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Summary International Political Economy IPC3702 - Identify and discuss the reasons why it is important to study the IPE. R50,00
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Summary International Political Economy IPC3702 - Identify and discuss the reasons why it is important to study the IPE.
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Summary International Political Economy IPC3702 - Identify and discuss the reasons why it is important to study the IPE.

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  • November 11, 2021
  • 4
  • 2018/2019
  • Summary

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Identify and discuss the reasons why it is important to
study the IPE.
Introduction:
According to SS, IPE concerns the social, political and
economic arrangements affecting the global system of
production, exchange, and the distribution and mix of
values reflected therein. Those arrangements are the
result of human decision taken in the context of mass
made institutions and sets of self-set rules and customs.
Strange’s definition gives equal weight to social, political
and economic arrangements. It stresses the role played
by certain institutions and the values that govern them.
IPE looks at the interaction or tensions between states
and markets at an international level that cannot be
satisfactorily addressed by traditional economics,
political or sociological analysis.
IPE deals with cross-national issues and actors, as it
has a political element. It also focuses on the economy.
These three concepts (international, political and
economic) are in constant and dynamic interaction in an
increasing globalised world.
Manifestations of globalisation has influenced IPE in the
sense that the various spheres of domestic, economic,
local and international politics seem to become
increasingly interdependent in a world that is fast
becoming borderless.

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