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Feb 14th Postwar Reconstruction Growing the Global Economy Lecture

6 Pages

Political Science
Course Code
Joseph Wong

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Postwar Reconstruction Growing the Global Economy Feb 14 2011 Government Intervention o Made policies to create comparative advantageie TaiwanInfant Industry Protection o Made foreign competition more expensive by imposing tariffs taxes etcPicking and Making Market Winners o Strategically chose sectorsproducts they knew they could sellAmerican Patronage o Benefited from American foreign aid o America provided support in terms of security o Americans bought Asian goodsDevelopmental Stage o Government was unique HierarchicalBureaucracythe best and the brightest States had power moneyExport Oriented Growth o Economies were plugged into the global economy Outlier or ModelMarket regardingAdam Smith o Not socialist or communisto Selling things what consumers wantedMercantilistList and Hamilton o Predicated on government intervention o Used policies for comparative advantageDependent developmentLenin and Walterstein o Peripheral Economies o Dependent on foreign aidGlobal Economic GrowthPrewar Interwar and PostwarWorld GDP18701913 25 19131950 10 WWI and WWII19501960 4219601979 53World WarsMajor turning pointThe World WarsA Devastating Turning PointWWI 15 million deathsWWII 50 million deathsPhysical destructiono Major countries were completely destroyed o Economic infrastructure had been destroyedHow did the world wars shape the economic order in the postwar period
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