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Mercantilism taught that trade was a zero-sum game, with one country's gain equivalent to a loss sustained by the trading partner. Some have argued that mercantilist policies had a positive impact on Britain, helping to transform the nation into the world's dominant trading power and a global hegemon . [ 33 ]
Oriental Despotism: A Comparative Study of Total Power is a book of political theory and comparative history by Karl August Wittfogel (1896–1988) published by Yale University Press in 1957. The book offers an explanation for the despotic governments in "Oriental" societies, where control of water was necessary for irrigation and flood-control.
Neomercantilism is considered the oldest school of thought in international political economy (IPE). [2] It is rooted in mercantilism, a preindustrial doctrine, and gained ground during the Industrial Revolution. [2] It is also considered the IPE counterpart of realism in the sense that both hold that power is central in global relations. [2]
Global politics, also known as world politics, [1] names both the discipline that studies the political and economic patterns of the world and the field that is being studied. At the centre of that field are the different processes of political globalization in relation to questions of social power.
The Gravity model of trade presents a more empirical analysis of trading patterns. The gravity model, in its basic form, predicts trade based on the distance between countries and the interaction of the countries' economic sizes. The model mimics the Newtonian law of gravity which also considers distance and physical size between two objects ...
Continentalism refers to the agreements or policies that favor the regionalization and/or cooperation between states within a continent.The term is used more often in the European and North American contexts, but the concept has been applied to other continents including Africa, Asia and South America.
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In 1776, the Continental Congress had drafted the Model Treaty, which served as a guide for U.S. foreign policy during the 1780s. The treaty sought to abolish trade barriers such as tariffs, while avoiding political or military entanglements.