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October 17: Conflict After the Cold War + Economics/International Relations Recap.docx

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University of Toronto Mississauga
Political Science

Politics week 6 lecture notes Economics exists today as a separate thing.... not until prial to 200 years.... it was part of politics... those who had ecomonic power had political power Royalty and those in power ruled the markets His book about capitalism.. adam smith.... started the change Prior to smiths time.. states who had lots of gold in treasuries were considered wealthy... he rejected that He argued that those societies that can produce and consume as much as possible r wealthy GDP – that goods/services shit 5000 or above gdp is relatively wealthy society... 1000-5000 middle range..... less than 1000 is broke Wealth of nations as we understand today is based on consumption! **************** Standard of living... not the same as the quality of life... r increases of standard of living in western society have negative impact on quality of life Essentially, the globe today is overlapped by 2 systems that are not identical.. system of sates... and economics *****Enconomics.. capitalism... is a process. And a capital.. is indeed such a process. It only becomes capital when they participates in a process M-C-M... turing money into commodities and into more money – profits! Becomes capitalist when it becomes more complicated.. start to organize our society, buy raw materials, machinery, labour... into the production of various commodities. This process has to be ongoing. The role of governments, states... is to give opportunities to buy the stuff... encourage investments in their jurisdictions. (low taxes, low labour costs, raw materials available). The capitalist relm is not something politicians cannot directly impact.. only indirectly.... by making the favourable investment. No real general agreement to control economics and the relation between economy and politics. ***Realists consider economics #2 to states. States engage in economics because it enhances their security and power. Argue economics doesn’t change the state systems. Theyu can make relative gains in the world system, but not absolute gain through economics. The focus on the economny is similal to time before adam smith. ***Liberals see it differently. Long argues in terms of david Ricardo (british economist) of comparative advantage theory. When it comes to trade between states, all states are best off if they put as few restrictions on trade as possible. That way they can focus on things they can do well... and other states can focus on the other stuff. EX. Portugal good at making wool and UK not... portual bad at breeding sheep but UK is. Focus on areas they have comparative advantage. If they open up their markets to trade... conflict becomes less likely. EX. China and usa.... china is propelling itself into the fastest prodiucing country in the world.. realists argue in short term china/usa will have no conflict. But in the long term china will become more powerfull and usa will attack. Liberals argue that conflict is unlikely. China and usa are strategic simeese twins attached at the wallet. Usa has created a serious unbalanced trade relation with china. Best way to enhance peece is to enhance trade as much as possible Marxists... world systems theory. They disagree with it all. Gue issentially that capitalism has been a world system since 1500s. Hyuge division between rich and poor... wealth distributed from the bottom upward. There is always downward pressure on the demand of labour... the price of labour continues to go downward. Profits from low wages go upwards to rich. From colonialism came international division of labour... west tend to benefit from it and those in the 3 world tend to supply raw materials and st rd cheap labour. Main class divide is between the ppor and the perifary. The 1 world is developed, the 3 world is undeveloped.. 1 is industrial... 3 is rural farms. Essentially all societies develop from primitive societies to more advanced societies. Marxist believed primitive communism goes to more advanced communism. Primitive communism is equality of everyone and everyone is poor. Communism is that everyone doesn’t have to work as much... its a society of pure leisure.. will happen after the fall of capitalism. Dependency theorists don’t see it that way. In 3 world u see them export all their raw materials and only import stuff they need to survive. Old UK never did that. Globalization, in modern phase of it it happened from the collapse of tghe soviet union. Also happened in a revolution in communications (FB, TWTER). Far greater integration of economic institutions cuz of this. Like a mac.. raw materials from Africa... programming from india... parts made in china.. assembly done somewer else.... that is all globalization. Conflict has changed in the aftermath of cold war. Cuban missile crisis has brought the world closer than ever to a global nucle
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