Global Trend Chapter 3 Part 2: Major Theories of International Political Economy (IPE)

Introduction to IPE Theories: Understanding the relationship between politics and economy [00:23]. Mercantilism (Nationalism): The oldest theory, focusing on strong state intervention, protectionism, and national supremacy in the economy [05:02]. Liberalism: The mainstream perspective advocating for free markets, removal of trade barriers, and the principle of comparative advantage [11:58]. Marxism: A critique of capitalism that highlights global inequality and class struggle between the rich (global north) and the poor (global south) [19:09]. Hegemonic Stability Theory: The idea that a dominant world power is necessary to maintain a stable international economic system [25:03]. Structuralism: Examining the dependency of the global south on the global north and the need for domestic industrialization [28:13]. Developmental State Approach: How states like Japan and China partner with the private sector to drive rapid economic growth [32:55]. This lesson is designed for students and anyone interested in understanding the forces that shape our global economic landscape. Don't forget to like, subscribe, and hit the notification bell for more educational content!