Liberalism believes that amongst nations interacting in the anarchic system, cooperation to mutually beneficial ends is possible with economic incentives being a key part of the integrative mechanism.
In the long term, liberalists believe that it is not only possible, but within everyone's self interest to cooperate economically. At the basis of the argument is the thought that war is costly, unpredictable, and undesirable to all nations if alternatives exist. Based on the premise that nations will continue to interact with one another for extended periods of time, it falls into each nation's interest to foster economic relationships that will assist in long term cooperation [21].
Examples of organization dedicated to assisting in international economic unity include the World Trade Organization, International Monetary Fund, World Bank, and the United Nations Economic and Social Council.
Within nations themselves, liberalist thought differs on the role of government in economic decision making. Although liberalists originally believed that governments should not interfere and allow the market to remain as laissez faire as possible, current thought has adapted to include the provision that governments should provide for public support and private well being of its citizens [22].
In the long term, liberalists believe that it is not only possible, but within everyone's self interest to cooperate economically. At the basis of the argument is the thought that war is costly, unpredictable, and undesirable to all nations if alternatives exist. Based on the premise that nations will continue to interact with one another for extended periods of time, it falls into each nation's interest to foster economic relationships that will assist in long term cooperation [21].
Examples of organization dedicated to assisting in international economic unity include the World Trade Organization, International Monetary Fund, World Bank, and the United Nations Economic and Social Council.
Within nations themselves, liberalist thought differs on the role of government in economic decision making. Although liberalists originally believed that governments should not interfere and allow the market to remain as laissez faire as possible, current thought has adapted to include the provision that governments should provide for public support and private well being of its citizens [22].