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Lecture

Outliers or Models? Dependent Development

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Political Science
Course Code
POL101Y1
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T A

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POL101 Feb. 7 , 2011 Outliers or Models? Dependent Development What is development? Human development: Micro level – lived human being, health, education, literacy, infant mortality – are factors that are important in individual lived experiences Equitable development: The distributive or redistributive consequences of development How is wealth, income, prosperity distributed throughout the population? Life chances Capacity: Having the skills, education, experience and technology in order to continually develop Economic & human capacity necessary for development Sustainable development: Sustaining socio-economic development over long term Political development: Democracy seen in the political realm to be a form of progress (e.g. Egypt) N.B. Development is sense of improvement over time Focus on aggregate economic growth: how and why do economies grow? How do economies in the aggregate improve over time? How to explain? (Growth, aggregate economic growth) What is the role of theory? Theories help explain the world, prescribe, and endeavour to predict which economies will grow or not grow over the long term Predicators represent different vantage points www.notesolution.com A Theoretical Conversation (I) The Cosmopolitcal View “Under a system of perfectly free commerce, each country naturally devotes its capital and labour to such employments as are most beneficial to each. This pursuit of individual advantage is admirably connected with the universal good of the whole.” –David Ricardo, 1817 Invisible hand of the market ought to prevail (law of supply & demand), key to global economy is specialization = leads to a division in labour, each country, firm specializes creating efficiency (e.g. Barbie) Global productivity leads to global prosperity, and thus global peace This is a positive sum view, meaning everyone will benefit as long as everyone behaves rationally & is not lazy (Adam Smith) A Theoretical Conversation (II) The Mercantilist View “All England would thus be developed into one immense/manufacturing city…Germany would scarcely have more to supply this English world with than children’s toys, wooden clocks & philosophical writings.” -List, p. 53 “To maintain btw the recent …w/o the extraordinary aid & protection”. p. 42 Benefits the hegemony, what matters in the global political economy are states (countries) Unit of analysis, individual in the Smith view, for List & Hamilton it’s about nations Some nations benefit from other nations it’s an unfair system Impractical that new nations can compete with older nations, disparity forbids a successful rivalry Visible hand of government – in order to create more equal terms, requires the visible hand of government to create comparative advantages Low end manufactured goods would be produced if we follow Smith, thus government must create comparative advantages Efforts of government to grow their own industries, difficult for new countries to compete with long established economies like England (III) The Leninist View Imperialism is “the substitution of capitalist monopolies for capitalist… intense antagonisms, frictions & conflict” -Lenin www.notesolution.com Capitalism contradictory, according to Marx largely due to exploitative nature which will lead to a Proletarian revolution, ending capitalism (establishing a communist system) Highest orders of capitalism would sow their own seeds of demise Notion of everyone competing, leads to monopoly capitalism (huge firms that acquire capital, in time so much capital that it cannot invest in its economy (called “hot capital”) Hot capital must leave through imperialism – commercial interest, expansion of colonial imperialisms For Lenin it’s about finance capital that needs to leave the system, it does so by taking over other countries, violently Inequality, imbalance World Systems Theory Inspired by Marxist/Leninist Tradition 3 key points: 1) world capital system is inherently exploitative, and it has to be for the system to work, 2) global system (not a country, firm) it’s the nature of the system itself that matters, 3) structural theory – its just the way in which the world is structures, humans subsumed by this structure Immanuel Wallerstein: Coined idea of world systems theory A systemic view of global capitalism: Smith understood capitalism as European, rest of the world inconsequential, as did List (for him about Germany, & the rest of Europe) Global capitalist system included the established powers, as well as the countries that were “uncivilized” Liberal ideological hegemony: Ideological dominance throughout the modern era that privileged liberalism, and Adam Smith’s view of the world (of free trade) Writing in an era in which the dominant idea is free trade Deeply immersed in liberal ideology www.notesolution.com Monopolistic purchasers (the north): The modern multi-national corporation, firms that don’t seem to have a firm motivated purely by the pursuit of capitalism Inherently exploitative, scour the world for cheapest labour, raw materials Mobile (Lenin’s worst nightmare, mobile capital = exploitative) By virtue of their scale, monopolistic producers set prices This is a problem according to world systems theory – dependent up
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