Contact Us
Sign In / Sign Up for FREE
Go to advanced search...

The Key Differences between Orthodox and New Approaches to International Political Economy - Term Paper Example

Comments (0) Cite this document
The author identifies the key differences between ‘orthodox’ and ‘new’ approaches to International Political Economy. The author states that the orthodox approach to the ‘International Political Economy’ stands in contrast to the new meaning attached to the term…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER98.4% of users find it useful
The Key Differences between Orthodox and New Approaches to International Political Economy
Read TextPreview

Extract of sample "The Key Differences between Orthodox and New Approaches to International Political Economy"

Download file to see previous pages The orthodox approach refers to distinct related approaches with basic assumptions, unlike orthodox economics, to study economics and political behavior that coalesces economics with other fields. Thus, it has become interdisciplinary studies of economics, law, and political science, which help in grasping the inter-relation of political institutions and capitalism – how they affect each other in the political environment. The new range of approaches to the ‘International political economy’ (IPE) refers to international trade and finance and the government’s monetary and fiscal policies that decide which way the international business of a state proceeds. These approaches to IPE are linked with the journal The Review of International Political Economy (RIPE), edited by British and American scholars. ( )

Ronen Palan in his book, Global Politician Economy: Contemporary theories, has summarized the IPE in the preface of the book - “…. The emphasis on negotiation, contestation and historical narrative underlines the open-mindedness of contemporary processes in the Global Political Economy”.
The name of Robert Gilpin, the dean of American students of the international political economy stands high in the field because of the new approach to IPE, which is due to the focus he has given to essential economic, political and technological forces changing the world. His Global Political Economy: Understanding the International Political Order is a masterpiece of scholarly research done on the different approaches to comprehending international economic relations. The book also takes into consideration the problems the new economy faces. Gilpin has taken into consideration the newly emerging economic and political forces; how the new technology, computing, and regionalism are changing the face of the world economy after the end of the cold war. ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(The Key Differences between Orthodox and New Approaches to Term Paper, n.d.)
The Key Differences between Orthodox and New Approaches to Term Paper. Retrieved from
(The Key Differences Between Orthodox and New Approaches to Term Paper)
The Key Differences Between Orthodox and New Approaches to Term Paper.
“The Key Differences Between Orthodox and New Approaches to Term Paper”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF The Key Differences between Orthodox and New Approaches to 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 their own president and legislature and are mainly inhabited by Arabs...
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 of the conditions that countries need to fulfill in order to receive...
5 Pages(1250 words)Essay

International Political Economy

... of the World Bank and the International Monetary Fund (IMF) at shortly thereafter, was a tremendous step from the previous gold exchange era. The two global financial institutions were basically meant to substitute previously unstable private source of finance for investment in under-developed countries (Ugolini 11-13). At the time, Germany and Japan who would be outdone in the quest for economic power were seen as the likely beneficiaries of the funds in the short run. The new exchange rate enabled the IMF to authorize the devaluation of currencies of countries that are facing economic crises, as this would keep such weak economies in the gold standard economy. In light of this, White suggested that capital control measures were brought...
7 Pages(1750 words)Research Paper

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 taking a hold of the entire corporate world as it gradually takes a position among some of the famous...
4 Pages(1000 words)Essay

International Political Economy

Alternatively, authoritarianism in Latin American was expressed through repressive state organs, a chokehold over the media and personal rule but neoliberal economic policies, particularly in Chile under the rule of military strongman Augusto Pinochet. Thus, while both Latin America and Eastern Europe share a legacy of authoritarian economic, social and political development in the latter half of the 20th century, the means through which authoritarianism was expressed will have ramifications on the transitions of each region with respect to a variety of social developmental factors (ODonnell, 2004).
In the Latin American context, unique challenges are raised with respect to economic reform in a post-authoritarian setting. S...
10 Pages(2500 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 diplomatic pressure. Sticking to diplomacy considering...
1 Pages(250 words)Assignment

International Political Economy

..., the global economy in the future is impacted by the economy now. The thesis of the paper is to see how the global economy will resemble the golden straitjacket, come the year 2100. The golden straitjacket is a term commonly used when it comes to economy and politics. The golden straitjacket is said to narrow the economic and political policy choices (Friedman, 1999). By doing so, those in power are placed in moderately tight parameters. The golden straitjacket may seem like an advantage to many political governments but the tighter it is, the more the difference between opposition parties and the ruling parties become difficult to be identified (Friedman, 1999). In the near future, the global economy shall resemble the golden straight...
4 Pages(1000 words)Essay

The French New Wave

... structure. And he ends up creating a parody of a gangster film! “The unseizable fluctuation between imitation and parody of the American gagster mode” as Peter Harcourt calls it (Six European Directors pp217) The change of attitude towards the film structure is evident from the very opening of the film. The film opens on the last page of the news paper- a Paris-flirt pin up -which carries an advertisement showing a woman in lingerie. This opening shot is so different from the opening of an American gangster film, which will usually open with an establishing shot of a place or location where the investigative story is going to unfold. Our attention here is never caught up with any plot suggestion. But in the subsequent shots we get...
8 Pages(2000 words)Essay

International Security Studies: Examination

Globalization affects international security in the sense that problems involving terrorism, the environment, religious extremism, weapons of mass destruction, and the economic crises have become more universal and widespread in character (Ivanov “Article”). As a result, these issues pose a greater threat to national and international stability and safety. More lives are now affected by threats to international security; these threats did not seem too ominous before the entry of globalization. Consequently, some extremists justify the use of mass weapons of destruction in order to guarantee their security. And as globalization continues to expand and to grow bigger as a phenomenon, threats to international security are...
7 Pages(1750 words)Assignment

Christian Dior: The Man Who Made The World Look New

However, Christian was interested only in the arts and mostly in fashion (YourNewFragrance, 2004). Even as a child he was interested in the life of the artisan community (Hirst, n.d.). Unknown to his parents, he would visit galleries and bars that were frequented by painters and writers such as Picasso and Cocteau. His parents did not allow him to pursue studies at the Academy of Fine Arts and he was forced to enroll at the Faculty of Political Science. He, nevertheless, secretly continued to visit the galleries. After four years at the Faculty of Political Science, it became clear that he would never obtain a degree from there and his mother too lost hopes of seeing him as a diplomat. In the meantime, Dior developed a wide circle...
6 Pages(1500 words)Essay

The Relationship Between Common Law and Custom, Equity, and Books Of Authority

This follows the common law theory that cases that have a great deal of similarity should need to be dealt with similarly and decisions or court verdicts passed accordingly, although this may not be viewed as strict practice. Custom, as a historical source of law, could be said to be the legislative statutes or laws that need to be implemented from time to time, and could also be termed as statutory laws that monitor public conduct. Thus, it could be said that while regulatory laws are created and nurtured by legislations and regulations, through the executive powers enforced by executive branch agencies, this is done through the delegation of authority from the top downwards. However, in the case of common law or case law, decisi...
6 Pages(1500 words)Assignment

Comparing the Brave New World and Todays World

Many people had been doing this search several times and came up with nothing. Out of this seeming hopelessness and uselessness came the philosophical idea of the absurd – that Man's search for individual meaning is bound to end in absolute failure. Man has studied the cosmos and tracked the movement of celestial bodies in an attempt to find any meaning that can somehow alleviate his worries about what happens next when the real world (as he perceives it) is left behind and he enters perhaps another world where no one returned. In other words, Man tried to achieve immortality but apparently failed in his search.

It has as a central idea that whatever else Man does will ultimately end up as nothing. This is the cen...
8 Pages(2000 words)Term Paper

Dengs Political Reforms

Furthermore, the common people were allowed to scribble their thoughts about the incumbent government on the famous Beijing Wall. That is why when Deng came to power he was welcomed by most of the people especially the students, but this reaction of the people was short-lived.
Although Deng did believe that political reform was needed for the sustainable growth of the economy, he made it very clear that these reforms could not in any way bring the western-style democracy in. (Gittings, 2006). China’s conservatives even believe that he defined ‘political reform’ in a very narrow manner. For him, political reform meant something that could help the government in keeping the economy stable and hence motivating...
9 Pages(2250 words)Assignment

The 1846 Invasion into Mexico by the U. S.: The Political and Economic Forces that Brought about the Invasion

Some of the territories led to a war with Mexico from which the United States emerged victorious, expanding its territories and decisively establishing its dominance in North America.

President Andrew Jackson led an example of an administration that set the stage for the way in which James Polk would lead. In 1817, as a still yet military leader, Jackson led the United States into the first of three conflicts with the Seminole Indians from which the acquisition of Florida from Spain would be negotiated and finalized. The situation with Spain was tenuous and should have been dealt with in a diplomatic and cautious manner, but in 1817 President Monroe wrote a letter to General Jackson stating that “Great interests...
8 Pages(2000 words)Article

Project Management of Beijing Capital International Airport T3 Terminal

Some stakeholders can be both driving (positive) and restraining (negative) forces, it depends on how the project will meet their interests. These forces are marked by a dotted line. If changes happen, and the project won’t meet the interests of some of these stakeholders, a vector of the corresponding force will be changed onto the opposite and the force will move onto the opposite part of the diagram.

Each half of the diagram (left and right) is divided into three parts – Low, Medium and High. It defines the size of a force vector and indicates the importance (power) of a given force. Short forces have a low level of power.

Civil Aviation Administration of China (CAAC) – undoubtedly advanc...
7 Pages(1750 words)Assignment

Economy and Social Activity of The Broken Hill Community

Soon a retail industry was built up and the community began to grow and is considered to be a society with a civic nature (Learning Communities in Education and Training, 2009). The community of Broken Hill can be considered to be highly diverse with a census that was conducted in the area in 1996 showed that out of the then population there were 961 people who came from overseas and a large amount of those was not from an English speaking nation. The large composition of the population in the community at the time was aboriginals or Torres Strait Islanders. Broken Hill thus shows a varying ethnic community and a diverse mindset considering a large proportion of the people are from nations such as Greece, Malta and even Italy (Lea...
6 Pages(1500 words)Case Study

Characteristics of a Mixed Economy

Economic systems are crucial to the progress of a nation for they shape the way a nation’s economy operates. There are three major types of economic systems, namely: A planned economy which operates at the sheer instructions of the Government; Market Economy has complete independence in its operations and is at the disposal of the market forces of demand and supply, Mixed Economy is an amalgamation of features from both the previously mentioned economic systems and therefore has economy operating tools which are shared by the private sector and the public sector, hence it could be regarded as a balanced mixture of the political ideologies of capitalism and socialism (Schlesinger, 1962). A mixed economy is an intricate and co...
6 Pages(1500 words)Coursework

International Political Economy

... of the day. To understand how the economic systems affect most countries, the relationship between the United States and Cuba is a living testimony (Scott, 2005, p.97). The two countries have been in a state of cold war for decades. This is because the two countries have different economic systems that make it difficult for them to engage in any businesses. The United States has always wanted to ensure that its hegemonic culture is perpetuated in Cuba (Scott, 2005, p.98). Globalization and politics This is one of the major social phenomena that proofs that economy and government are inseparable. One of the major expectations by the international political economy is globalization (Arrighi, 2003, p.87). This is explained as the process...
18 Pages(4500 words)Assignment

International Political Economy

... & Newman, 620). The relationship between these three disciplines converges where the need for an understanding into how the economy of different countries and relations between them are affected by different factors such as politics and business (Rochester, 135). The disciplines of IPE, economics and IR exploit the relationship that exists between economics and politics as posited by various political analysts and classical economists such as Karl Marx and Adam Smith (Frieden, 54). The close connection between economics and politics in international relations receives support from the happenings in the 18th and 19th century, when the creative dispensation of political power played a key role in the support of a framework applied...
12 Pages(3000 words)Research Paper
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 Term Paper on topic The Key Differences between Orthodox and New Approaches to International Political Economy for FREE!

Contact Us