ABSTRACT
This chapter begins with examination of the theoretical debate over the place and role of the nationstate by contrasting the two main lines of international relations theory—realism and liberal institutionalism. Kenneth N. Waltz expanded on traditional realism through the development of a theory that became known as neorealism or structural realism. Realism emphasizes the presence of anarchy in the international system and the primacy of the nationstate as the main actor in international relations. Liberal institutionalism accepts the basic premises of realism, anarchy and the importance of individual states, but then incorporates the presence of international institutions and regimes into a synthesis that more accurately reflects the current world system. For liberal institutionalists the keys to the international system are regimes and international organizations (IOs). Multilateralism in the form of IOs can also legitimize the status quo in global politics if the hegemon is willing to divert some of the decision making to the organization.
