Abstract:

The hegemonic stability theory, which offers a perspective within the international political economy, tries to explain the link between the international economic structure and the international power distribution. The theory that deals with the economic consequences of political decisions is useful in the interpretation of the dynamics of today’s world economy and the associated international relations. The aim of this study is to analyze the theory of hegemonic stability and criticism against theory in the light of current developments and variables in international relations. In this context, the fundamental concepts of reference to the theorists will be detailed while discussing the validity of the theory and the effectiveness in the ability to explain the current developments. The concept of hegemony, one of the core stones of the theory, will be demonstrated in the American hegemony specimen. The general structure shows that the United States is faced with us as a power of material interest, far from the concepts of charity and spiritual satisfaction indicated by the hegemonic stability theory.

Abstract:

Hegemonic stability theory explains the link between international economic structure and power distribution in the international system from a political economy point of view. The theory construes contemporary world economy and related dynamics of international relations by evaluating the economic outcomes of political decisions. This study aims to analyze hegemonic stability theory and its criticism in the scope of current dynamics and variables in international relations. In that regard the study refers to related theoretians and elaborates the main concepts of the theory and their competence to explain current affairs. The notion of hegemon will be exemplified specific to the US hegemony. The overall structure demonstrates the fact that unlike the premise of the theory, US hegemony seeks material gains instead of benelovence or spiritual satisfaciton.

Keywords: