The First Question in International Political Economy

"There are a number of more general questions that can be asked about the relationship between economics and politics at the international level. It is important to make them explicit because it is impossible to make progress in any line of enquiry unless we are clear about the questions we are asking. ‘What are the important questions?’ is perhaps the most important question a social scientist can ask. Among these general questions, the following have received considerable attention from specialists in the field of International Political Economy (IPE):
• Does an open, liberal, international economic order require a
hegemon to lay down and enforce the rules? That is, does the
efficient functioning of a liberal order depend on the existence
of a state with the power, resources and willingness to perform a
leadership or ‘policing’ role? [...]"

Economides, Spyros; Wilson, Peter: The Economic Factor In International Relations, I.B. Tauris, New York, 2001.