Research Article

The Political Economy of Pandemics’ Influence On Hegemonic Shifts: A Comparison of the Influenza of 1918 and COVID-19

Volume: 8 Number: 1 April 30, 2024
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The Political Economy of Pandemics’ Influence On Hegemonic Shifts: A Comparison of the Influenza of 1918 and COVID-19

Abstract

Following the World Health Organization (WHO)'s declaration of ending the public health emergency of international concern (PHEIC) for the COVID-19 pandemic in May 2023, this study seizes the opportune moment to analyze it alongside its historical precedent, the Influenza of 1918, commonly known as the Spanish flu. Amid the ongoing US-China rivalry for global leadership, the COVID-19 pandemic broke out when a century had elapsed since the Influenza of 1918. This analysis aims to test the hegemonic cycles approach of the World Systems Theory and to contribute to the literature of international political economy. The hegemonic cycles approach of the World Systems Theory calls for an analysis of the figures of industrial production, international trade, and finance to judge the changes within the international economy as a hegemonic shift, which occurs at 100-150 years in a circular nature. This study furthermore adds up the figures of GDP per capita to the analysis to provide insight into the level of welfare offered by the ascending hegemons to their citizens vis-à-vis the descending ones. Thus, changes in GDP per capita, industrial production, foreign trade, and finances of the UK vs. the US during the Influenza of 1918, and the US vs. China during COVID-19 provide insights into the political economy of pandemics in terms of their impact on changing hegemonic orders. The findings reveal that both pandemics triggered a period of hegemonic shift that was preeminent on economic terms within the international order.

Keywords

References

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Details

Primary Language

English

Subjects

Comparative Economic Systems, Growth, Development Economics - Macro, Cyclical Fluctuations, Public Administration

Journal Section

Research Article

Publication Date

April 30, 2024

Submission Date

February 5, 2024

Acceptance Date

April 17, 2024

Published in Issue

Year 2024 Volume: 8 Number: 1

APA
Sarica Kelle, S. (2024). The Political Economy of Pandemics’ Influence On Hegemonic Shifts: A Comparison of the Influenza of 1918 and COVID-19. Uluslararası Ekonomi İşletme Ve Politika Dergisi, 8(1), 185-204. https://doi.org/10.29216/ueip.1431935
AMA
1.Sarica Kelle S. The Political Economy of Pandemics’ Influence On Hegemonic Shifts: A Comparison of the Influenza of 1918 and COVID-19. UEİP. 2024;8(1):185-204. doi:10.29216/ueip.1431935
Chicago
Sarica Kelle, Seyhan. 2024. “The Political Economy of Pandemics’ Influence On Hegemonic Shifts: A Comparison of the Influenza of 1918 and COVID-19”. Uluslararası Ekonomi İşletme Ve Politika Dergisi 8 (1): 185-204. https://doi.org/10.29216/ueip.1431935.
EndNote
Sarica Kelle S (April 1, 2024) The Political Economy of Pandemics’ Influence On Hegemonic Shifts: A Comparison of the Influenza of 1918 and COVID-19. Uluslararası Ekonomi İşletme ve Politika Dergisi 8 1 185–204.
IEEE
[1]S. Sarica Kelle, “The Political Economy of Pandemics’ Influence On Hegemonic Shifts: A Comparison of the Influenza of 1918 and COVID-19”, UEİP, vol. 8, no. 1, pp. 185–204, Apr. 2024, doi: 10.29216/ueip.1431935.
ISNAD
Sarica Kelle, Seyhan. “The Political Economy of Pandemics’ Influence On Hegemonic Shifts: A Comparison of the Influenza of 1918 and COVID-19”. Uluslararası Ekonomi İşletme ve Politika Dergisi 8/1 (April 1, 2024): 185-204. https://doi.org/10.29216/ueip.1431935.
JAMA
1.Sarica Kelle S. The Political Economy of Pandemics’ Influence On Hegemonic Shifts: A Comparison of the Influenza of 1918 and COVID-19. UEİP. 2024;8:185–204.
MLA
Sarica Kelle, Seyhan. “The Political Economy of Pandemics’ Influence On Hegemonic Shifts: A Comparison of the Influenza of 1918 and COVID-19”. Uluslararası Ekonomi İşletme Ve Politika Dergisi, vol. 8, no. 1, Apr. 2024, pp. 185-04, doi:10.29216/ueip.1431935.
Vancouver
1.Seyhan Sarica Kelle. The Political Economy of Pandemics’ Influence On Hegemonic Shifts: A Comparison of the Influenza of 1918 and COVID-19. UEİP. 2024 Apr. 1;8(1):185-204. doi:10.29216/ueip.1431935

Cited By

International Journal of Economics, Business and Politics

Recep Tayyip Erdogan University
Faculty of Economics and Administrative Sciences

Department of Economics

RIZE / TÜRKİYE