Geopolitical economy

Contemporary political economic theory

Geopolitical economy is a contemporary Marxist approach to understanding the capitalist world historically. It was proposed by Radhika Desai in her Geopolitical Economy: After US Hegemony, Globalization and Empire as a critique of contemporary mainstream theories of International political economy (IPE) and International relations (IR). Geopolitical economy's critique rests on a rejection of orthodox views of the world economy as a seamless whole, united either by markets or by a single leading state, as in free market, free trade "globalization" and "hegemony" theories respectively. Instead, geopolitical economy emphasizes the interplay of political entities, namely, states, in the development of capitalism by going back to classical political economy and to the Marxist theories of imperialism, which geopolitical economy argues should be considered the first theories of international relations.

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