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Lecture 2

Poli Sci 3b03 week 2.docx


Department
Political Science
Course Code
POLSCI 3B03
Professor
Richard Stubbs
Lecture
2

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Poli Sci 3b03: Week 2
Monday, September 16, 2013
• The cold war was important for two reasons; 1) the fear of Moscow, Soviet Union, Red Army
and the military threat possessed by communist SU 2) Came out of the 1930s – the depression.
The point for the American’s is how do we avoid that happening again
• The Americans thought in particular that in order to get out of that and for it not to happen
again is through trade and economic exchange
• The point that the Americans were concerned about was that if communism dominated large
portions of the world, than those portions of the world would be cut off from American trade. It
would then retrain the American economy for growing their economy
• For Moscow that idea was that you would have a set of buffer states between Russia and the
European states. For the American’s it was a problem because those are the countries that the
American’s wanted to trade with
At the end of WWII, the war ended in Europe first, and Stalin had signed an agreement stating
that once the war finished they would help to defeat Japan (which they did)
• The Americans were very keen in the 1800s to trade with China, but they “lost” China as they
(China) became communist, therefore it limited trade with the US
The way in which Economic Development should take place:
• Talked about ISI – Important Substitute Industrialization
• In a sense, ISI comes out of an idea called Mercantilism
• The Mercantilist were an important force of making theories of economic development
• What is Mercantilism?
• Textiles
o You have to help new industries. For much of this time it was clothing and textile companys
o You make sure capital (money) goes into these industries, you do not tax them, You protect
them
o You put tariffs on imports outside of these countries
o Ex. India was making textiles, but Britain was taking over and trying to build their own textile
industry. So what you do is stop the competition from coming in by putting high tariffs on
anything coming in (from India)
o High taxes on things coming in, low taxes on things within
• Gold and Silver – Bullionism
o Bullionism – this is a time when everyone was going after gold and silver
o The idea was that if you were a strong nation you would have lots of gold and silver
o You needed a strong agriculture and you needed a relatively strong state and to be self sufficient
with power
o What is power? The ability to act, in other terms self-sufficiency. Not to be told by A what
B should do
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