POLB80H3 Lecture Notes - Lecture 8: Bretton Woods Conference, International Political Economy, Deterritorialization
2 Sep 2016
School
Department
Course
Professor
POLB80- Lecture 8- International Political Economy I. Globalization and Financial Crisis
Neo- Realism and Neo-Liberalism
Problem solving theory
• Structural realism and liberal institutionalism
• Anarchy and states→ rational actors
• Takes the world and finds it→ anarchy
• Seeks objective understandings of the world
o General truth claims
o Make the world better
• Make state run more smoothly to stay as a part of the system
Critical theories and approaches
• Marxism, feminism, post structuralism, post-colonial
• Questions and problematizes world (generally)
o Reject objectivity in exploring the world
• Emancipation
• Aspire to reject making changes
Constructivism
• Social theory→ social and constructed reality of global politics
• Focus on identities, ideas and norms
• Understand change
• Appropriateness vs logic of consequence
Globalization
• Historical process→ transforming the spatial scale of social organization, linking distant
communities and expanding the reach of power relations
• Internationalization→ increase in transactions or interactions across state borders
o Increases massively during WWII
• Technological Revolution→ new means of communication (electronic communication)
• Deterritorialization→ national borders mean less as globalization progresses
o Easy to move money from one state to another→ fluidity
• Liberalization→ policies and actions (by states) that facilitate economic globalization
o Speed and intensity of globalization is new but the phenomena is not
o States and governments affects globalization→ can be halted by states
Post-War International Economic Order
• Delegates at the Bretton Woods Conference→ USA and allies negotiate norm, rules and
process, post-war
o Seek international peace and security (United Nation→ 1945)
o International economic growth and stability
• Bretton Woods Institutions
o World Bank
o World trade Organization→ GATT
o International Monetary Fund (IMF)
▪ Macro-economic stability→ exchange rates between currencies
Embedded Liberalism
• Characterized post war order
• Tension and compromise was present
o Free trade vs government intervention
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