The Legacy of the Realist View on International Political Economy

The principal purpose of this paper is to point out the real world and theoretical developments in order to formulate and know the better understanding of International Political Economy. There are many reviews tackled and advanced regarding the various important views in international relations as supported by the study on realism by many scholars and theorists. This paper therefore views the imaginative and active aspect of relationship by different states in the world market and at the same time their interactions with each other in the course of providing a better , conflictual yet challenging ideas and entangled views about international Political Economy.

The analysis and discussion of this paper will dwell on three aspects mainly those contentions regarding the evolution of the realist view in international affairs and the world market and its contributory functions to a better relationship of the individual states in the global market of competition and interest keeping situation. Again, there will be in here the evolution of the understanding of the word globalization with its consideration on the economic aspect of international relationship of states including of which their interactions, forces and conditions of extra-mile understanding of each concerns. Furthermore, in this paper, the writer will dwell on the study of realism per se in contrast with the study of nationalism in understanding in the international arena.

The quest for a better understanding of realism is best describe in manner which contain ideas that involve the state as a primary, principal actor in international affairs, protecting its personal national interests to it. Political realism is a theory of political philosophy that attempts to explain, model, and prescribe political relations. It takes as its assumption that power is (or ought to be) the primary end of political action, whether in the domestic or international arena. In the domestic arena, the theory asserts that politicians do, or should, strive to maximize their power, whilst on the international stage, nation states are seen as the primary agents that maximize, or ought to maximize, their power. The theory is therefore to be examined as either a prescription of what ought to be the case, that is, nations and politicians ought to pursue power or their own interests, or as a description of the ruling state of affairs-that nations and politicians only pursue (and perhaps only can pursue) power or self-interest. This be the case of the understanding of realism in political manner, one would see the effect of political power in the economic are of study in international political economy. Descriptive political realism commonly holds that the international community is characterized by anarchy, since there is no overriding world government that enforces a common code of rules. Whilst this anarchy need not be chaotic, for various member states of the international community may engage in treaties or in trading patterns that generate an order of sorts, most theorists conclude that law or morality does not apply beyond the nation's boundaries.

In assessing the globalization perspective, one would also understand the realism perspective of the developments in international trade and finance, the multinational firms and corporations and the international political institutions and econo0mic institutions also. Globalization is one of the most charged issues of the day. It is everywhere in public discourse – in TV sound bites and slogans on placards, in web-sites and learned journals, in parliaments, corporate boardrooms and labor meeting halls. Extreme opponents charge it with impoverishing the world's poor, enriching the rich and devastating the environment, while fervent supporters see it as a high-speed elevator to universal peace and prosperity. What is one to think? Amazingly for so widely used a term, there does not appear to be any precise, widely-agreed definition. Indeed the breadth of meanings attached to it seems to be increasing rather than narrowing over time, taking on cultural, political and other connotations in addition to the economic. However, the most common or core sense of economic globalization – the aspect this paper concentrates on - surely refers to the observation that in recent years a quickly rising share of economic activity in the world seems to be taking place between people who live in different countries (rather than in the same country).

Another point is the understanding of globalization or economic globalization of states’ affairs and international affairs. The global political economy is concentrated more on the interaction of the market and such powerful actors as states, multinational firms and international economic organizations. Economic globalization entails different developments of different individual states in the international political economy. Moreover behind this globalization is the conflictual effect of it to the state in particular. Consider this example: imagine that there are different governments interacting with one another. Every government has their own business in their own country and will eventually have conflicts with other inside factors; also everyone is interrelated and will have conflict. To stabilize conflicts inside a state and outside their relations with other relations. The standing or head state will settle things that will be of the best to all states inside and out. Thus stabilization is attained through inside and outside relations of each state. This be the case, the simultaneous relationship of individual states is not forgotten or leave behind

On the relationship of domestic and international affairs, each state pursue its goal of economic prosperity with the action of considering the relationship of states with their domestic policies , plans, and developments and at the same time considering what it can do with the international affairs and agenda. This paper therefore point out the importance of every aspect of realism, though state centered and though anarchical is still challenge and improved for a better outcome. Thus a realism is important ideology in international political economy as a whole.

*note Thought paper for Political Economy to Prof. Severino Milo Distor*


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