Political Science 2231E Lecture Notes - Lecture 12: International Trade, New Imperialism, Import Quota
9 Dec 2016
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International trade : northern states, 60%= na, western europe, japan/ pacific, 40%= 3rd world countries. Labour- move to labour- needed markets, better paying markets: facilitated by. Dominant approaches: neomercantlism -- realism = states (neo-imperialism, neoliberalism -- economic liberalism = individuals & firms, public choice -- liberal pluralism = interest groups, business & governments (domestic politics) Challenger approaches: marxist -- production under capitalism, world systems -- exchange under capitalism, neo-gramscians -- economic & cultural hegemony under capitalism, feminist -- gender & sex under capitalist patriarchy. Production: commodity: anything sold/traded as a good or service in any market (commodification, comparative advantage. Import-in disadvantages: differentiated goods: non-necessary & luxury goods or services; greater than regular goods. Exchange of goods & service are exchanged. Signaling through price mechanism: market imperfections: distortions or problems in the market, e. g. corruption of inflation. Types: monopoly: single supplier, oligopoly: few suppliers, free market:
