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PSCI 2602 Lecture.docx

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Carleton University
Political Science
PSCI 2602
Supanai Sookmark

PSCI 2602DOHAUS Federal Reserve System What is IPE Some shared assumptions among students of IPE A connection between the political and economic domains A connection between the state and the market and social forces such as Farmers A linkage between domestic and international spheres Multidisciplinary field of study Key IssuesInternational tradeInternational financeTransnational corporationsDevelopmentGenderEnvironmental sustainabilityEffects of globalization Its all about the Benjamins IPE Subject MatterHegemonic Stability End of American hegemony End of the bread and wood system Collapse of the fixed exchange system Concerns of the power of the United States in the late 1970sTransformation of global political economy Globalization Are we experiencing an even amount of globalization What about the millions and millions of people in rural areas of underdeveloped countries do they experience globalization in the same way Global GovernanceEvolution of capitalism Projection of Capitalism Contending models of capitalismEffects of CapitalismTransnational corporationsShould we trade based on a moral framework or compass BIG QuestionsHegemonic stabilityend of American hegemonyTransformation of global political economyglobalization global governanceEvolution of capitalismprojection of capitalism contending modelsHistory of the FieldRoots in classical political economy thth Mercantilist thinking 17 and 18 century th Liberal challenge in the late 18 century SmithMarx and his critiqueDecline due to academic specificationsNot Homogenious Contending theoriesapproaches American school vs British schoolsInternal competition and diversity Mainstream vs Critical IPE Imbalanced interestemphases Continental traits of classical IPEIn economics works that incorporate historical political or social dimension KeynesOutside economics radical politicalsocial theories Other kind of divisionAmerican school Shared theoretical foundation in rationalism utilitarianism as neoclassical economics Inclined toward scientific method Policyoriented studies practical solutionsBritish school Normative interpretive method Interested in effects of social structures ideas on interactions between actors Gives importance to history Our IPE3 connections Politics and economics State and market Domestic and internationalTake note of the different viewsapproaches and their biasesWhats missing Whats being underminedTry to take into consideration views of the less powerful and marginalized Understanding IPE theoriesNot mutually exclusiveVariations within each school of thoughtTheories evolve over time Characteristics of Economic NationalismMajor actors and emphases States as dominant actors realist IR National economies Goal of statespursue national interests how national interests are formed States are rational actors seeking to maximize interests neoclassical influence and powerNature of international economic relations realist IR influence Conflictual competitive a struggle for power and wealth Relative gains zerosum Most powerful states shape rules governing global political economyRelationship between politics and economicso Closely intertwined
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