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Political Science
POLI 243
Mark Brawley

POLI 243 January 14 2013 1142013 64600 AMMarx and Marxism Labour theory of valueo All value created by labourClasses are the actors in politics and economicso Capitalists and workers o Former oppress latter o Capitalists get surplus value produced by workers profit o Profit is seen from a liberal point of view as having been created by the capitalist for having brought the necessary resources together Smith on the market says things are only worth as much as people are willing to pay for them Different from liberalism and realismo Power is the story and economics is the outcome while with Marxism economics is the story and politicspower is the outcome Marx trying to identify contradictions in capitalismo Enter the dialectic capitalism will destroy itself when the contradictions pile upo Build up of capital compared to labouro Reserve army of labour supposed to use market to find work have been replaced by capitalo People cant not work when the market is bad theyll dieo Crisis of overproductionunderconsumptiono Search for new bigger markets o Railroads etc help create nationalinternational marketso Prices on commodities drop drasticallyo Expected capitalists to start making less they did in the 1870so Expected to see rise in class consciousness among workerso Ingredients for classsocialist revolution Class consciousnessUnemployed etco Kondratieff waves prices go through cycles eg grain was sent to Siberia and never heard form againo British bankers take money out of Britain and invest it around the world capital leaving country in huge amountso Imperialism falling in early nineteenth century but resurgent in late nineteenth centuryo The need for capital to move and grow produces imperialismo Lenin links imperialism to the economic crisis imperialism can only go on so long before you run out of land then war will break out between imperialist powerso Capitalists competing against each other internationallyo Welfare state starts to grow out of need to relieve pressures created by capitalism number crunching 1878 Bismarck Yes Whats important is nationalism not these class consciousnesses Germanness he doesnt want class consciousness o Laws in Germany to promote collusion and high tariff barriersoJanuary 16 2013 1142013 64600 AMInternational political economy reemerges 1960s international politics and economics were distinctseparateThe international economy appeared to function well in the 1950s and 1960s Then the Bretton Woods Monetary Regime collapsed in the early 1970s This is when old ideas get blown uplose efficacyThe international economy became more anarchic states determined their own policy and damn the torpedoes Changes in the international monetary regime signaled changes in other areasOPEC oil embargo underscored the politicization of international economy Pre1970s economicswealth politicspower International regimes Rules norms principles and decision making procedures around which actors expectations can converge o Examples the World Trade Organization Bretton Woods or the gold standard Where do they international regimes come from o Realist interpretation Can come from anyone but more often than not they come from the United States the hegemon which proposes policiesinstitutions that are in its national Why do some persist while others evolve or even failo Some regimes survived the US decline in power while others did not Explaining the emergence and evolution of regimes Realists hegemonic stability theoryo US is hegemon US as hegemon maintains stability internationallyo Examples from the 1970s o but outcomes in the 1980s did not follow expectations
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