Exam 1: What Is International Political Economy

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There is evidence that democracy and liberal values in Europe, the United States, and Turkey are threatened. In Europe, there has been a rise in populist and nationalist movements that challenge the principles of liberal democracy, such as the rule of law, freedom of the press, and minority rights. In the United States, there has been increasing polarization and erosion of democratic norms, as well as attempts to restrict voting rights and undermine the independence of the judiciary. In Turkey, the government has cracked down on political opposition, media freedom, and civil society, leading to a significant erosion of democratic institutions.

These threats to democracy and liberal values may be overblown in some ways. For example, while there are certainly concerning trends in Europe, the United States, and Turkey, it is important to recognize that democratic institutions and liberal values are resilient and have withstood challenges in the past. Additionally, there are still strong civil society movements and political opposition in these countries that are working to defend democracy and liberal values.

International Political Economy (IPE) helps to explain this issue by highlighting the interconnectedness of global economic and political systems. For example, the rise of populist movements in Europe and the United States can be linked to economic globalization and the uneven distribution of its benefits. In Turkey, the government's crackdown on democratic institutions can be understood in the context of its economic and geopolitical interests. By examining the economic and political factors that contribute to the erosion of democracy and liberal values, IPE provides a more comprehensive understanding of this issue.