POLI 243 Lecture Notes - Lecture 5: Flight Feather, Market Failure, Decision-Making
22 Feb 2016
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Document Summary
The demand for international regimes (robert o. keohane) Theory of hegemonic stability: the view that concentration of power in one dominant state facilitates the development of strong regimes, and that fragmentation of power is associated with regime collapse. Two aspects of the process by which international regimes come into being: (1) Constraint-choice (rational theory) analysis emphasizes that international regimes should not be seen as quasi-governments (imperfect attempts to institutionalize centralized authority relationships in the world). Regimes are more like contracts, when these invoke actors with long-term objectives who seek to structure their relationships in stable and mutually beneficial ways. Self-help system: actors cannot call on higher authority to resolve difficulties or provide protection. Like imperfect markets, world politics is characterized by institutional deficiencies that inhibit mutually advantageous coordination. Regimes can be interpreted as devices to overcome the barriers to more efficient coordination identified by theories of market failure.
