Liberal Theory in International Relations - A Realistic Assessment of the Era of Globalization

A theory of international relations is a set of ideas that explains how the international system works. Realism and Liberal Theory are the two most important theories in the field of International Relations. They are different from each other in a number of ways. Realism focuses excessively on states and power struggle. Liberal theory, especially in the era of globalization, takes into consideration a plurality of factors such as communications technology, market economy, capital mobility, porous borders etc., to explain the nature of the international system. This paper while comparing the contest between realism and international liberalism, acquires a preferential slot in the hierarchy of international theories, attempts to highlight the flexibility, dynamism and broad–based approach of the liberal theory providing it an edge vis-a-vis realism.