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Home > School of Law > Law School Journals > ILJ > Vol. 7 > Iss. 2 (2006)

 

San Diego International Law Journal

Authors

Carole A. Scott

Library of Congress Authority File

http://id.loc.gov/authorities/names/n79122466

Document Type

Article

Abstract

Money talks. Money changes everything. There is nothing money cannot buy. These are all familiar phrases used to describe the desirable, and undesirable, effects of money. Money can also mean power, and more specifically, economic power. Indeed, economic power is becoming an increasingly important concept for a wide range of academic disciplines. For example, the concept of economic power has heavily influenced a new theory of international relations, namely globalization. Many globalization theorists argue that economic power is replacing military power in global politics. Other scholars contend that globalization is creating a new world order where economics are the central focus. Economic power not only shapes international relations, but it also influences national employment laws and policies. For example, economic power can be measured by comparing a country's employment and unemployment rates. Generally speaking, if a country's economy is strong, the employment rate rises and the unemployment rate falls. Conversely, if an economy is faltering, the employment rate falls and the unemployment rate rises.

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