POL 2103 Lecture Notes - Lecture 13: Unequal Exchange, International Political Economy, Corn Laws
17 Oct 2016
School
Department
Course
Professor
Document Summary
International political economy interplay of politics and economics in world affairs. Except marxism: causes of underdevelopment and inequality. Us & others leave gold, end of bretton woods financial system. > system based on converting dollar into gold. > us dollar and others stop using the gold standard. Start of huge us bop deficits and overseas borrowing. > each currency is bought and sold at market prices. New forms of protectionism (non-tarriff barriers) rise of opec cartel -> oil crises (1973-1979) New ways that government try to protect domestic producers from foreign competition. In context of un, they called for new economic order. Series of 7 demands, best known is the idea that northern or developed countries have certain proportion of gdp to foreign aid. Only sweden has been able to meet on a consistent basis. Increasing prominence and refusal not being heard rise of interdependence theories in ir. Developing world influence of new ipe theories: dependency theory, marxist influence theories.
