Political Science 1020E Lecture Notes - Lecture 3: Neomercantilism, Protectionism, Market Socialism
29 Feb 2016
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Document Summary
Poliical and economies interrelated: economy inluences poliical outcomes- money talks , poliics inluences economic outcomes. Single discipline: with spread and strengthening of markets beginning 18th century, explored implicaions for poliics and society. An independent discipline: ofshoot of poliical economy and history, in britain and usa late 19th and early 20th centuries. Poliical economy: renewed interest of late: re-embedding, raional choice. State formaion inspired state intervenion in markets: mercanilism naional wealth and power, protecionism- beggar thy neighbour", developmental states- neo-mercanilism. Classical for adam smith markets are: natural, spontaneous, inclined toward eiciency and equilibrium, great communicators, best let largely alone, the basis for a new science of society. Neoclassical-economics becomes: a mathemaical science, much less poliical, clearly disinct from poliical science, eager to ofer market man" as general model. Capitalism is: exploitaive, internally contradictory, prone to revoluion by class-conscious proletariat. Marx: succession of economic systems: primiive communism, slave society, feudalism, capitalism, communism.
