POL101Y1 Lecture Notes - World-Systems Theory, Brandt Report, Mercantilism

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Published on 13 Apr 2013
School
UTSG
Department
Political Science
Course
POL101Y1
Professor
Jan 4 Lecture
Outliers or Models? Dependent Development
What is development?
- Progress, transformation
- Human development: health, security, etc
- Equitable development: distribution of income, GDP, distribution of wealth,
life opportunities, gender, etc
- Capacity: skills acquisitions, education, upgrading to development
- Sustainable development: environment, diversification
- Political development: democracy, human rights, modernization theory
Focus on aggregate economic growth
How to explain? THEORY
A Theoretical Conversation: (I) the cosmpolitical view
David Ricardo: pursuit of individual advantage is admirably connected with
the universal good of the whole = natural division of labour and a working
world!
Adam Smith: invisible hand of the market makes the world work, positive
sum world
(II) the mercantilist view
List/ Hamilton: you are only extracting the view of the hegemon, I,e: the
ENGLISH, nations matter- not just about individuals, its about countries, a
negative sum world
(III) the Leninist view
a theory of international relations opposed to Marx, the emergence of
capitalist monopolies (opposite of free competition), naïve notion of free
competition taken over my monopoly capitalism, as capital (money)
continues to grow, capital needs to expand, the basis of imperialism: colonial
expansion
World System Theory
- Inspired by Marxist/ Leninist tradition
- Looking at the consequences of imperialism
- Three key points:
- (1) World system exploited, (2) global economy is actually global, (3) a
structural theory
- Immanuel Wallerstein:
the dependency school->
A systemic view of global capitalism (developing/ developed world)
Liberal ideological hegemony
Monopolistic producers (MNCs): huge firms
Monopsonistic purchasers (the north): opposite of monopoly on the
production of a good, you have a monopoly on the purchase, have power
over the price
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Document Summary

Equitable development: distribution of income, gdp, distribution of wealth, life opportunities, gender, etc. Capacity: skills acquisitions, education, upgrading to development. Political development: democracy, human rights, modernization theory. A theoretical conversation: (i) the cosmpolitical view. David ricardo: pursuit of individual advantage is admirably connected with the universal good of the whole = natural division of labour and a working world! Adam smith: invisible hand of the market makes the world work, positive sum world. List/ hamilton: you are only extracting the view of the hegemon, i,e: the. English, nations matter- not just about individuals, its about countries, a negative sum world. Three key points: (1) world system exploited, (2) global economy is actually global, (3) a structural theory. A systemic view of global capitalism (developing/ developed world) Monopsonistic purchasers (the north): opposite of monopoly on the production of a good, you have a monopoly on the purchase, have power over the price.

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