The article envision a collaborative approach concerning the treatment in international relations of various states with the up-and-down and aspects touching such interface and collaboration among states. There maybe an intensification of distinct perspectives and thoughts but neoliberals still emphasize the presence of such being an international actor in eco-political world arena of international political economy.
The articles focal point of view is on the different factors of understanding of international relations participated into by different lone nations to be able to view how and individual nation would be able to manage communicating with other states to quench the countries lone needs and wants towards their market relations with other states. Moreover, the author desired to include the knowledge of Marxism perspective in dealing with countries and international affairs not to mention only its political attitude in the progress of political actions but also its movements in its economy inside the market place.
The attack devoted to espousal to the study of world political economy will be established through the use of three models accepted in international relations: International anarchy, establishment of international society and the international community. There is an essentiality to reducing divergence and expanding collaboration in the international system. The imminent of international community will be a focal on the international protection and international political economy which is centered on the transaction relations with collaboration and nonstate antagonism and non intrusion of inter states movements. The function of a nation is very vital and/or significant in international community because they are the pioneer actors in the international political economy.
Neoliberalism a word used to depict a diversity of actions and activities away from state manipulation or securing the economy. The word Neoliberalism is not the only one for such movement or action. It is centered upon the values of unregulated trade and markets and the expanded business horizons – brought about by globalization. Free markets, free trade, and unrestricted flow of capital will yield the utmost political, social and economic good. This shapes infinitesimal government spending, insignificant taxation, minutest regulations, and minimal direct involvement in the economy. The argument is that market forces will naturally fill many areas of jurisdiction for the highest overall gain. Critiques of Neoliberalism assert that market factors are intrinsically not justifiable. It also argues that interest of states should be disassembled or privatized. The thrust of this form of Neoliberalism as part of globalization is to utilize the world's resources: cheap labor, raw materials, markets, in the most efficient way possible, and in doing so, to make more markets open to entrance by developed nations.
According to UC Berkeley (economic historian and defender of Neoliberalism Professor Brad De Long) "The first is that close economic contact between the industrial core [of the capitalist world economy] and the developing periphery is the best way to accelerate the transfer of technology which is the sine qua non for making poor economies rich (hence all barriers to international trade should be eliminated as fast as possible). The second is that governments in general lack the capacity to run large industrial and commercial enterprises. Hence, [except] for core missions of income distribution, public-good infrastructure, administration of justice, and a few others, governments should shrink and privatize."
However, despite the numerous defendants of the Neoliberalism approach to international relations there are still some amicable criticism regarding this school of thought one of which is that it is a free-market capitalism, wherein, economic growth and technological change benefit even the poorest countries and people, even if that process is dominated by multinational corporations, rich domestic elites, and organizations such as the IMF dominated by rich countries' financiers. But then again, according to the article Neoliberalism implicitly states that Neoliberalism is a development and a development for them is a freedom. In this case we then can say that Neoliberalism is concept which became popular among economists as the balance of political power changed.
Neoliberalism is a business-conservative policy aimed at enforcing stringent budget discipline on developed and developing nations by requirements. The practice of neoliberal ideas varies widely. Some proponents see transparency, development and uniformity of regulations as the most important goals, while many others see the dismantling of state regulations, as such, as the primary purpose. Neoliberalism" is often used as a pejorative; in this context it usually means not the economic theory, but the implementation of global capitalism and the power of multinational corporations, as well as the effects of free trade on wages and social structures.
As a final remark, Neoliberals are focused more on how the world has to do what is really needed to be done. Neoliberalism locates a specific incident in the framework of a widespread model that is appropriate transversely many circumstances by scrutinizing the models of international movements through diverse evaluation of ethics, philosophy, and global understanding.
*note Thought paper for Political Economy to Prof. Severino Milo Distor*