International political economy examines the ways in which political factors shape public policies and define who the winners and losers of these policies are. Within a mercantilist system, monarchical governments engaged in protectionist policies to safeguard their riches

During the absolutist era, the amount of wealth in the world was considered finite—determined by a fixed supply of precious metals—and powerful monarchs amassed wealth in gold and silver. The Enlightenment and the Industrial Revolution marked the introduction of the concept of civilization as opposed to savagery, transforming European societies and the world.

protectionist policies — restrictions on imports by means of tariff and non-tariff barriers. political factors — domestic and international components of politics and the policy-making process that result in specific public policies. absolute poverty — living conditions under which basic human necessities like food, clean drinking water, sanitation, and shelter are not met. environmental, social, and governance (ESG) — standards investors use to screen potential investments; environmental criteria describe a company’s performance as a steward of nature, social criteria report the company’s….