Document Type : Research Paper
The hegemonic stability theory as a branch of realism in the international relations entails a hegemony leadership for regular and stability of international liberal economy. The hegemony state, in one side, enjoys the greatest and the strength economic capabilities (besides military strength and ideological influence) and the other side, lively promotes the liberal economy in the international sphere. According to the theory, while the international relations field is an area of competition, and for struggle for power among nations ( nation-states, and also the power the relative phenomena, so the free flow of liberal economy is deal with power equivalence and the hidden hand is inadequate. The appreciate distribution of power is the hegemonic stability so that the hegemony state is enforcing the liberal economy regulation with the consent of the weaker states especially the secondary powers. The theory appeared two times in the history of international political economy: second half of 19 century under the Britain hegemony and after Second World War under U.S. hegemony. The U.S. hegemony was challenged by terminated the fixed foreign exchange rate of the Breton – Woods in the late of 1960s. The United States of America was started the new phrase of reinforcing it's hegemony after cold war and emerging the new international political atmosphere. So this article pays more attention to this new phrase.