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Hegemonic stability theory (HST) is a theory of international relations, rooted in research from the fields of political science, economics, and history.HST indicates that the international system is more likely to remain stable when a single state is the dominant world power, or hegemon. [1]
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.
The predominance of the balance of power in the practice of statesmen for three centuries … should not obscure the fact that throughout world history periods dominated by the balance-of-power policies have not been the rule. The balance of power scarcely existed anywhere as a conscious principle of international politics before 1500… [37]
William Wohlforth argues that unipolarity is durable and peaceful because it reduces the likelihood of hegemonic rivalry (because no state is powerful enough to challenge the unipole) and it reduces the salience and stakes of balance of power politics among the major states, thus reducing the likelihood that attempts at balances of power cause ...
The European balance of power is a tenet in international relations that no single power should be allowed to achieve hegemony over a substantial part of Europe. During much of the Modern Age, the balance was achieved by having a small number of ever-changing alliances contending for power, [1] which culminated in the World Wars of the early 20th century.
In the historical writing of the 19th century, the denotation of hegemony extended to describe the predominance of one country upon other countries; and, by extension, hegemonism denoted the Great Power politics (c. 1880s – 1914) for establishing hegemony (indirect imperial rule), that then leads to a definition of imperialism (direct foreign ...
Hegemony: a state that has the power to shape the international system and "control the external behavior of all other states." [ 32 ] Hegemony can be regional or global. [ 33 ] Unlike unipolarity, which is a power preponderance within an anarchic international system of nominally equal states, hegemony assumes a hierarchy where the most ...
Monetary hegemony is an economic and political concept in which a single state has ... In Ed. Rowland, B. (1976). Balance of power or hegemony: The interwar monetary ...