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The balance of power theory is a core tenet of both classical and neorealist theory and seeks to explain alliance formation. Due to the neorealist idea of anarchism as a result of the international system, states must ensure their survival through maintaining or increasing their power in a self-help world.
The balance of threat theory modified realism (as well as the neorealism of Kenneth Waltz) by separating power from threat. In the balance of power theory, which had previously dominated realist analyses, states balance against others whose power (military capabilities) was rising. Greater power was assumed to reflect offensive intentions.
In international relations, the concept of balancing derives from the balance of power theory, the most influential theory from the realist school of thought, which assumes that a formation of hegemony in a multistate system is unattainable since hegemony is perceived as a threat by other states, causing them to engage in balancing against a potential hegemon.
However, as is evidenced from the inherent U.S. unipolarity which has marked the 21st century, and failures of triangular diplomacy to substantiate such a peace, scholars Wohlforth, Little and Kaufman argue that these facets evidence the failures of the balance of power theory to correlate within the contemporary international environment. [30]
Walt developed the balance of threat theory, which defined threats in terms of aggregate power, geographic proximity, offensive power, and aggressive intentions. It is a modification of the "balance of power" theory, whose framework was refined by neorealist Kenneth Waltz. [39]
The balance of power is a key analytical tool used by realist theory. [33] There are two key aspects to the balance of power in classical realism: [ 34 ] Firstly, a balance of power is understood to be an unintentional result of great power competition which occurs due to a constant pursuit of power by multiple states to dominate others leading ...
Waltz argued that balances of power recurrently form whether or not states intend that result. [92] Waltz criticized Morgenthau for seeing the maintenance of a balance of power as dependent on states' motives and conscious aims, leading to what Waltz called a "distortion" of balance-of-power theory. [93]
His primary teaching and research interests include international security and international relations theory, and he is perhaps best known for his Balance of Interests theory, a revision to Kenneth Waltz's Balance of Power theory and Stephen Walt's Balance of Threat theory.