Class Notes (836,147)
Canada (509,656)
POLI 381 (50)
Lecture

International Political Economy.docx

6 Pages
69 Views
Unlock Document

Department
Political Science
Course
POLI 381
Professor
Robert Neil Huebert
Semester
Fall

Description
International Political Economy IPE  Objective: To understand the different lenses of IPE o What are the different ways of understanding the relationship between economics and politics o Why should you care? Different Visions  What is the role of Capitalism? o Capital should be free, allow industrial entities a relatively free reign.  Is it a force for prosperity/peace  Is it a force for inequality/poverty  How do we understand? o Economics  Prosperity? The countries who abandoned to go to capitalist did improve. Reduce barriers to trade and finance in the International Economic System, you can improve the prosperity of the entire system. o History  Liberal peace theory  countries that are functioning liberal democracies with open capitalist systems do not fight other liberal states. Structure of government ultimately determines if there is war.  Soviet union example of a closed control economic system that ultimately failed. o Culture  America  culture of individualism. Means they are the country that was most susceptible to creating a capitalist system.  How do you measure and do research on culture. o Acceptance of value of process High Politics vs Low Politics Increasing Profile 1989-2010  Low Politics – looking at economics  Increasing Global Interdependence o International system is becoming at the very least perceiving it is becoming more interdependent.  Relative Decline of US economy o China is making headway and could catch up.  Rise of other state economies  Rise (and for some – fall) of MNC o Seeing MNCs becoming equal partners/can no longer be contained within state power.  Oil shock o First one in 1973 – ongoing middle east war. Egypt and Syria launched a surprise attack on Israel and was almost defeated, but ended up defeating the other militaries.  EU  Growing Awareness of difference  Collapse of USSR Realism: Mercantilism and Economic Nationalism  Viewpoint that the economic system can in fact be controlled by governments. Belief and founded that economics are secondary politics.  “Buy USA”; “those jobs going over there”  See the world economy as zero-sum o Seen as a pie. As a nation, the more you got the less others got. o Occurred in the inter-war period, countries began enacting protectionist measures to hold onto their share of the pie.  Use of protectionism; tariffs; subsidies; quotas o Interfered with trade. Was about the responses to the Stock Market crash. Trade wars  lead to worst elements of depression. No trading, no demand, people were let go, unemployment, social services could not meet the demands. o Demi gods are usually the worst solution  don’t understand economic system. Tend to be authoritative in nature. Tend to want to be militarily aggressive.  Should GM be protected?  What of FTA?  Following great depression – mercantilism just isn’t working. Liberal Approaches: Classical Liberalism, Keynesianism, Institutionalism  Rejects Zero-Sum assumption o Economic system can continue to grow. How do we ensure we can get enough pies to ensure everyone gets their fill? o Argues that the market should be allowed to develop unimpeded.  All gain from improved economics o Mercantilism is a disaster. Take government out of the system. o Accept there will be times of economic depression. Market as readjusting themselves.  Laissez-faire Economics – allow the market to determine economic inter-action o Can’t have a government back stopping or intervening.  Keynes calls for some market regulations o State can have some minor elements of controlling the overall economy. Have state levers that can help you control the economic system. Provide a safety cushion (not a large one). Whereabouts to provide social assistance. Spend when times are rough, tax when times are good.  Role of International Organizations o Provide assistance to those countries that are particularly challenged from an economic perspective  Main issue is control of Economy  Get cycles  ebbs and flows. Productivity goes up and down. Downside: Human cost. Stress onto any state.  United Nations favours Keynesian system. State was unable to deal with the depression.  Keynesian: Effort to be able to control the economy.  Market should rule  argue as to how much they should intervene. Marxism  Historical study of Transition from one mode of production to next o Looking primarily of the political control o
More Less

Related notes for POLI 381

Log In


OR

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


OR

By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.


Submit