An Analysis of the Dominate Perspectives of International Political Ec
In the world of international political economy, three dominant perspectives have emerged over time. The differences and similarities between the realist/mercantilist, liberalism, and historical structuralism perspectives are significant. In this essay, I will compare and contrast these dominant perspectives. First, I will give a historical account of how each perspective originated. Then I will outline the actors involved in each perspective, explore those actors ' interests, and outline which of those actors set economic and political policy. Lastly, I will explore how those political and economic actors relate to each other.
History
Among the three dominant perspectives, realist/mercantilist is the oldest and some would argue the most important and comprehensive theory . It was developed in Europe during the 15th to 18th centuries and was based on the premise that what best-supported national power and wealth was increasing exports and collecting precious metals, such as bullion . The states would then establish colonies, a merchant marine, and develop industry and mining to attain a favorable balance of trade . In order for the states to be able to fund their expansion, pay for their increasingly large armies and cover the growing costs of their government they needed to accumulate wealth. The state became more involved in the economy favoring export-oriented policies because in order to accumulate the much-needed wealth, the state needed to sell more than it bought, or export more than it imported .
Governments started to impose import duties to protect local businesses and provide a source of revenue. Production was also increasingly regulated by the state and economic treaties were struck between states. The problem was; what good was all the accumulated wealth if they cannot protect themselves from invaders? The states quickly learned that wealth and security were intrinsically related and that in order to have and keep one you must have
History
Among the three dominant perspectives, realist/mercantilist is the oldest and some would argue the most important and comprehensive theory . It was developed in Europe during the 15th to 18th centuries and was based on the premise that what best-supported national power and wealth was increasing exports and collecting precious metals, such as bullion . The states would then establish colonies, a merchant marine, and develop industry and mining to attain a favorable balance of trade . In order for the states to be able to fund their expansion, pay for their increasingly large armies and cover the growing costs of their government they needed to accumulate wealth. The state became more involved in the economy favoring export-oriented policies because in order to accumulate the much-needed wealth, the state needed to sell more than it bought, or export more than it imported .
Governments started to impose import duties to protect local businesses and provide a source of revenue. Production was also increasingly regulated by the state and economic treaties were struck between states. The problem was; what good was all the accumulated wealth if they cannot protect themselves from invaders? The states quickly learned that wealth and security were intrinsically related and that in order to have and keep one you must have
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