…………………The second issue pervading the subject of international political economy is the relationship between economic change and political change. What are the effects on international political relations and what problems are associated with structural changes in the global locus of economic activities, leading economic sectors, and cyclical rates of economic growth? And, vice versa, how do political factors affect the nature and consequences of structural changes in economic affair For example, one may question whether or not major economic fluctuations (business cycles) and their political effects are endogenous (internal) to the operation of the market economy, or whether economic cycles are themselves due to the impact on the economic system of exogenous (external) factors such as major wars or other political developments. It is also necessary to ask whether or not economic instabilities are the cause of profound political upheavals such as imperialist expansion, political revolution and the great wars of the past several centuries.