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Lecture

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Department
Political Science
Course
POL101Y1
Professor
June Larkin
Semester
Winter

Description
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 Colonial legacy: post-colonial countries (Africa, Asia, etc) had very little prospects of development  “Structure” of Global Capitalism - international system requires exploitation, capital, etc - Dominant “core” versus dependent “periphery” - Structural dependency - On mono, low-value exports - On global north  The implications of global capitalism: we all have to agree we live in a global capitalist system  Adam Smith: embrace global capitalism  Marxist: you should manipulate global capitalism  Leninst: you should reject global capitalism (1)Cosmopolitical view: positive sum universal good, not about dominance (2)Mercantilist view: preventing dominance (3)Marxist/ Leninst view: has to be about dominance  The appeal of World Systems Theory  Post-colonial moment  Underdevelopment as empirical reality  Soviet alternative and self-reliance  Development as global “project”- Brandt commission (our responsibility for foreign aid)  The fact of the matter is, the poor stay poor  But then something curious happens…  Most of the developing world stayed poor  A growth rate was seen (1965-1980)  Latin America and Africa are experiencing growth but countries in Asia were experiencing very rapid growth  The East Asian Miracle - Rapid economic growth
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