Introduction to International Political Economy

“ Assignment I “

Class:
LB66

Lecture:
Galuh Dian Pramadewi, S.Ip., M.A

Group 6 Members :
SALMAN ANFASA PRAYOGA
2502048035
MAYANDRA FATIMA HADISUPRAPTO
2502064581
PATRICK FILIPPO MAVERIX
2502071132
DEANDRA SAPHIRA
2502078403
THORIQ ATTALLAH BERLIANO
2502066271
GAVIN DAY NICHOLAAS KUMASEH
2502048621

International Relations
Introduction
 Imperialism is understood as an attempt to dominate, hegemony, or in the most extreme form, destroy
civilization for the purposes and interests of imperialism and its empire, empire, or power. Neo-imperialism or
new imperialism is basically a continuation or the latest model of imperialist theory initiated by socialists.
Basically, when imperialism entered a new form of imperialism, one of the starting points was from the theory
of imperialism that Vladimir Ilyich Lenin was associated with the rapid development of capitalism. According
to Lenin, imperialism is the inevitable final stage in the logic of the crisis of capitalism. Imperialism is born in
every crisis of capitalism. Second, to be free from periodic crises, capitalism must open up new markets,
expand the boundaries of the nation-state, and find cheaper land, labor, and raw materials for capitalist
production. Capitalism comes from the word capital which means capital and ism which means
understanding. Capitalism according to Karl Marx is a pattern of implementation that is fundamental to the
relationship between labor and business owners or capital. The business owner has full authority over what he
has (Huda, 2016). Capitalism as an ideology of the United States which is also known as free enterprise
functions as a market to direct production and distribute income in an economic system where most of the
means of production are privately owned (Piliyanti, 2022). This ideology of capitalism is compared with
Imperialism by first developing in the mid-nineteenth century. It has Marxist and post-Marxist interpretations,
as well as anti-Marxist concepts. Capitalism has dominated the Western world since the end of mercantilism.
This was facilitated by the Reformation, which encouraged austerity and hard work, and the rise of industry
during the Industrial Revolution.

Body

Various aspects of the supporting aspects of Imperialism in the United States of America in the form of an
ideological apparatus such as; mass media, educational institutions, intellectuals, market democracy which
means a political system that favors the interests of the one-sided interests of the capitalists. All the power
they have, is ultimately used to strengthen and preserve power for the upper classes. And in the end, this is the
foundation for US imperialism. In a book written by Noam Chomsky , US Neo-Imperialism with the original
title Hegemony or Survival: America's Quest for Global Dominance, this book shows in detail various new
practices and strategies carried out by the main power of imperialism, namely the United States of America. in
order to achieve dominance over other countries (Noam Chomsky,2008). As we know, the current global
order is governed by a new imperialism model which has a big goal of dominating all sectors of the world.
The United States of course is still the main power to control imperialist projects where 50% of the world's
multinational companies are owned by the United States and Washington is still the center of world politics.
Multinational corporations and global capitalism rely heavily on the great economic powers of imperial
countries to ensure their continued operations. In addition, through the World Bank and the International
Monetary Fund (IMF), imperial powers can also manage financial crises in other countries as a tool to benefit
their own economic interests through Structural Adjustment Programs, such as privatization, nationalization,
and market liberalization, so that the path for imperial countries to expand the market is wide open.

On the other hand, while historians have well documented the idea of expansion of the United States, it is
only in recent years that the idea of a great new empire has been explored. foot. After the Cold War, due to the
many problems facing the work of globalization and the response to the terrorist attacks of September 11,
2001, the idea of empire became an increasingly powerful part of the same thought and way of the university.
word. Describing the interests of the 19th-century British and post-Augustus Romans, proponents of a neo-
imperialist America-centric world order emphasize the virtues of liberal democracy and material wealth. of
the sales process. The latter, based on what George Soros calls "market fundamentals" (including low taxes,
growing regulatory reform, and open markets for investment and trade), the world which the Washington
Consensus anticipates is, in its application, a process. of political-economic dominance in America as the
main source of power.

The role of globalization and its rationalization are the main issues at this time with this neo-imperialist
foreign. The call of the empire means political choices are linked to chaos and many failures of the project.
Writing a year before the September 11 attacks, Richard Haas (Special Assistant to member of the National
Security Council under the first President Bush, and director Policymakers at the State Department under the
second Bush) argued in its subject matter "Imperial America" and the United States should assume its role as
a sovereign power. America, according to Haas, not only has an important opportunity to "extend its control
of worldly affairs, it has the moral responsibility of 'giving' the world to its own model of "free market, human
rights and democracy, applied by the best of the world's military power.

Conclusion
Imperialism is an attempt to dominate a region that is carried out to the extreme, which destroys civilization
for the purposes and interests of power itself. Imperialism aims to instill influence in all areas of the life of the
country concerned. Imperialism is born in every crisis of capitalism. capitalism must open up new markets. A
political system that favors the one-sided interests of the capitalists is an aspect of the buffering aspect of
imperialism in the United States of America in the form of an ideological asparatus. The power they possess is
ultimately used to strengthen and sustain the power of the top class. And this, however, lies at the root of
American imperialism. Given that it owns 50% of all multinational corporations and continues to function as
the center of international politics, the United States is still the main power responsible for imperialist
programmes. Global capitalism and multinational corporations both rely heavily on the imperial regime's
powerful economies to sustain their operations. In addition, imperial powers could use the World Bank and
International Monetary Fund (IMF) to manage financial crises in other countries with the aim of advancing
their own economic interests through structural adjustment programs such as privatization, denationalization,
and market liberalization, which paved the way for imperial states. to open their market widely. 2007 went
bankrupt due to too large a loan. The government failed to regulate and supervise the financial system. There
have been several reports blaming previous years of relations in the financial industry. As a result, the
financial industry failed.

2. By 2007, several very large lenders had declared bankruptcy. It is then in the neo-imperialism view that this
problem spreads to large investors, who have poured money into these mortgage-backed securities and CDOs.
And they began to lose money from their investments. Then there are other financial instruments that financial
institutions have on their books that exacerbate all these problems - unregulated over-the-counter derivatives,
including something called credit default swaps, which are essentially sold as insurance against mortgage-
backed securities. It sold tens of millions of dollars from this insurance policy, with no money to support it
when something went wrong. In the case of such a financial crisis, no one should look too far as mistakes and
pain spread throughout the U.S. economy. The government failed to regulate and supervise the financial
system. To quote the report of the bi-partisan financial crisis inquiry commission, "the guards were not in their
posts, not least because of a widely accepted belief in the self-correcting nature of the market, and the ability
of financial institutions to effectively supervise themselves." The report blames years of deregulation in the
financial industry. And blame the regulators themselves for not doing more. The financial industry failed.
Everyone in the system borrows too much money and takes too many risks, from large financial institutions to
individual borrowers. Those institutions take on a huge debt burden to invest in risky assets. And a large
number of homeowners take out mortgages that they can't afford. But the thing to remember about this
massive systemic failure, is that it occurs in a system composed of humans, with human failures.

Reference

Comor, E. (2003). Neo-imperialism and the crisis of time. TOPIA: Canadian Journal of Cultural Studies, 10,
1-21. https://ir.lib.uwo.ca/cgi/viewcontent.cgi?article=1110&context=fimspub

Haas, Richard. 2000. Imperial America. Paper presented at the Atlanta Conference. Puerto Rico.
<http: //www.brook.edu/views/articles/haass/2000imperial.htm>

Huda, C. (2016, November 2). EKONOMI ISLAM DAN KAPITALISME (Merunut Benih Kapitalisme dalam
Ekonomi Islam) | Huda | Economica: Jurnal Ekonomi Islam. UIN WALISONGO JOURNALS. Retrieved
November 1, 2022, from https://journal.walisongo.ac.id/index.php/economica/article/view/1031

Piliyanti, I. (n.d.). Menggugat Sistem Kapitalisme | La_Riba. Journal UII. Retrieved November 1, 2022, from
https://journal.uii.ac.id/JEI/article/view/2553