Realism-history of globalization

Realism-history of globalization - Realism: Views economic...

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Realism: Views economic integration in terms of Hegemonic Stability Theory. Economic integration is linked to the distribution of power – in multipolar systems, integration will be weakest, stronger in bipolar systems (where “half-world” economies are created), and most robust in a unipolar system. For realists, economics is a zero-sum game. A hegemon will support economic integration because it gains the most from such a system. The hegemon is the most powerful state in the system, in terms of hard power. It is also the most economic and technologically advanced, able to export goods that are in high demand in the international economy. Again, economic power and technology are viewed in zero-sum terms. The hegemon provides 4 public goods to the system – these are goods that are indivisible – if one state enjoys them, all states do. Kindleberger argues that within the international economy, it is difficult to address public goods problems. This is a reflection of the collective action problem – when some public good needs to be achieved, it is unlikely that individuals will cooperate in order to achieve it, due to the fact that no one wants to pay a higher cost than anyone else. For K, what is required is leadership in this situation – one individual must make the effort to seek to provide the public good. This is why
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Realism-history of globalization - Realism: Views economic...

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