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Lecture 2

Poli Sci 3b03 week 2.docx

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Department
Political Science
Course Code
POLSCI 3B03
Professor
Richard Stubbs

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PoliSci3b03:Week2 Monday,September16,2013 „Thecoldwarwasimportantfortworeasons;1)thefearofMoscow,SovietUnion,RedArmyandthemilitarythreatpossessed by communistSU2)Cameoutofthe1930s‟thedepression.ThepointfortheAmerican’sishowdoweavoidthathappeningagain „TheAmerican’sthoughtinparticularthatinordertogetoutofthatandforitnottohappenagainisthroughtradeandeconomic exchange „ThepointthattheAmerican’swereconcernedaboutwasthatifcommunismdominatedlargeportionsoftheworld,thanthose portionsoftheworldwouldbecutofffromAmericantrade.ItwouldthenretraintheAmericaneconomyforgrowingtheireconomy „ForMoscowthatideawasthatyouwouldhaveasetofbufferstatesbetweenRussiaandtheEuropeanstates.FortheAmerican’sit wasaproblembecausethosearethecountriesthattheAmerican’swantedtotradewith „AttheendofWWII,thewarendedinEuropefirst,andStalinhadsignedanagreementstatingthatoncethewarfinishedtheywould helptodefeatJapan(whichtheydid) „TheAmerican’swereverykeeninthe1800stotradewithChina,butthey“lost”Chinaasthey(China)becamecommunist,therefore itlimitedtradewiththeUS ThewayinwhichEconomicDevelopmentshouldtakeplace: „TalkedaboutISI‟ImportantSubstituteIndustrialization „Inasense,ISIcomesoutofanideacalledMercantilism „TheMercantilistwereanimportantforceofmakingtheoriesofeconomicdevelopment „WhatisMercantilism? „Textiles oYouhavetohelpnewindustries.Formuchofthistimeitwasclothingandtextilecompany’s oYoumakesurecapital(money)goesintotheseindustries,youdonottaxthem,Youprotectthem oYouputtariffsonimportsoutsideofthesecountries oEx.Indiawasmakingtextiles,butBritainwastakingoverandtryingtobuildtheirowntextileindustry.Sowhatyoudoisstopthe competitionfromcominginbyputtinghightariffsonanythingcomingin(fromIndia) oHightaxesonthingscomingin,lowtaxesonthingswithin • Gold and Silver – Bullionism oBullionism‟thisisatimewheneveryonewasgoingaftergoldandsilver oTheideawasthatifyouwereastrongnationyouwouldhavelotsofgoldandsilver oYouneededastrongagricultureandyouneededarelativelystrongstateandtobeselfsufficientwithpower oWhat is power? The ability to act, in other terms self-sufficiency.NottobetoldbyAwhatBshoulddo BrettonWoods/EmbeddedLiberalism: „BrettonWoods‟theplacewheretheycomeupwiththeInternationalMonetaryFundandtheWorldBank „WhattheyaretryingtodoattheendoftheWWIIistoputinplaceasystemthatwillaccommodatesomeaspectsofprotectionism (governmentcontrol)andmoreinternationalopenness „OutofBrettonWoodswegetthisideaofEmbeddedLiberalism oYougetLiberalisminternationallyandtryandopenuptradeasmuchaspossible,butathomestateswouldbeallowedtointervene andhelpbringinthingslikethewelfarestatesencourageeducationetc.andtoprotecttheirpeoplefromproblemsthattheymight havebyopeningupint
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