POLSCI 2H03 Lecture Notes - Lecture 7: Global Governance, International Monetary Fund, Invisible Hand

• School: McMaster University
• Department: Political Science
• Course: POLSCI 2H03
• Professor: Tony Porter

Document Summary

Hierarchies: operate through (cid:272)o(cid:373)(cid:373)a(cid:374)d a(cid:374)d (cid:272)o(cid:374)trol relatio(cid:374)ships where individual and department responsibilities and formal rules are clear, as is the chain of command, culture of su(cid:271)ordi(cid:374)atio(cid:374): k(cid:374)o(cid:449) (cid:455)our role, (cid:455)our pla(cid:272)e and the rules. Strict penalties for disobedience often enforceable through law. Trade-offs: not very innovative, rigid and slow to change: clear i(cid:374)stitutio(cid:374)al (cid:271)ou(cid:374)daries separati(cid:374)g (cid:449)hat is inside, and external to the organization, example: the military; bureaucracies. Neoliberalis(cid:373)"s global diffusio(cid:374: adopted (cid:271)(cid:455) (cid:373)ost (cid:272)ou(cid:374)tries i(cid:374) the glo(cid:271)al. North: volu(cid:374)taril(cid:455) adopted or (cid:272)oer(cid:272)i(cid:448)el(cid:455) e(cid:374)for(cid:272)ed (cid:271)(cid:455) most countries in the global south through international monetary fund and world bank lending conditionality often referred to as the washington consensus. Neoli(cid:271)eral glo(cid:271)alizatio(cid:374) has (cid:448)astl(cid:455) e(cid:374)ha(cid:374)(cid:272)ed the presence and importance of transnational corporations in global governance: (cid:1006). A shift i(cid:374) (cid:449)here go(cid:448)er(cid:374)a(cid:374)(cid:272)e pro(cid:271)le(cid:373)s are increasingly being addressed from the national level, to the global level as well as within networks: (cid:1007).