Hegemonic Stability Theory: The Rise and Fall of the US-Leadership in World Economic Relations

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Hegemonic Stability Theory is explored in the context of international political economy, particularly its relevance and application in the latter half of the 20th century. The paper discusses the dynamics of global power structures and their impact on international relations, emphasizing the role of a dominant state in maintaining stability. It critically analyzes theoretical frameworks and implications for understanding economic and political interactions on a global scale, drawing on historical examples to illustrate key concepts.