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Mayer Snchez Marco Antonio.

This essay aims to examine, briefly, the theories that are involved in the study of
International Political Economy: Mercantilism, Liberalism and Marxism, and to
examine the role of the State in each of these theories, according to the author
Thomas Oatley.

The task of defining International Political Economy, therefore, is not easy.


For this author it refers primarily to the political battle between the winners and
losers from global economic exchange.1 Therefore, talking of political battle is
talking of the role that the State plays, what kind of policies could create in order to
improve the economics of its own nation and compete with other nations; besides
the State is at the centre of most of all political science, international political
economy is not an exception.

Mercantilism emphasizes the goals of national self-sufficiency, a favorable


balance of trade, and vitality of key industries, behind all, the promotion of the
power of the state, which should establish how the resources are distributed.
Besides the State ought to encourage an economic policy where the resources
must be channel to the economic activities that improve the national interests. In
that way having a strong national economic, a nation can survive into the
international economics.

Now talking of Liberalism, this theory defends that international trade should
be conducted by private actors, this argument is based on the thought that the
most important value by the state is the consumption of its citizens, although the
influence of the State into this theory is limited, it can help by doing rights about
possession and belongings resources, in this way it will facilitate a market-based
exchange.

Marxism talks about that capitalism and the market are the reasons that
create extremes of wealth for capitalists and poverty for workers, where the role of
the State is to support those capitalists doing policies with the purpose of making

1
Thomas Oatley, International Political Economy. Interests and institutions in the global
economy, 2nd edition, Pearson and Longman, United States, 2006, p.2.
Mayer Snchez Marco Antonio.

capitalists of having a the control of resource distribution. If we transport this idea


to international economics, we can say that richer nations will abuse of poor ones.

This is how Thomas Oatley manages the States role in the different theories
that International Political Economy implies. This way we can see what kind of
policies does the State will create, depending on which theory we are talking about
and the role itll play on it.

Reference.

Oatley, Thomas, International Political Economy. Interests and institutions in


the global economy, 2nd edition, Pearson and Longman, United States,
2006, pp. 1-16.