KÜRESEL POLİTİK EKONOMİ

In the classical period, economics and politics were not divided at all as separate disciplines. During the classical time, the intersection of economy and politics was the ‘political economy’ and it was quite interdisciplinary and open to even other disciplines as well. For example, Adam Smith, who is often considered to be the father of the modern economy, was both a philosopher and an economist.

Retrospectively speaking, state and market or economy and politics were, however, not so separated from each other for a very long time. In this sense, the historical evolution of IPE can be classified into three sub-periods, under which general approaches to the discipline shifted fundamentally:

classical period;

the long negligence period;

     3. the rise of IPE.

In the classical period, economics and politics were not divided at all as separate disciplines. During the classical time, the intersection of economy and politics was the ‘political economy’ and it was quite interdisciplinary and open to even other disciplines as well.

Variant of IPE Theories
Classical Approaches in International Political Economy

Physiocrats •

Mercantilism •

Economic Nationalism •

Liberalism- Neo Liberalism •

Marxism

Emerging approaches in International Political Economy

Physiocrats were the proponents of the new ideas of economic freedom in France. The term came from the ancient Greek word, “physiocracy,” meaning “rule by nature.” They also liked to call themselves the economists (Ebeling, 2016). During the time of physiocrats’ rein, France was trembled by the economic and social disorder, which eventually lead to French Revolution in the later phases. In such circumstances, physiocracy was a reaction to both industrial revolution and mercantilism. Physiocrats were striving for return to pre-industrial era (Beer, 2014, 13) and were interested in reforming France. Their reform program consisted of advancing several political reforms to remove all existing tariffs, taxes, subsidies, restrictions and regulations and to introduce a single nationwide tax on agriculture.

Bullionism was the earliest phase of mercantilism, and it was derived from the experience of an acute shortage of gold and silver bullion in Europe in the fifteenth and the sixteenth centuries. Bullionist policies were designed to attract a flow of gold and silver into a country to service the rapidly expanding volume of trade and to keep them there by prohibiting their export. These restrictions lasted from the late Middle Ages into the sixteenth and seventeenth centuries

Thomas Mun (1571-1641) was the most influential mercantilist writer and his book “England’s Treasure by Foreign Trade” was one of the most significant mercantilist texts. Mun believed that other than trade there were no alternative to make a country wealthy and powerful. The very title of his book in this sense very much revealing his belief in trade.

Developmental State

The concept of the developmental state is used to refer to the phenomenon of the rapid growth of several countries in East Asia in the late twentieth century. These so called ‘Asian Tigers’ relied on state-led macroeconomic planning and extensive regulation. Chalmers Johnson, who pioneered the term for the first time, defined the capitalist developmental state as a state that is focused on economic development and takes necessary policy measures to accomplish that objective.

Liberals basically argue that there is no need for state to bring together buyer and seller, set prices and quantities, or spur investment and production.

Moravcsik’s neoliberal account looks at domestic policy making and preferences (societal inputs) as an important factor affecting international political and economic decision making.

Critical Theory vs Problem Solving Theories Robert Cox argued that “theory is always for someone and for some purpose.” According to him, there can be found two categories of theories in international relations: i) critical theories; ii) problem solving theories. Main differences between these two types is that while critical theories aim at changing the established order for good by showing other possible alternatives, the problem solving theories mainly tries to legitimize the established order by finding the solutions to problems. In his own word “Problem-solving takes the world as it finds it, with the prevailing social and power relationships and the institutions into which they are organised, as the given framework for action. The general aim of problem-solving is to make these relationships and institutions work smoothly by dealing effectively with particular sources of trouble. Critical theory in contrast does not take institutions and social and power relations for granted but calls them into question by concerning itself with their origins and how and whether they might be in the process of changing. ... Critical theory is directed to the social and political complex as a whole rather than to the separate parts” (Cox, 1981).

The correct choice is D.

The correct choice is C.

The correct choice is E.

The correct choice is B.

The correct choice is B.

The correct choice is D.

The correct choice is A.

The correct choice is C.

The correct choice is A.

The correct choice is B.