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Lecture

International Political Economy.Feb27

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Department
Political Science
Course
Political Science 2231E
Professor
Jessica Trisko
Semester
Winter

Description
Week 7: International Political Economy th Wednesday, February 27 , 2013 Essay Guidelines  Answer the question  4 relevant academic sources, including 1 book o Try and get 15 sources, 10 recommended  3000-3500 words, not including bib  12pt font, double-spaced, citations  Chicago style o Bibliography  Counterarguments: limitations to the argument you are making o Generate a discussion  Forget structure from last year o Doesn’t have to be 3 clear arguments; can be related Political Economy of the iPhone  125,000 sold: first generation  Decade later: over 200 million sold  The iPhone and its related to international trade o Average sale price: 560$ o Different countries responsible for producing portions of the iPhone o Manufactured mainly by a Taiwanese country in China  14$ goes to this manufacturer who makes the iPhone  Apples cut is 368$ after paying out patent, etc.  Apples marketing makes them a lot of money]  Apple is not the major technological developer  Important political costs that aren’t captured on an economic model  Political costs of the iPhone o Depletion of rare minerals: depletion of indium- mineral used for LCD screens and touchscreen displays o Modern day gold rush; discovery of indium in the UK o Labor unrest in China  May 2010: 9 worker death at iPhone firm Foxconn  July 2010: Foxconn shuts Indian plant as 250 staff fall ill  Feb 2011: 1 million workers, 90 million iPhones, 17 suicides. Who’s to blame?  Sept 2011: Foxconn halts production at plant after mass brawl  BUT: see Factory Girls; from village to city in a changing china: Leslie Chang- 2009  Political economy impact from a social mobility perspective o Mobility, they can achieve social mobility that would otherwise not be available to them o What are the relations between corporations and manufacturers, to the consumer o Theory of mercantilism  Power and wealth were closely related  Needed to be wealthy = power  Regulated and controlled domestic trade  Positive trade balance: if you sold more goods then you imported you had a positive trade: gold  Put towards military power  I.e. Britain, 1800s  Trading >  Purpose of imperialism was to enhance power of motherland  Power through economic means declined in the 19 century  More countries engage in free trade  Rise of economic liberalism  Economic openness: capitalism, Adam Smith (invisible hand) o Invisible hand guiding and regulating the market  States were 1 of many actors  Everyone benefits  Maximizing own benefits  Flipside: o Economic liberals that gov’t intervention caused problems form the proper function of markets o Reduced overall welfare o Laissez-faire: self regulating and organizing  Some option to overcome the issue of relative gains 1. Reciprocity 2. International regimes: monetary, systems of exchange and value currency 3. International law to protect rights 4. Interdependence: mutually benefit and rely on one another  David Ricardo o Ricardian Principle o Absolute vs. comparative advantage o Mutual gains existed; made wealthier by producing cheap goods then selling high  Profits o Could benefit more if they specialized in the production of specific goods  Would lead to comparative advantage  i.e. Britain and production of steel o Countries have different resources so they cost of production varies o Issues: health and safety concerns o Trade barriers:  To protect domestic businesses  Don’t want to compete with lose cost foreign imports o Protectionism  Rest
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