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International Political Economy Theories

International Political Economy Theories

The Study of International Political Economy: Marxism

The ideas of 19th-century German philosopher Karl Marx offer a third political approach toward understanding economic behavior and policies. Marxism focuses on the inequality of relationships between economic classes and the vulnerability of the poorest economic groups to exploitation from wealthier and more powerful groups. Marxists view international economic relations as an extension of the class struggle between the rich and poor. The Marxist approach has declined in prominence since the late 1980s, especially with the collapse of socialism in the former Soviet bloc, and the movement towards capitalism in China. However, Marxist theories still receive some attention from scholars, especially in the study of relations between the world’s rich and poor nations. ” (1)

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Notes and References

Further Reading

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4 responses to “International Political Economy Theories”

  1. international

    This entry is a presentation of the exemplary international relations theory research of the late 1980’s and beyond. The article attempts to incorporate economic writings into an interdisciplinary study of international political economy. It is generally successful, but there is a need to further develop this type of complementary approach to include more specific consideration of foreign policy analysis and international legal scholarship.

  2. international

    The entry stresses the liberal emphasis on market, takes seriously the Marxist critique of the world economy, incorporates the significance of national and strategic interests, and recognizes the significant role of state in the world economy. The author is especially interested in assessing how international politics and international economics interact and affect one another.

  3. international

    The first part set forth the contending intellectual perspectives and theoretical issues. He discusses the three prevailing ideologies: Liberal, Marxist and Nationalist. Later, the entry assesses substantive issues; the international monetary system, international trade, the multinational corporation, international economic development, and the international financial system. The entry concludes with an assessment of present issues and problems in the years 1980-1990 and such as changes transforming the system and the rise of regionalism and sectoral protectionism.

  4. international

    The liberal economic school, as a matter of general theory and a theory of change, as modified by lessons of the post- war era, includes heightened concern for strategic and national interests and the role of states in the international economy. Some authors employed this approach and concluded that if American political leadership is not able to foster beneficial change among the increasingly nationalistic countries of the international system, then economic warfare will result.

    They argued that world history does not disclose the primacy of either economic or political forces, but rather reveals an equal interaction of the two. To the extent they synthesized the issues confronting international relationists and economists and focuses on the central policy issues of the late 1980’s, they performed a beneficial service to both the professor and practitioner.