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POWER 50 is fifty capsules across fifty days: the whole PSIR syllabus revised once, in the order the syllabus is actually built, one topic a day. The method is plain — read the capsule, write the same day, don’t break the chain. PSIR Dynamics 2026 and the PYQ Vault run alongside it, the Vault carrying 560 previous-year questions across the fifty days, roughly eleven a day.
Day 34 — Evolution of the International Economic System
Today’s capsule holds four strands as one story: who writes the rules of the world economy, who gains from them, and how the Global South has tried to change them. It begins at Bretton Woods in 1944, with the Keynes–White contest, the three institutions, the fixed exchange-rate system and its collapse in 1971, and then follows the trade regime from GATT through the Uruguay Round to the WTO, into the Appellate Body crisis, the fisheries-subsidies deadlock and India’s fight for policy space on food security. It turns next to the CMEA, the planned counter-model that could not survive its own rigidity, and to the NIEO, where the South named the injustice of the order and pressed for structural change through the G-77, NAM and UNCTAD. Neoliberal globalisation, the 2008 crisis and the backlash that followed bring the story to the present; the capsule closes on global economic governance, the reform debate and Latin America’s partial counter-hegemonic push, with a scholar index and the power quotes on the revision board. Between 2016 and 2025, the capsule’s PYQ board carries eight questions from this unit: four 15-markers and four 20-markers.
Write before the evening:
- The return of trade barriers and economic sanctions has diminished the spirit of GATT. In this context, discuss the factors contributing to the decline of the WTO in recent times. (UPSC 2024, 15m)
- Explain the significance and importance of the demand raised by the developing countries for a New International Economic Order (NIEO). Are they likely to achieve their objectives of the NIEO in the foreseeable future? (UPSC 2020, 15m)
- Latin America has made moderate success in countering the US-led global economic order by forming various organizations emphasizing regional sovereignty, economic integration and alternative development. Discuss. (UPSC 2025, 20m)
If you go blank on a point, it is covered in full in the Foundation and OGP class notes and handouts — revise it, then write.
