Capitalism and Democracy: The Liberal International Order

Author(s)	Dr. Manish Kumar
Country	India
Abstract	The sovereign nation-states form the basic units of the international system. The Treaty of Westphalia marked the triumph of the state where it was free to operate independently within its boundary and also enjoyed external sovereignty. Europe had been a dominant power since the onset of the modern economic growth in the eighteenth century. The changing technologies in transportation and communications ushered in an era of cross-border growth in trade, migration and flow of capital. The European International Order however came under stress by the turn of the twentieth century. The following decades saw two wars, the Great Depression and a consequent drop in international cooperation. The United States took the mantle in the immediate aftermath of the Second World War and created with the support of its Western allies the present-day liberal International Order.
Keywords	International Order, Liberalism, Capitalism, Democracy, Liberal Internationalism, Europe, America
Published In	Volume 7, Issue 6, November-December 2025
Published On	2025-11-29
DOI	https://doi.org/10.36948/ijfmr.2025.v07i06.62012
Short DOI	https://doi.org/hbdspd

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