POLI 311 Lecture Notes - Lecture 23: American Revolution, Containerization, Asteroid Family
12 May 2018
School
Department
Course
Professor
Globalization
Embracing economic opportunities vs political backlash
Lessons form the late 19th century
• The real revolution in communication and transportation was then (not now)
o Telegraphs, steamships, containerization
• Liberal principles and norms dominated- but what happened?
o In the mid 1800s the free-market ideas spread
o Later you saw differences in reactions in some countries where there were downturns etc.
• Varied responses
• Understanding when and where aklash ours…
o You can use domestic politics to talk about the erosion of the free trade regime in the 1800s
Polanyi: the market as a "disembedding" force
• Wrote the great transformation
• Liberalism in practice was "disembedding"
o Social practice vs the market
o Where market based practices came from a conscious effort through legal practices
• You create a market for labour, land, etc.
• Markets were unleashed
o Change rules for land holdings (in UK) to make land and production economically efficient
o The Junkers are able to maintain their social status through political power
• Trade: specialization means changes
o Adjust how/what you make
o Socially disruptive practice
o In briitna this takes more time because people think that aristocrats need land dur ot their
status (even through it's inefficient)
o Liberal parties come in and transform prodctuoin from large farms to smaller competitive
farms
o Wealth is more evenly distributed
• Ease of trade adjustment varied:
o Britain, Belgium, Netherlands
• Eaist trade adjustment
• Even when there are economic downturns, free trade is maintained
• Free trade is beneficial
o France, Russia
• Interaction between what you're good at doing vs political systems
• Both are well endowed with land
• But there is a huge uneven distribution of land
• After revolution in France, the land redistribution becomes too small
▪ Uncompetitive
▪ Protectionist coalition forms
o Canada, US, Australia
• Land abundant in 1800s
• All are agricultural exporters that have high agricultural tariffs
o Germany, Sweden, Italy
• Well endowed with labour
find more resources at oneclass.com
find more resources at oneclass.com
