The paper "International Political Economy" is a wonderful example of an assignment on macro and microeconomics. The statement by President Woodrow Wilson that the state exists for the sake of the society and not that the society exists for the sake of the state is more accurate than the other statement that was made by Margaret Thatcher. The basic idea behind these statements is related to the manner in which governments and the people who elect those governments, which means the society, interact with each other. The basic question is whether the government can be regarded as superior to the society in which it exists or whether society can be regarded as being superior to the government.
So, from the statement by Woodrow Wilson, it is said that the government exists for the sake of society and not the other way round. On the other hand, Thatcher said that a thing like society does not exist at all. The statement by Wilson is more accurate because of several reasons. First of all, it shows that the government is part of the larger society.
Governments do not exist by themselves; they are actually examples of the institutions that form the broader society. Therefore, since the government is part of the society, it can only be said that it exists to serve the society that it is part of. Secondly, the government is usually formed by members of society. Under the democratic practice, the government is formed by elected members of the society. The society elects leaders through a democratic process and mandates them with specific responsibilities and duties. It is up to the government to serve its electorate or society by using the resources that have been made available to it to provide specific services to the society.
Therefore, society uses the government as an instrument of fulfilling specific duties and responsibilities. International Political Economy (IPE) concerns itself with the intersection of markets and politics. Critically assess the argument that economic globalization is a political project rather than a market-driven project. On one hand, economic globalization can be seen as a market-driven project. What this means, in general, is that globalization can be seen as a process that is driven by forces that are related to markets.
For example, the process of economic globalization can be seen as a response to the emergence of new markets for products and services.