Suchergebnisse

Hedge strategies became famous after the strange year of 2008 when Lehman Brothers went bankrupt and the Norwegian stock market crashed by 55%. Countries could benefit from the hedging strategies known from the financial world during an era when the American hegemony is about to end. In a polar or bipolar world where stakes are well known hedging is unnecessary, but in a multipolar world dominated from two to ten states the importance of hedging increases. A successful foreign policy hedging strategy aims at finding a low delta by reducing and managing risk, pushing decision making into the future, keeping options open and developing insurance mechanisms. L. Pitkaniemi

A theoretical discussion on the relationship between globalization and international norms and whether the economy could be reformed into a just and stable system. According to the neoliberal and structuralist rational choice theory, states try to maximize their own benefit, which in turn determines international norms. The constructivist model flags for a socially conditional rationality where these norms are based on ideas, values and cultures alone. A possible path to international institutional reform could be the United Nations whose economist and sociologists disused the market crisis as a system crisis. However, a real reform cannot take place before more powerful multinational institutions have been developed. L. Pitkaniemi