CHAPTER II National Systems of Political Economy George Friedrich List (1789-1846), wrote a book called “National Systems of Political Economy” published in 1841 He did not agree with the “classical” free market economics of Adam Smith and David Ricardo. According…

CHAPTER IV   International finance   International finance (also referred to as international monetary economics or international macroeconomics) is the branch of financial economics broadly concerned with monetary and macroeconomic interrelations between two or more countries.   The field of…

CHAPTER III Free trade Free trade is the economic policy of not discriminating against imports from and exports to foreign jurisdictions. Government follows a policy of non-interference. Buyers and sellers from separate economies may voluntarily trade without the domestic government…

The globalization problem is quite different from the traditional state-centered concerns of International Relations, which is one reason some IPE scholars consider IPE a distinct academic discipline, not just a sub-field of International Relations. As a process driven by the…

The theory of hegemonic stability was arguably IPE’s most important contribution to Cold War international relations theory. A hegemon is a powerful state that supplies public goods to the international system. These public goods include stable money, security (such as…

Multinational corporations (MNCs)—also called transnational corporations—have always been objects of interest to IPE scholars and practitioners. During the Cold War, MNCs were often viewed as being linked with their home government by an “invisible handshake.” The home country government created…

The Cold War analysis of less-developed countries (LDCs) was focused on the East-West bipolar alliances and the place of LDCs in geopolitical strategy. LDCs were strategic pawns in the Big Power Cold War game. As international trade and international finance…

International Finance presents the second set of problems that have traditionally defined International Political Economy. The IPE of International Finance includes analysis of exchange rate policies, foreign exchange systems, international capital movements, and international financial institutions such as the World…

Politics and Economics approach international trade from different points of view using completely different analytical frameworks. The problem is that states think in terms of geography and population, which are the relatively stable factors that define its domain, while markets…

The academic boundaries of IPE are flexible. Despite such disagreements, most scholars can concur that IPE ultimately is concerned with the ways in which political forces [states, institutions, individual actors etc] shape the systems through which economic interactions are expressed,…