POG 100 Lecture Notes - Lecture 12: International Monetary Fund, International Political Economy, General Agreement On Tariffs And Trade

• School: Ryerson University
• Department: Politics and Public Administration
• Course: POG 100
• Professor: Patrice Dutil

Document Summary

Ipe: the relationship between politics and economics (the parallel existence and mutual interaction of the state and the market) Goals of the state for the market: concerned with sovereignty and political unity, benefits from robust market (revenues through corporate taxes, revenues through individual taxes) Goals of the market for the market: thrive on openness and the absence of barriers to trade, benefits from state services (protection of property rights, provision of infrastructure, regulation of transactions) Infuses colonialism, 17,18,19th century (e. g. dutch trading empire based on water ability to pool their capital and launched a massive range of ships (east india company worth 100 million)) Reconstruction and development (later becomes world bank, the general agreement on tariffs and trade (gatt) International monetary fund: promotes international monetary cooperation, loans to developing countries from a pool of contributions from states. The world bank: purpose was to finance the reconstruction of europe, to aid development (head was always american)