This book revisits the concepts of political economy in the context of a new global order, where individual security has become as important as national and global security. In the 20th century, national security was the primary concern. However, in the 21st century, food security, supply chain security, and cybersecurity have emerged as major concerns at the individual level. In the face of these challenges, market liberalization has become the main argument for the market economy, which is the basis of globalization. The market mechanism is claimed to provide the most efficient use of resources. However, during the Covid-19 pandemic, people did not have timely or adequate access to healthcare or education services, and international organizations did not function effectively. The Covid-19 pandemic has brought all of these issues back to the forefront of the agenda for people, international organizations, and governments, particularly the European Union and scholars. This book also reexamines international relations in terms of the use of biological weapons, food security, and the prevalence of solidarity among countries during the extraordinary conditions of the Covid-19 pandemic.