Further, organizations of this type seek to eliminate the prisoner's dilemma that is so commonly found when a realist lens is applied to international relations. They do so by creating opportunities for win-win engagement.
A fourth strength of neoliberal institutionalism is that it provides a framework for understanding international regimes containing rules, norms, principles, and decisionmaking procedures. It offers a unique opportunity to recognize that the diffusion of power which has occurred has not undermined the ability of any one state or any institution to create order. Neoliberal institutionalism also makes it possible to restructure our understanding of hegemonic cooperation by recognizing that powerful states seek to construct international political economies that suit their interests and their ideologies while recognizing further that a hegemon must be a leader as well as a decisionmaker.
Neoliberal institutionalism further recognizes that hegemonic actors must "search for mutual interests with their partners" and must "make some adjustments themselves in addition to demanding that others conform to their design." Nothing in neoliberal institutionalism rejects the realist assertion of the importance of hegemony in terms of bringing about international cooperation. At the same time, hegemonic cooperation bolsters the institutionalist claim that international institutions help to realize common interest in world politics.
The fifth strength of neoliberal institutionalism is that it provides for the development of a typology of cooperation problems, including coincidence, coercion, and co-adjustment. Lisa Martin argues that institutions play a vital role in furthering the cooperative agenda and that institutions play a role that states cannot play alone. Institutions, for example, provide a mechanism whereby economic sanctions against a country can be applied by a broad coalition of nations rather t...
The Strengths and Weaknesses of Neoliberal Institutionalism. (1969, December 31). In LotsofEssays.com. Retrieved 03:44, July 27, 2016, from http://www.collegetermpapers.com/viewpaper/1304291239.html