Theory of Hegemonic (in) Stability

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