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November 4, lecture 3B03.docx

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Department
Political Science
Course
POLSCI 3B03
Professor
Richard Stubbs
Semester
Fall

Description
Started on: 11/4/2013 5:26:00 AM Last saved on: 11/10/2013 5:58:00 PM C LASS N OTES FOR : 3B03 McMaster University, Fall 2013 M ONDAY , NOVEMBER 4, 2013 Hidden developmental state in the United States (Fred Block) - Argues that the United States is a developmental state - Varieties of capitalism - Within regions - Capitalism in East Asia Capital State Labour Capital State Labour East Asia Important Most Important European Union Important Important Important United States Most Important Important Decreasing important - Britain is a liberal market economy - As opposed to German being a coordinated market economy. - France has a strong bureaucracy - Within regions we can have differences in terms of varieties of capitalism Entrepreneurial State reading - Maybe there are elements in the United States that can be argued to be developmental like - In the United States, the state plays an important role in the development of new technologies - United States in the late 1800s through the 1900s, one of the most important things about the economy was the advanced agricultural sector; best machinery, best ways of dealing with rotations, fertilizers and so forth. o Where did it come from? o Came from the large grant universities of the Mid West  Land was set aside for Universities and huge amounts of money were put into them to do research in agricultural  State led technological development for the United States o To some extent in Canada, we’ve had similar processes o The state has been heavily involved in research in the United States for a long time  State involvement in the economy (GHOSH AND NANDA 2010) Overhead o Discourse over the last years since the onset of neoliberalism and the cold war; the language around technology has been around venture capitalist (lions); the ones taking the risks, the ones that needed to be supported and taxes lowered because they’re taking the risks o The market should decide the movement o The private sector and the venture capitalists that are unleashing the animal spirits of the economy. o The US does well because they have neoliberal venture capitalists o As technology gets developed so do the risks come down;  Basic applied research is funded by Universities and Government 1 Started on: 11/4/2013 5:26:00 AM Last saved on: 11/10/2013 5:58:00 PM  It’s not until the idea vetting and pre-commercial testing do you get into Venture capital  It’s the government that has essentially put forward or funded applied research out of which comes technology that can be applied more widely in our lives;  Governments that put money into basic and applied research at the beginning of the process tend to have economies which are much more successful;  Japan, Germany and France who have strong holds of the State; o COLD WAR 1970-1980  Japan put 2.5% of the GDP into R&D  Soviet Union put 4.0% of the GDP into R&D  Japan did much better because it had a system of putting the R&D
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