POL101Y1 Lecture Notes - World-Systems Theory, Brandt Report, Mercantilism
13 Apr 2013
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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.
