Class Notes (806,696)
Canada (492,414)
POL101Y1 (1,114)
T A (22)

Postwar Reconstruction – Growing the Global Economy

7 Pages
Unlock Document

University of Toronto St. George
Political Science

POL101 th Feb. 14 , 2011 Postwar Reconstruction – Growing the Global Economy N.B. For the paper: describe contending perspectives at the bare minimum, comparing (similarities & dissimilarities, unit of analysis, etc.,) Asia’s Rise Government intervention: Governments intervened in the market by creating strategic policies to develop industry (e.g. Taiwan bought foreign technology, invested directly in firms) Infant industry protection: How is America going to grow its industries & firms to be competitive in the 19th century? Alexander Hamilton says you have to protect infant industry by making foreign competition more expensive by placing a tax on foreign goods, allowing them to grow & become competitive Picking & making market winners: Small economies that cant do everything, thus they had to pick sectors that were suited for their industrial economies (market winners), picked winners on the market market-regarding economies that paid attention to what markets wanted American patronage: Huge aid given, also military support, largest naval fleet based in Japan to protect economies from Communist expansion in the 50s/60s Disproportionate amounts of aid, Americans also bought Asians good (American market consuming Asian goods) Developmental state: Institutions “guts of government” were hierarchical, bureaucracy meritocratic (only the best invited into the bureaucracy), also quite wealthy Export oriented growth: You could only grow so much by selling to your own country & domestic markets thus they needed to export plugged into the global economy, extent to which they are engaged in foreign trade Positive terms of trade these economies sold more than they bought Outlier or Model? Market regarding Smith Not Socialist or Communist economies, had a keen sense of what the market wanted, were selling high-quality goods that consumers wanted Mercantilist List & Hamilton Predicated on government intervention, economic nationalism, used policies to create comparative advantages Dependent development Lenin & Wallerstein Were periphery countries dependent on foreign aid, investment, markets, & technology Global economic Growth – prewar, interwar, & postwar Plugged into the global economy when the world economy was experiencing rapid growth, during “good times” 1960-70 – economy growing at a rate of 5.3% World wars were a major turning point something happened before & after that allowed for economic growth, as well as an international context that would allow economies in Asia to plug in What happened in the postwar period that allowed for this growth? The World Wars: a devastating turning point Economic infrastructure that had been developed in the 19 century was destroyed What was it about WW1 & WW2 that saw global growth in their wake? 2) How did they shape postwar reconstruction? 3) What lessons did we learn from the world wars, how did they shape the global &economic world order? Wars that preceded the generations that set up the world economy that we live in today World War I Rise of Germany: Leading country of heavy industrial production, engaged in the naval arms race with England – England had met its challenger England was in decline, Germany economic growth rates double that of England Alliance formation: Result of Germany’s rise: England became nervous, forming an alliance with France & Russia (rationale here was that together the three could balance the rising power that was Germany) Isolationalism/expansionism: Germany begins to feel isolated (encircled by the Triple Entente), allies with Austria-Hungary & Italy Power transition moment: Moment of instability in Europe due to a rising Germany 1919 Treaty of Versailles & Germany’s defeat: War Guilt Clause: basically said WW1 was Germany’s fault Collective Security Woodrow Wilson: Policy of non-intervention during WW1, US joined war in 1917 The system is broken, which led to WW1 Notion of balance of power that created WW1 – which is supposed to be stable, is in fact unstable creates notion of collective security Collective Security Doctrine: Preservation of state sovereignty Aggression illegal; outlaw offensive war Deter aggression through coalition Failed deterrence lead to collective punishment League of Nations – Paris Peace Conference, 1919: Moral force of men throughout the world (moral imperative of collective security, cannot have WW1 happen again, underneath this moral imperative is the threat of punishment) th 19 century: belief that collective security would keep the peace Fragile on two fronts: security & economic (I) Breakdown of Collective Security Japan’s East Asia Co-Prosperity Sphere: Wanted to be at the table with the European great powers at the time Excluded from the Treaty of Versailles which made them angry 1931: Invades the province of Ma
More Less

Related notes for POL101Y1

Log In


Don't have an account?

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.