@article{oai:kansaigaidai.repo.nii.ac.jp:00006188,
 author = {Campbell, Joel R.},
 journal = {研究論集, Journal of Inquiry and Research},
 month = {Sep},
 note = {研究ノート, NOTE AND DISCUSSION, This paper reviews a selection of the most influential literature on one of the most important questions at the heart of IPE: what is needed to achieve an open free trade system, and is hegemony by one major power necessary? Accordingly, what constitutes a hegemonic power, what historical arcs do hegemons follow, and how does hegemony affect economic issues such as openness, distribution, of wealth and closure in free trade systems? The paper concludes that hegemonic stability theory, while conceptually interesting, has various weaknesses that limit its explanatory power. The presence of a hegemonic power is not necessary in establishing a liberal economic regime, and a hegemonic power's economic policies do not always benefit members of the international system. The notion of hegemonic decline, especially as it applies to the U.S., is merely a recurring historical phantom that is not supported by experience. In any case, the liberal global economic system has not been threatened by the supposed decline of American power. Hegemonic stability theory places too much emphasis on the role of the nation-state generally, and major powers, specifically. Finally, much of the theory is conceptually muddled, and various viable alternatives have been put forth.},
 pages = {69--82},
 title = {The Fight for Wealth and Power : A Review of International Political Economy at Forty (Part 2)},
 volume = {90},
 year = {2009}
}