Minimization of World Conflict Through Trade and Business

In today’s global economy, free trade and globalization are deeply intertwined. Globalization makes free trade possible and vice versa. It is beyond doubt that as time goes by the speed at which international integration is increasing and reduction of barriers to free trade are decreasing have gone up. While there is some resistance against the forces of globalization and free trade (McMaken, 2016), most nations have come to accept it as a reality of the modern era. This large scale acceptance is generally regarded as progress towards a world with less conflict. Arguments in favor of free trade and globalization stem from a variety of interdisciplinary sources. This paper goes into the details of some arguments for free trade and globalization, and explains why Globalization and free trade reduce the prevalence of conflicts in the international arena, and promote peace, cooperation and disarmament

The economic interdependence theory branches off of a more broad theory, the interdependence theory. In this theory, interdependence refers to the mutual dependence between countries. Mutual dependence requires countries to be highly sensitive and vulnerable to each other, where Keohane and Nye (1977) defines sensitivity as the degree to which countries are affected by the actions of others, and vulnerability as the degree to which countries can protect themselves from events that occur somewhere else that may be potentially costly. (Keohane and Nye). This theory claims that relationships between countries that are built on interdependence are costly to break and therefore interdependence causes a decrease in international conflict. Often times, liberalism is used to link interdependence theory with conflict. Liberalism explains how cooperation can develop and be continued. In this paper ...

Globalization, a fundamentally constructive revolution, is the catalyst driving the current situation. On the international level, globalization creates jobs, promotes trade, and encourages cooperation between countries. The interconnected nature of national economies creates a net that not only helps sustain troubled economies, but actually discourages international hostilities by introducing an additional layer of reciprocity. Through globalizat...

1914 marked a critical turning point in global affairs and the economy, as the destruction of the Great War not only physically affected millions of people, but it also destroyed the system of global capitalism which existed prior to 1914. During the interwar period, American isolationism from international trade and affairs left the major powers without the infrastructure or leadership to continue the international trade, investment, and currency stabilization which existed before 1914. As a result, the major powers continued their “great power rivalry,” which inhibited global cooperation and resulted in countries adopting nationalist policies to achieve their goal of stable growth and more equitable distribution of wealth (Frieden, 154). After World War Two, the United States emerged as the global leader, and influenced most of the major powers to reorganize their economic policies to promote growth and equality through multinational collaboration, global trade, currency stability, and foreign investments. In both periods, the major powers enacted economic policies to promote stable economic growth and equitable nationwide sharing of the profits from the growth; however, the outcomes were influenced by crucial differences in the levels of United States involvement, economic nationalism, and trade barriers and collaboration.

“Institutions are essential; they facilitate cooperation by building on common interests, hence maximizing the gains for all parties. Institutions provide a guaranteed framework of interactions; they suggest that there will be an expectation of future encounters. They facilitate cooperation by building on common interest, thus maximizing the gain for all parties.” (Mingst, 2011) This theory supports the idea that if one cooperates with the other they both will gain, but once the established trust is lost between the cooperating countries, one should do whatever is in their own economic i...

I’m writing my second paper on how “free trade” (not just trade) can lead to world peace. This is a pretty hefty goal to put on free trade’s shoulders but it is only an ideal. It’s what freer trade tends toward. I will break the paper down as follows:

Some economists believe that free trade is the best practical guide we have to policy and if in doubt, liberalise, even if no other government is doing the same. Whereas, In contrast proponents believe that free trade only produces efficient outcomes if other necessary conditions are in place such as near perfect competition and information. At the global level, competitio...

The Capitalist Peace has been analyzed by several popular figures such as Montesquieu, Adam Smith, Richard Cobden, Norman Angell, and Richard Rosecrance. Each of these individuals discussed that the power of the free markets hold potential for states to avoid the cycle of recurring warfare. The spirit of Capitalism supports the partnership with other states which invents rules that appeal in making war unwanted. The ability of trade and free market fulfill the human need for international competition without the need for physical force. Economic freedom produced the rising importance of commerce which has led to a profound change in the international sphere (Gartzke). Capitalist economies can produce the element of peace within at least three

International Free Trade and World Peace When analyzing trade’s effect on state behavior, it is not the mere existence of trade between countries that should be central, rather, the nature of trade that is crucial. This distinction will be explored by studying the arguments of key economic and political thinkers of both the 18th and 20th centuries. The general nature of trade, the role of national government regarding trade and security, trade's capacity to befriend belligerent nations, and finally, the influence of international economic institutions will be explored. In an attempt to present a fairly broad range of sources, this study features the ideas of four influential authors from two time periods and continents: from the 18th Century, Adam Smith and Alexander Hamilton, and from the 20th Century, John Maynard Keynes and Secretary of State Cordell Hull. My thesis is that the four authors examined actually agreed with one another on the connection between free trade and peace, despite the discordant resonance of their arguments.

Much of the political case for regional economic integration stems from national security. Another case study provided by Hill is the European Union. The nation states of Western Europe bonded together in an effort to deal with the political giants of the USSR to the east and the USA to the west. Further, regional economic integration can facilitate political harmony between nations due to their increased level of