A time of economic nationalism and Marxism In the book Political Economy of International Relations Gilpin states: “Although my values ​​are liberalism, the world we live in it is one of the best described by the ideas of economic nationalism and occasionally also by those of Marxism” (Gilpin, 1987). Gilpin made this statement because of the legacy of Keynesian economic ideology, the 1973 oil crisis caused by OPEC, and the presence of communism in other countries. important countries during this time period. Keynes' work: The Means to Prosperity and The General Theory of Employment, Interest and Money created modern macroeconomics and influenced countries during the 1930s and 1940s towards interventionist politics and economic nationalism (Yergin, 1998). Ideology and work led him to orchestrate the Bretton Woods conference in 1944 which “contributed greatly to the golden age of controlled capitalism (where) even the most conservative political parties in Europe and the United States embraced some version of state interventionism” (Steger, 2003.) The Bretton Woods regime fell in the early 1970s, but Keynes' economic ideology was not abandoned until the adoption of Reagan's neoliberalism and the fall of the Soviet Union to early 1990s (Steger, 2003). theory during Gilpin's lifetime and would contribute greatly to his assertion of global economic nationalism. OPEC is a clear example of economic nationalism, a conglomerate of countries that agree to control their respective economies by limiting the trade and export of oil. The 1973 oil crisis was caused by the OPEC countries imposing an embargo on the United States and several other countries after the United States supplied Israel on Yom Kippur...half of the document...submitted membership applications to the EU (Steger, 2003.) China, currently the world's second largest economy (historical data from the IMF, 2013), is also moving towards a liberal trade policy. Since the late 1980s licensed imports have been significantly reduced and total controlled exports in their economy have declined from 66% in 1991 to 8% in 1999. China's private sector has also grown and fewer people are employed in state-controlled enterprises. jobs in the manufacturing sector (Lardy, 2003). The transformation and elimination of communism in the world has almost removed Marxist ideology from the global economic perspective. Multinational corporations, international economic institutions/agreements, and the decline of communism provide evidence of how much of the world embraced economic liberalism in the late 20th and early 21st centuries.