that have been propagated by the West on Russia, have got their own toll on the trade, fiscal and corporate policies of Russia. A fierce debate has already been generated in Washington D.C following the approach that the sanction by Mr. Obama has taken. The same application of sanctions have been adopted by European countries by responding with tough rhetoric thus, triggering the question, what else needs to be done to contain Russian on its front towards Ukraine? Considering the corporate policy, it would be arguable that the most obvious way by which the sanctions against Russia could be fronted is through the exertion of further...
1 Pages(250 words)Assignment
International Political Economy
.... The definition of globalization is seen as the growth economy of interdependent countries through the increase of volume and variety of the cross-border transactions in goods. There is also the growth of international capital flows and the widespread of technology. The political economy, however, does not sufficiently convey to globalization. However, in future, the global economy will resemble the golden straitjacket. As a result, there are two things that will be a cause of the country putting on the Golden Straitjacket. One of them is that the country’s economy will grow, and its politics will shrink. The Golden...
4 Pages(1000 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Let us find you another Essay on topic Alternative perspectives of international political economy 2 for FREE!
logo footer
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • StudentShare App Store
  • StudentShare Google play
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • Miscellaneous
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us