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POL101 Lecture #6 W

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Political Science

021312 POL101 Lecture 6 W WongPostwar Reconstruction Growing the Global Economy Individual effort national government policies global growthReview Asias Rise How did they asias economy rise come about 1 Grew as a government interventionSubsides investments paying for RD TSMC 2 Infant industry protectionGovernments import duties and taxes on foreign goods3 Picking and making market winnersMade or global market demand created comparative advantages4 American patronageEconomic and military aidAmerican consumers were global consumers5 Development state Peter Evans ArticleGovernment was meritocracy hierarchy had the ability to coordinate economic activity6 Export orientated growthIf you wanted to get rich you have to plug in to the global economic marketSuccessful countries are exporting more than importingOutlier or ModelMarket regardingAdam SmithThere is a market logic to economic behaviour Global trade is what fuels economic trade The Weberian effort is what allowed Asia to rise MercantilistList and HamiltonHad less to do with individuals and more about the government and its government interventionDependent developmentLenin and WallersteinComprise of the core and the peripheryThey depended on the core to develop foreign aid market In the end Asias economic rise is the cause of the dependent development that the periphery depended on the core to riseGlobal Economic Growthprewar interwar and postwar World GDP average annualchange18701950 25 19131950 10 WWIWII19501960 42 19601970 53 During the WWI there was hardly any growth and soon risen after the war WWI and WWII was a global economic turnThe World Wars a devastating turning point WWI15 million deaths WWII50 million deaths There was also physical destruction Europe and Japan Destruction of infractures industries and moralityWorld War 1 19141918
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