Geoeconomics

Abstract

In the context of broad-based subjects like geopolitics or geoeconomics, basic human instincts and behaviors cannot be overlooked. The endeavor to unravel the complex idea of geoeconomics encounters the simple human urge of accumulating goods. Economics and politics go hand in hand, rather they provide cover to each other. The idea of geoeconomics replacing geopolitics as a new global force is easier to understand if the underlying phenomenon of power and control is weighed in. This phenomenon works in all possible ways to make its gains, through the political, economic, or forceful means. Like politics, economics too is moving globally and can be used to gain power over people and control over resources. Geoeconomics should be considered a form, or means of gaining political ends. Political economy is conducting economics through politics, and conversely, economic-politics or geoeconomics means conducting politics through economics. Economics is an activity that creates movement of goods, increases productivity, and brings prosperity. When it becomes a means to gain power and control upon ‘others’, in addition to these gains, it turns into geoeconomics.