Describe the liberal world order. Has it beeneffective?

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Describe the liberal world order. Has it been effective?

The liberal world order is as much an economic idea, as it is a political one. The liberal world order is very much based on the rule of law. Such things are apparent in a liberal world order such as individual liberties, private property and free trade.

According to Ludwig von Mises, a liberal world order was inseparable from liberal economic policies:

"A nation's policy forms an integral whole. Foreign policy and domestic policy are closely linked together, they condition each other. Economic nationalism is the corollary of the present-day domestic policies of government interference with business and of national planning, as free trade was the complement of domestic economic freedom."1

Thus, according to Mises, a liberal world order could only arise when governments operated a laissez-faire approach to the running of the economy. During the liberal world order at the beginning of the 20th Century, it was true to say that most of the governments of Europe were either constitutional monarchies, or democracies, and the universal concept of the rule of law was endorsed practically all over.

However the liberal world order dramatically