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POLC99H3 (33)

Lecture 02 Notes

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University of Toronto Scarborough
Political Science
Norla Carloff

The Political Economy of Finance Lecture 02 Sept.2210 Two broad approaches to examine issues o Economist Perspective Market as mediated supply and demand through markets; markets are independent; actors are units (government, firms, institutions) o Units have well defined and separate functionsroles in the economy o Done through deductive reasoning looking through the lens of a theory thus it is temporarily true until refuted o Also there is inductive reasoning which is looking through patterns first (such as data) then moving to a theory Theory becomes a law since its very difficult to refute (not preferred by many economists) o Neoliberalism (major) and neorealism (not as relevant; NGOs as an example of why its not as relevant) are two main perspectives o Sociological Perspective relations, trends, patterns across societies leads to order and thus a post-positivist approach Credit borrowing issues; traditional IPE theory does not take full breadth Banks have a difficult time using this approach since its hig
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