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In the study of international relations, neoliberalism (or liberal institutionalism) is a school of thought which holds that international cooperation between states is feasible and sustainable, and that such cooperation can reduce conflict and competition. Neoliberalism is a revised version of liberalism. Alongside neorealism, neoliberalism is one of the two most influential contemporary approaches to international relations; the two perspectives have dominated international relations theory since the 1990s. Neoliberalism shares many assumptions as neorealism (namely, that the international system is anarchic, states are the main actors, and states rationally pursue their self-interest), but draws different conclusions from those assumptions. In contrast to neorealist scholarship which is skeptical of prospects for sustainable cooperation, neoliberalism argues that cooperation is feasible and sustainable. Neoliberals highlight the role of international institutions and regimes in facilitating cooperation between states. The main reason why international organizations facilitate cooperation is that they provide information, which reduces collective action problems among states in providing public goods and enforcing compliance. Robert Keohane's 1984 book After Hegemony used insights from the new institutional economics to argue that the international system could remain stable in the absence of a hegemon, thus rebutting hegemonic stability theory. Keohane showed that international cooperation could be sustained through repeated interactions, transparency, and monitoring.
References
- KEOHANE, Robert O. - After Hegemony: Cooperation and Discord in the World Political Economy, Princeton, 1984
- Evans, Graham. The Penguin Dictionary of International Relations. London: Penguin Books.
- Keohane, Robert and Joseph Nye (1989). Power and Interdependence: World Politics in Transition. Boston: Little, Brown and Company. p. 23. ISBN 9780316489362. https://books.google.com/books?id=RmvuAAAAMAAJ.
- Keohane, Robert and Joseph Nye (1989). Power and Interdependence: World Politics in Transition. Boston: Little, Brown and Company. pp. 23–24. ISBN 9780316489362. https://books.google.com/books?id=RmvuAAAAMAAJ.
- Waltz, 90; quoted in Richard Ned Lebow, "The long peace, the end of the cold war, and the failure of realism," International Organization, 48, 2 (Spring 1994), 273
- Norman Angell, The Great Illusion, (1909) cited from 1933 ed. (New York: G.P. Putnam’s Sons),p. 137.
- Keohane, Robert and Lisa Martin (Summer 1995). "The Promise of Institutionalist Theory". International Security 20 (1): 47. doi:10.2307/2539214. https://dx.doi.org/10.2307%2F2539214
- Robert O. Keohane and Lisa L. Martin, "The Promise of Institutionalist Theory," International Security 20, no. 1 (Summer 1995), 47.
- Mearsheimer, John (Summer 1995). "A Realist Reply". International Security 20 (1): 82–83. doi:10.2307/2539218. http://mearsheimer.uchicago.edu/pdfs/A0022.pdf. Retrieved 25 April 2013.
- Mearsheimer, 83–87.
- Mearsheimer, John (Summer 1995). "A Realist Reply". International Security 20 (1): 83. doi:10.2307/2539218. http://mearsheimer.uchicago.edu/pdfs/A0022.pdf. Retrieved 25 April 2013.
- Mearsheimer, John (Summer 1995). "A Realist Reply". International Security 20 (1): 87. doi:10.2307/2539218. http://mearsheimer.uchicago.edu/pdfs/A0022.pdf. Retrieved 25 April 2013.
