6
the main components of maintaining hegemony, are of great importance, even if
they are not intended to be based on the US interests directly, especially when it
encompasses its rivals’ interests. In the current international system, energy as a
geospace axis contributes to determining security and creates regional and international conflicts, and achieving energy security is essential for the continuation of
development and the improvement of industrialization and social welfare. The focus
of energy in geo-economics has led many governments and non-state actors to
define energy security based on their own interests and attitudes. Therefore, the
existing differences affect the interactions between different types of actors and
affect energy security at the regional and global levels. Hence, recognizing energy
security requires the identification of the most important trends in the new geoeconomy of energy in the world (Zibakalam and Arabameri 2014:180).
The international political economy focuses on the interpretation of structural
realism and its attention on the nation-state system and the role of political relations
in the organization of the global economy. On this basis, it proceeds to assume that
all governments are pursuing their national interests, and the only intermediary in
international politics is the level of strength and capabilities of governments. Thus,
how power is distributed internationally is a major feature of the international political economy (Gilpin 2001:27).
Structural realism theorists have always emphasized the capabilities, capacities,
and power of a hegemonic government to influence other states and believe that the
hegemonic government has many capacities and the ability to attract or coerce other
governments. Favorable states accept the superiority of the privileges granted by the
hegemonic government to enter the international finance industry based on free
trade or are hostile to the hegemony of the state and enjoy the privileges of cooperating with governments which have no hegemony (Gilpin 2001:32).
While World War II had a negative impact on industrial economies, the US interestingly seemed less impacted as it came out of the war as the strongest economic
and military power in the international arena. However, this situation, leading to the
dominating American leadership, was not normal as the unrivaled US economy was
strictly linked to the destruction of other economies during the war period. Hence,
when these weakened economies were to start reviving, the economy of the US
would begin to experience a decline in the 1980s. The members of the American
society, who had unrealistic and extremely high economic expectations caused by
the unnatural economic situation of the US in the aftermath of the war, experienced
great difficulties in adjusting to the declining power of the US in areas of economy
and military. Moreover, the unnatural economic situation of the US encouraged it to
make international commitments, which, in the long term, were quite beyond its
capabilities. This situation caused its allies to withdraw their support to the preservation of economic and political stability (Gilpin 1987:343).
After World War II had ended, based on its economic and political motives, the
US was committed to reviving the liberal international economy. Hence, the US
made political and security agreements with its primary allies, namely West European
countries and Japan, in order to establish a political framework where the liberal
world market economy could function more smoothly. To ensure a conflict- free
1 Theoretical Framework
the main components of maintaining hegemony, are of great importance, even if
they are not intended to be based on the US interests directly, especially when it
encompasses its rivals’ interests. In the current international system, energy as a
geospace axis contributes to determining security and creates regional and international conflicts, and achieving energy security is essential for the continuation of
development and the improvement of industrialization and social welfare. The focus
of energy in geo-economics has led many governments and non-state actors to
define energy security based on their own interests and attitudes. Therefore, the
existing differences affect the interactions between different types of actors and
affect energy security at the regional and global levels. Hence, recognizing energy
security requires the identification of the most important trends in the new geoeconomy of energy in the world (Zibakalam and Arabameri 2014:180).
The international political economy focuses on the interpretation of structural
realism and its attention on the nation-state system and the role of political relations
in the organization of the global economy. On this basis, it proceeds to assume that
all governments are pursuing their national interests, and the only intermediary in
international politics is the level of strength and capabilities of governments. Thus,
how power is distributed internationally is a major feature of the international political economy (Gilpin 2001:27).
Structural realism theorists have always emphasized the capabilities, capacities,
and power of a hegemonic government to influence other states and believe that the
hegemonic government has many capacities and the ability to attract or coerce other
governments. Favorable states accept the superiority of the privileges granted by the
hegemonic government to enter the international finance industry based on free
trade or are hostile to the hegemony of the state and enjoy the privileges of cooperating with governments which have no hegemony (Gilpin 2001:32).
While World War II had a negative impact on industrial economies, the US interestingly seemed less impacted as it came out of the war as the strongest economic
and military power in the international arena. However, this situation, leading to the
dominating American leadership, was not normal as the unrivaled US economy was
strictly linked to the destruction of other economies during the war period. Hence,
when these weakened economies were to start reviving, the economy of the US
would begin to experience a decline in the 1980s. The members of the American
society, who had unrealistic and extremely high economic expectations caused by
the unnatural economic situation of the US in the aftermath of the war, experienced
great difficulties in adjusting to the declining power of the US in areas of economy
and military. Moreover, the unnatural economic situation of the US encouraged it to
make international commitments, which, in the long term, were quite beyond its
capabilities. This situation caused its allies to withdraw their support to the preservation of economic and political stability (Gilpin 1987:343).
After World War II had ended, based on its economic and political motives, the
US was committed to reviving the liberal international economy. Hence, the US
made political and security agreements with its primary allies, namely West European
countries and Japan, in order to establish a political framework where the liberal
world market economy could function more smoothly. To ensure a conflict- free
1 Theoretical Framework