1.2 “Mercantilism is viewed as a significant economic theory in the history of international political economy as it has

[answerhappygod]

1.2 “Mercantilism is viewed as a significant economic theory in
the history of international political economy as it has laid the
foundation for today's nationalism and protectionism.” In light of
the above statement, highlight some of the key elements of
Mercantilism and discuss how this theory has evolved from the
sixteenth to the twentieth century. (20)
Critically discuss the Theory of Hegemonic Stability (HST) in
terms of the following statements:
3.1 “Although it may be possible to create a stable liberal
international order through cooperation but without a hegemony,
this has never happened”
3.2 “At its heart is the mercantilist insight that the economy
is embedded in a supportive political system and that states
provide order for the global economy”