List, writing in the 19th century, emphasized the tension between national economic self-determination and free markets. The mercantilist writings of the 17th and 18th centuries, including those of Colbert, Mun, and Hamilton, argued in favor of the state using its powers to increase its wealth. Authors of antiquity, such as Aristotle and Kautilya, explored the relationship between the political and the economic long before the term “political economy” was coined, presumably by Antoine de Montchrestien in 1613. The survey aims at a comprehensive picture of the different schools of IPE, both historically and as they have developed in the early 21st century. The term “global political economy” (GPE) later came to be used frequently to illustrate that what happens in the world is not only about interactions between states and that the GPE includes many different kinds of actors. The term “international political economy” began to draw the attention of scholars in the mid-1960s amid problems of the world economy and lagging development in the third world. The concept of international political economy (IPE) encompasses the intersection of politics and economics as goods, services, money, people, and ideas move across borders.
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