The Crises of the Westphalian State and Post-Westphalian Corporatocracy

The Goal of the article is to examine the evolutionary crisis of the Westphalian state and its transformation into a Post -Westphalian corporatocracy. In the modern international political order, no longer does it completely reside in nation-states but in transnational financial and technological networks that are gaining legal and regulatory influence. The work is based on realism and neorealism theories and their statements about the role of the state in the international political system (Morgenthau, 1948) (Waltz, 1979). At the same time, it uses the theory of critical political economy, and representatives of that school of thought underline the structural characteristics of global financial power (Gill, 1995) (Strange, 1994). The work draws on qualitative research methods, such as content and comparative analyses, to examine the mechanisms by which economic power is transformed into political influence. The article represents theoretical analyses of the contours of post-Westphalian corporatocracy as a state-governing system. The results of the research show that the state retains formal legal sovereignty; however, its real autonomy is limited by the impact of global corporate and financial-technological structures.