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2J03 - Jan 11 & 12, 2012.docx

6 pages44 viewsFall 2012

Political Science
Course Code
O' Briem

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Global Political Economy
January 11, 2012 January 12, 2012
GPE Perspectives
- Economic Nationalist
- Liberal
- Critical Approaches
- Read Chapters 1&2 of the text
- Theory
- Overview of perspectives
- Approach of the book
- Not Covered (most of Chapter 2 discussion of the 4 key scholars, methodologies
debate, and globalization and IPE)
- Why?
o Ordering facts
Access to information
Limitless to what you are going to discover
You need to figure out what facts you are going to deal with? What
is your starting point?
Theory allows to examine them and challenge them
Ex. Global warming: different perspectives suggest look at
different actors (state, corporations [liberal], population)
o Prediction
If we do A, B will happen
Ex. Raising taxes, what will happen to the economy?
If you adopt a particular actions, you should get a particular result
Closer to a science based model
o Understanding
Prediction isn’t the main use of theory
Understanding is the main use of theory
There are too many variables to affect the situation that will allow
you to successfully predict
o Action
Informing people of what is the most appropriate action under the
Depending on your perspectives you will end up with very
different policy descriptions for the same problem
- Why so many?
o For someone, for some purpose
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Theories are not value natural, they are usually sparked by
particular groups of people with their own interests and purposes in
States that advocate free trade are usually most economically
Ex. Britain when it was at the top of the world, urge the
whole world to go into Free trade
Relationship between theory, people who propose the theory, and
the purpose of the theory
o Theories cannot be disproved
We have rationalizations as to why theories don’t work
Ex. Early Soviet Union Marxism
Crash = fundamentally flawed theory
Ex. Financial crisis of 2008 illustration that liberal
market forces do not work … liberals would respond it
wasn’t truly a liberal market
Examining the Perspectives
- Historical Origins (when and why)
- Key Actors (states, corporations, people)
o Do these theories stress these roles of the actors?
o Can demonstrate that theories do this in different ways
- Key Dynamics (what makes it tick)
o Engine may be self-interest, cooperation. Etc.
- Conflict and Cooperation (0 or +Sum)
o What is the possibility of it
o 0 sum = you have a pie and if you divide it up anything you get is
something I don’t get … difficult situation, and gain for me is a loss for
o + Sum = both benefit … ex. Both grow a bigger pie
- Variations (over time and space)
o Ex. Liberalism today isn’t the same as it was in the 1800s etc.
o Ex. Today we have different forms of liberalism
US, Sweden are liberal societies but different how they organize
Economic Nationalism
- Alexander Hamilton 1791
o He wrote Federalist papers
o He was one of the founding fathers of the US
o He was a leading Economic Nationalist Theorist
o Today we associate US with free trade
- Origins
o 15th Century
- Key Actors
o State, prior to market
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