Class Notes (838,386)
Canada (510,872)
SOCI 265 (51)
Lecture

265 - Week 11 – Lecture 1 – the Hegemon.docx

3 Pages
78 Views
Unlock Document

Department
Sociology (Arts)
Course
SOCI 265
Professor
John Anthony Hall
Semester
Fall

Description
Week 11 – Lecture 1 – 11/11/2013 Sociology 265 – War, States and Social Change The Hegemon (the USA) Last section of the course – state of the world’s political economy now, esp. re. war and peace HST = 1 liberal state provides rules: pax Americana = people say that this follows a pax Britannica - 1 other thing re. the theory = says that ‘hell is other▯pdecline is other people = argument of Kindelberger and Gilpin brings no rewards o spend more money on defence than others = too many people in defence rather than domestic industries  driven to decline by putting top intellectual talent in defence industries rather than hight-tech developing industries and too much money in weapons 1945 – the USAjoined both WW’s late  advantage: it was not exhausted by war = only WW2 that revives theAmerican economy as it becomes infinitely larger with complete use of resources which means that Keynesian economics can apply - no internal destruction of the continental ▯Si.e. not Germany or Belgium o USAemerges with 50% of total world product in 1945 (measuring product is difficult: what measures GDP is highly arbitrary) and in 1945 it is an enormous industrial power  It exerts its power in 1945 in a brutal capacity = e.g. in New Hampshire with the creation of a world monetary system w. Keynes vs. Harry Dexter White (Soviet spy!) • Keynes makes a fool of himself since he has no power = ‘they’ve got all the money, we’ve got all the brains’but in actuality he was totally outmanouevered  World Monetary System = based on the dollar with the pure system w. the dollar backed by gold only lasted for a few decades but means that all currency • Means that the US has lower interest rates and all world commodities are done in dollars o In moments of crisis, one can print currency since they are the world’s central bank (French call it the world exorbitant privilege) - Concessions = takes power away from Britain but before this can truly happen the Cold War occurs  let there be embedded liberalism because they want European allies o Inevitable that some ofAmerica’s strength will wane because of war destruction to Germany and Russia etc. but it obvs remains powerful 1986 – Paul Kennedy: ‘the Rise and Decline of Great Powers’=America is bound to decline in the way that Britain declined - key changes post-1945: 1971 – Nixon and his Treasury Secretary, they take the USAoff gold o the dollar is now a floating currency = a sign of change; slightAmerican weakness perhaps?  Occurs because, in the late 1960s, the USAdeals with the War in Vietnam (expensive – the Korean War before it) as well as LBJ’s series of social programmes based on civil rights e.g. Medicaid, Great Society Programme, model cities etc. • The USAstarted to borrow money in large sums (printing money (caused great post-war inflation causing Europeans to soak the extra treasury bonds in exchange for weapons; alongside direct borrowing from Germany as LBJ asks in 1965 at below market interest rates whilst he demands that American troop in Germany are paid for by Germans – then Saudi Arabia and eventually China do this) because – as is theAmerican way! – it was not prepared to tax itself to pay for both at the same time o At the same time, Kennedy pointed out that the americnan model of industrial production e.g. Ford w. assembly lines was seen to be in decline – e.g. Ezra Vogel: ‘Japan as Number 1’– higher standards of production, lean production, more specific to customers etc. - proved to be UNTRUE THOUGH!! o 1 - The USAwas never in the same position that Britain was = the fundamental thing is that Britain was never truly a hegemon; it never could control the other 4 great states on the continent as it was 1 power amongst others  The USAin 1945 truly controlled the world monetary system = its voice in the IMF and World Bank is dominant because of the shares it had purchased  Had nuclear weapons = enormous power w. no capitalist rivals  NATO = British want theAmericans in; need 2 Germany’s, keep America in and keep the Russians out = Europeans desired an American commander of NATO = clear sense that America was dominated and providing defence o Problems Britain faced in l19thC = entirely differnet  Faced Germany which was fantastically powerful whislt they were good at fighting  1913 – Germany had the largest European economy (economic and geopolitical rival at the same time – the USAnever really had that) • USAhad Russia – geopolitical competitor but not economically • Economic rivals are allies = Europe and Japan What is power in the modern world? – guns, butter, ideology and money  The USA(e.g. at the time of Kennedy’s writing) has the guns (facing a rival in the USSR but there is no capitalist rival and offset deals see the USApaying for defence and thus expect returns); butter (in hindsight, it can be seen Japan had no challenge as there was economic mess with hindsight as the USA adapted: patents = the USAtakes most of the share of the world’s patents as it was
More Less

Related notes for SOCI 265

Log In


OR

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


OR

By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.


Submit