International political economy in the context of "International economics"

Global politics, also known as world politics, 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 discipline studies the relationships between cities, nation-states, shell-states, multinational corporations, non-governmental organizations and international organizations. Current areas of discussion include national and ethnic conflict regulation, democracy and the politics of national self-determination, globalization and its relationship to democracy, conflict and peace studies, comparative politics, political economy, and the international political economy of the environment. One important area of global politics is contestation in the global political sphere over legitimacy.

Susan Strange (9 June 1923 – 25 October 1998) was a British political economist, author, and journalist who was "almost single-handedly responsible for creating international political economy." Notable publications include Sterling and British Policy (1971), Casino Capitalism (1986), States and Markets (1988), The Retreat of the State (1996), and Mad Money (1998).

She helped create the British International Studies Association. She was the first woman to hold the Montague Burton Professor of International Relations at the London School of Economics and was the first female academic to have a professorship named after her at the LSE.

Robert Owen Keohane (born October 3, 1941) is an American political scientist working in the fields of international relations and international political economy. Following the publication of his influential book After Hegemony (1984), he has become widely associated with the theory of neoliberal institutionalism in international relations, as well as transnational relations and world politics in international relations in the 1970s.

He is Professor Emeritus of International Affairs at the Princeton School of Public and International Affairs, and has also taught at Swarthmore College, Duke University, Harvard University and Stanford University. A 2011 survey of International Relations scholars placed Keohane second in terms of influence and quality of scholarship in the last twenty years. According to the Open Syllabus Project, Keohane is the most frequently cited author on college syllabi for political science courses.

Complex interdependence in international relations and international political economy is a concept put forth by Robert Keohane and Joseph Nye in the 1970s to describe the emerging nature of the global political economy. The concept entails that relations between states are becoming increasingly deep and complex. These increasingly complex webs of economic interdependence undermine state power and elevate the influence of transnational non-state actors. These complex relationships can be explored through both the liberal and realism lenses and can later explain the debate of power from complex interdependence.

In microeconomics, management and international political economy, vertical integration, also referred to as vertical consolidation, is an arrangement in which the supply chain of a company is integrated and owned by that company. Usually each member of the supply chain produces a different product or (market-specific) service, and the products combine to satisfy a common need. It contrasts with horizontal integration, wherein a company produces several items that are related to one another. Vertical integration has also described management styles that bring large portions of the supply chain not only under a common ownership but also into one corporation (as in the 1920s when the Ford River Rouge complex began making much of its own steel rather than buying it from suppliers).

Vertical integration can be desirable because it secures supplies needed by the firm to produce its product and the market needed to sell the product, but it can become undesirable when a firm's actions become anti-competitive and impede free competition in an open marketplace. Vertical integration is one method of avoiding the hold-up problem. A monopoly produced through vertical integration is called a vertical monopoly: vertical in a supply chain measures a firm's distance from the final consumers; for example, a firm that sells directly to the consumers has a vertical position of 0, a firm that supplies to this firm has a vertical position of 1, and so on.