Power and Interdependence: World Politics In Transition

In this chapter, Keohene & Nye begin by applying the economic process model of regime change to oceans (the international regime of the sea) and money (international economic relations). This model predicts that “regimes will be established by technological and economic change, and that regimes will be established or reestablished to ensure the welfare benefits of interdependence” (131). While such a model does not provide a “sufficient explanation of any change” and may both over and under predict change, it must at the very least be considered.