POL 2103 Lecture Notes - Kondratiev Wave, International Political Economy, Mercantilism

• School: University of Ottawa
• Department: Political Science
• Course: POL 2103
• Professor: Joseph Roman

Document Summary

Pol 2103 e - intro to international relations & global politics - joseph roman - 21 mar. Mercantilist/neo-mercantilist perspective on ipe: states are the central actors & economic power is a component of state power, balance of trade should always be positive. Always want to export more than you import, meaning that other states are reliant on you for goods: develop leading edge technologies. Grabbing a market share asap in certain technologies gives a state advantages over other economies: beggar thy neighbour policies. Mercantilists also emphasize this, meaning eat into other states" market shares: mncs (multinational corporations) are dependent on home states for gaining access to foreign markets. Liberalist perspective on ipe: in some ways a rxn to mercantilism. Keynes was not a socialist, was a pro-capitalist. However, he realized there were some problems with markets and the laissez-faire economics.