ABSTRACT
The theories and approaches to international relations in this chapter, allow us to improve our understanding of the nature of global governance and the behavior of international organizations. Realism predicts continuity in international relations and global governance. States remain the principal actors, and international organizations will serve the interests of the great powers of the day. Even though no state possesses hegemony, states, multinational corporations (MNCs), and nongovernmental organizations (NGOs) can cooperate under existing international organizations to solve global financial problems. International organizations can help states and other actors ensure that environmental costs are included in the price of goods and services, thereby affecting demand via the price mechanism. Constructivist approach focuses on how the world as we know it is socially constructed. Global governance in 2050 is what states, decision makers, and international organizations make of it. The ideas, beliefs, and identities of the individuals and states matter in understanding the nature of global governance.
