POLB81H3 Lecture Notes - Lecture 2: Corn Laws, Class Conflict, Protectionism
Document Summary
Every country need the us dollar to import/export. Nixon was determined to stabilize it, used to have fixed exchange rate, now determined by the market. Ipe could be seen in low-ball trade, global finance, mncs, n-s relations. Need for a break from ir into ipe. Relative gains: how much you make compared to another. Marxism and ipe: marxism: a critique to capitalism (private ownership of means of production, domestic: class struggle. International: global capitalist order reflects the interest of those who own the means of production: world system phenomenon, dependency theories. Tariffs: revenue, protectionism issues (smoot-hawley act, 1930 increased duties as well as the scope of tariff coverage, national policies have always been at offs with trade agreements. Engineered by secretary hull, was a trend towards trade liberalism (is an important element of international peace and stability: 2. Tariffs no longer an exclusivity unilateral policy of one single city state: 3. A foundation of trade liberalization adopted after ww2.