Interconnectedness of Economics and International Relations

As opined by Cohen (2017), global political economy or more commonly called by the name of international political economy refers to the interdisciplinary academic branch of study which is mainly concerned with the with the analysis of international relations and economics of the world. Balaam and Dillman (2015) are of the viewpoint that different theories or models have dictated the emergence of these two concepts related to the notion of International Political Economy (IPE) like the theories related to sociology, political science, history, culture and others. Furthermore, the prominence that this branch of academic study has gained within the cannon of the contemporary educational system can in turn be explained on the basis of the fact that the concepts of economics and also international relations have become indispensible ones within contemporary world (Oatley, 2015).  

As stated by Gilpin (2016), these two concepts to a great extent determine the kind of success or growth for that matter that a particular nation of society is likely to have within the framework of the contemporary world. In this regard, it needs to be said that among the plethora of theories which have guided the course of the evolution of modern IPE the two most important ones are the Critical Race Theory and the Postcolonial Theory. This essay will analyze the evolution as well as the dynamics of the IPE through the lens of Critical Race Theory and the Postcolonial Theory.

Lairson and Skidmore (2016) have stated that the notion of international relations can be defined as the branch of study which is primarily associated with an analysis of the manner in which politics, law and economics are interconnected with each other on a global level. As opined by Cohn (2016), this can also refer to the relations like trade, commerce, business and others that one nation shares with the other nations of the world. Furthermore, it is seen that the notions of economics and international relations are to a great extent interconnected with each other since it is seen that the economic growth of a particular nation or of the world for that matter is likely to depend on the kind of international relation that the different nations of the world share with each other (Tool, 2017). IPE by offering the opportunity to the organization to undertake an analysis of the manner in which this relation works offers insights regarding the manner in which these international relations that the different nations of the world share with each other can be used in an effective manner to improve their economics (Abdelal, Blyth & Parsons, 2015). More importantly, if utilized in an effective manner then this can at the same time help in a substantial manner to make the world a better place to live in through resolution of the different disputes and conflicts between the different nations of the world.

IPE is indebted to the works of a variety of authors as well as scholars not only for the evolution of the concepts of economics and international relations but at the same time for the manner in which they are being used in the contemporary world. Lawton, Rosenau and Verdun (2018) have stated that the concept of IPE is not a nascent one and its roots can be traced back to the ancient times, more particularly in the works like Aristotle’s “The Politics” and Kautilya’s “Arthashastra”. In addition to these two words, the works of other scholars like Ibn Khaldun (1332–1406), Al-Maqrizi (d. 1442), Niccolò Machiavelli (1469–1527) and others. In this regard, Machiavelli’s “The Prince” (published in 1532), often regarded as the first book on state diplomacy is an important one to note (Neilson, Pritchard & Yeung, 2014). He says, “public security and the protection of the laws….the sinews of agriculture and of commerce” and “so that the one may not abstain from embellishing his possessions for fear of their being taken from him….not hesitate to open a new traffic for fear of taxes” are important to note (Neilson, Pritchard & Yeung, 2014). In addition to these scholars, other modern authors as well as scholars have also contributed in a substantial manner towards the development of the cannon of IPE.

Root Causes of Poverty and Inequality in Contemporary Global Politics

Delgado and Stefancic (2017) are of the viewpoint that there are various dynamics or factors which have dictated the evolution as well as the usage of the concept of IPE like competitive authoritarianism, foreign aid, strategic linkages, effective governance, institution building and others. One of the major advantages that the effective usage of the concept of international relations offers to the different nations is the fact that they help in the creation of strategic linkages between the different nations which in turn helps them to conduct trade and commerce with them (Matsuda, 2018). More importantly, this in turn offers them the opportunity to improve their economic prospects in a substantial manner. Furthermore, the effective utilization of the concept of international relations also helps the nations to avail foreign aids during times of emergency like natural or man-made disasters, economic crisis and others (Asch, 2017). In addition to these, it is also seen that the concept under discussion here also helps the different nations in the process of the governance of the concerned nations as well. For example, it is seen that one of the major problems that the different nations of the world are facing currently is terrorism and this often hinders the national governments from governing the nations in an effective manner (Ford & Airhihenbuwa, 2018). However, if a nation has effective relation with its adjoining nations then it can use the resources of its neighboring nations for the resolution of this problem. Thus, it can be said that the dynamics of the process of international relations is one of the major reasons which has contributed towards the extensive popularity that the concept under discussion here gained in the contemporary times.        

As opined by Gillborn (2015), various theories like critical race theory, postcolonial theory, Liberalism and others have not only helped in the evolution of IPE but at the same time have the concept a more relevant one within the context of the contemporary world. Howard and Navarro (2016) have stated that the major focus of the various theories which have helped in the evolution of the notion of IPE are to reduce the power struggles between the different nations or the institutions of the world and also to make the world a better place to live through the improvement of the relation among the different nations. As argued Asch (2017), the Critical Race Theory is one of the most important theories which had contributed in a substantial manner towards the evolution of the concept of IPE. Persaud and Vucetic (2018) are of the viewpoint that this can be seen as a sociological framework which analyses the manner in which the construct of race have contributed towards the current state of modern society. In this regard, it needs to be mentioned that the construct of race had dominated the human society since the traditional times and as a matter of this has contributed much towards the inequality faced by the different people of the world since the traditional times (Gillborn, 2015). More importantly, the white skinned people of world have taken the help of the façade of white supremacy to dominate the people of black and other colors of skins. The net result of this is the white people since the traditional times have formulated the kind of laws which have put them at a position of advantage and placed the people from other race and skin colors at a disadvantage (Tool, 2017).

Critical Race Theory and Evolution of International Political Economy

In the latter part of the 20^th century, particularly in the 1980s a movement began in the United Nations of America which aspired to obliterate this discrepancy in the treatment that the people from other skin colors and race had to face in the world (Cohn, 2016). In this regard, mention needs to be of scholars like Derrick Bell, Patricia Williams, Kimberlé Williams Crenshaw, Mari Matsuda and others who contributed in a substantial manner towards the development of this theory (Gilpin, 2016). As stated by Anievas, Manchanda and Shilliam (2014), critical race theory can be defined shortly as “a collection of critical stances against the existing legal order from a race-based point of view”. Thus, it can be said that the primary aim of this theory is to remove the construct of race itself and at the same offer equal kind of opportunities to all the people irrespective of the race, gender, skin color and other attributes of theirs. More importantly, the theory under discussion here has contributed in a substantial not only towards the evolution of the IPE but at the same time its development as well (Persaud & Vucetic, 2018). For example, in the earlier times it was seen that the primary focus of the IPE was on the promotion of the interests of the white skinned people and thus the laws were designed as per their convenience. However, post the articulation of this theory the scenario has changed in a substantial manner not only in the United States of America but in the other nations of the world as well and it is now seen that the notion of white supremacy has started to fade now (Howard & Navarro, 2016).

Another important theory which has helped in the evolution of IPE in a significant manner is the Postcolonial theory. Lairson and Skidmore (2016) have stated that the Postcolonial theory of international relations just like the critical race theory seeks to remedy the injustice as well as discrimination that the people had to face since the traditional times. One of the most important concepts that had dominated the world since the traditional times is the notion of “eurocentrism” (Cohn, 2016). As per this concept, the Western Enlightenment is superior to the knowledge as well as the philosophies of the other nations of the world (Tool, 2017). Furthermore, this concept has been used by the different European nations like United Kingdom, France, German and others to turn the other nations like India, USA and others into colonies and rule them for many years (Cohen, 2017). More importantly, this unethical action was justified by these nations on the basis of the construct of “white man’s burden” which stated that since the white skinned were superior to the others, it was their ethical responsibility to educate them and also to civilize (Oatley, 2015). The net result of this was the fact that these nations not only ruled the colonies but at the same time exploited the resources of those nations. Neilson, Pritchard and Yeung (2014) are of the viewpoint that this is one of the major reasons for the unequal distribution of wealth within the contemporary world. The major focus of this theory is on the reduction of this inequality of opportunity and offer similar kind of growth opportunities to everyone. Thus, it can be said that this theory had contributed in a substantial manner towards the evolution of the IPE as one of the most important academic disciplines of the contemporary times.

Postcolonial Theory and Evolution of International Political Economy

To conclude, the notions of international relations and economics both of which are related to the academic discipline of IPE have gained significant amount of prominence within the cannon of the contemporary because of the plethora or benefits that they offer. More importantly, it can be said that these two concepts are not recent innovations rather they have existed since the traditional times. Furthermore, various scholarly works from Aristotle’s The Politics to the present ones have contributed in a substantial manner towards their development as well as evolution. In this regard, it needs to be said that various theories of sociology, history, culture and others have contributed in a significant manner towards the evolution of IPE in the recent times. Two of the most important theories which have helped in the evolution as well as development of the academic discipline of IPE are Critical Race Theory and the Postcolonial Theory. More importantly, the focus of both of these theories is on the removal of injustices as well as discrimination that the different had to face within the framework of the human society since the traditional times.  

References

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Asch, A. (2017). Critical race theory, feminism, and disability: Reflections on social justice and personal identity. In Disability and Equality Law (pp. 143-176). Routledge.

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Cohn, T. H. (2016). Global political economy: Theory and practice. Routledge.

Delgado, R., & Stefancic, J. (2017). Critical race theory: An introduction. NYU Press.

Ford, C. L., & Airhihenbuwa, C. O. (2018). Commentary: Just What is Critical Race Theory and What’s it Doing in a Progressive Field like Public Health?. Ethnicity & disease, 28(Supp 1), 223-230.

Gillborn, D. (2015). Intersectionality, critical race theory, and the primacy of racism: Race, class, gender, and disability in education. Qualitative Inquiry, 21(3), 277-287.

Gilpin, R. (2016). The political economy of international relations. Princeton University Press.

Howard, T. C., & Navarro, O. (2016). Critical race theory 20 years later: Where do we go from here?. Urban Education, 51(3), 253-273.

Lairson, T. D., & Skidmore, D. (2016). International political economy: the struggle for power and wealth in a globalizing world. Taylor & Francis.

Lawton, T. C., Rosenau, J. N., & Verdun, A. C. (Eds.). (2018). Strange Power: Shaping the Parameters of International Relations and International Political Economy: Shaping the Parameters of International Relations and International Political Economy. Routledge.

Matsuda, M. J. (2018). Words that wound: Critical race theory, assaultive speech, and the first amendment. Routledge.

Neilson, J., Pritchard, B., & Yeung, H. W. C. (2014). Global value chains and global production networks in the changing international political economy: An introduction. Review of International Political Economy, 21(1), 1-8.

Oatley, T. (2015). International political economy. Routledge.

Persaud, R. B., & Vucetic, S. (2018). Race in international relations. In Race, Gender, and Culture in International Relations (pp. 35-57). Routledge.

Tool, M. (2017). The discretionary economy: A normative theory of political economy. Routledge.