POLI 243 Lecture Notes - Lecture 3: Mercantilism, International Political Economy
15 Jan 2019
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Criticizing mercantilist practices of the late 18th century. The wealth of nations - adam smith developed by. Britain adopts classical liberal policies internally and externally in the early 19th century. Individuals preferences can be summed into societal preferences. All share an emphasis on voluntary exchange to attain mutual benefits i. Realism: power matters first; wealth is not power e. A normative tongue: what we prefer b. c. d. Voluntary exchange works well to satisfy individuals" desires. Therefore trade and open economic ties deliver material (and nonmaterial) benefits. Analytical liberalism is probably the most dominant approach in ipe. People trying to bring in domestic politics, using core classical liberalism, emphasize on prediction, descriptions. Allows us to take findings from economic point of view. But normally we stop at dominant political parties i. ii. iii. Because we don"t work through each level, each system.
