Briefly Outline And Contrast Three Approaches To Ipe( International Political Economy) And Discuss Their Central Themes. Which One Do You Think Best Explains The International Political Economy Of Today ? Explain Your Answer/ Outline The Key Differences B

p 1IPEApproaches to International governmental miserlinessOne can notice that diametrical International political Economy (IPE Kurch Burt and Robert Denemark , Constituting International governmental Economy . Lynne Rienner Publishers : Colorado , 1997 . cash advancees which have been employ to discuss the changes in IPE during the pre novel and modern period . Different approaches to IPE are : Liberal custom Mercantilist tradition , and Marxist tradition . The Liberal approach gives splendor free trade and the voluntary trade contacts amongst various economies depending on their resources and sparing exacts . The Mercantilist approach is the mercantilists stress the need for competition in the midst of the states which results in one state rising superior than other states . The Marxist approached believed that world economy consists of competitive competition and the conflict between the capitalist and the working disparateiate . The capitalists are always in search of profits and in to achieve this they force other economies to accept domination of the competitive economies . Within the Marxist tradition dependency hypothesis Vincent Mahler , habituation Approaches to International Political Economy A Cross interior(a) Study . Columbia University Press : Columbia , 1980 . is used to explicate the difference between the core and the periphery . Marie Lavigne , International Political Economy and Socialism . Cambridge University Press : Cambridge , 1991 . The economic strength of developing countries depends on their international relations . These different approaches give different explanations for the effect of gap between the rich and poor countries and the constitution of international relations which take the world economies . The dependency theory provides the best explanation regarding the international economic relations . Ngaire forest , International Political Economy in the Age of globalisation , in John Baylis and Steve Smith , The Globalization of World government An Introduction to International Relations , 2004 . pp 332-333In America , the scholars have used the neo utilitarian ideas which refer to the use of economic concepts to explicate political developments .

This approach argues that the members of world economy are cognizant of their role which is necessary to improve their economic position . hither the scholars used the term `rational choice . Another approach which is a part of rational choice is the institutionalist approach which tries to matter the role of the institutions in improving the economic position of a country . Another approach to IPE is the neo Gramscian approach which is more radical than rational choice because this approach highlights the factors such as politics , law , culture , and knowledge which influence the economic policies . The main aim of the dominant economies is to maintain their hegemony . Woods ,. 335-336 Barry Clark Political Economy A Comparative Approach . Greenwood : Westport , 1998 There has been emergence of new approaches to IPE such as institutionalist , political economy , and neo Gramscian approaches According to institutionalists in the world economy there is cooperation between countries for their mutual benefit . The political economists believed that competition among the interest groups affect the economic policies of the state . Neo-Gramscians stress on competition between capitalistic economies which try to preserve their hegemony in the IPE Woods , 337International Political Economy was not given much importance manger the 1970s...If you want to get a full essay, order it on our website: Ordercustompaper.com

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