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Lecture

International Politics

5 Pages
163 Views

Department
Political Science
Course Code
Political Science 2231E
Professor
Charles Jones

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Description
Notes Theories of IPE international political economyInterrelated processtrade money business integration communication environmental management the economic development of poor countries Trade is central to this Sens and Stoett pp288291 Structures and intuitions of the global economy are based on LIBERAL ECONOMIC THEORYRealists See the world politics as a struggle between states for preservation and powerEconomic nationalism neomertcantilism will prevailStates will cooperate with world economywhen in their interest however frequently in conflict or competition Governments primarily concerned with the HEALTH and SECURCITY OF NATIONSTATE o Economic power is simplify a means to maintain or increase that powerContemporary world economy the maintained of protection trade borders the provision of subsidies and tax benefits to crucial industries and economic sectors trade wars 2004 USEU steelworld area in competitive where states pressure their own interestsExpect little progress by worldregional trade talks from trade organizationsthey are controlled by the state by liberal principles and rhetoric pressure own interest before others o This explains the failure to reach trade and financial agreementsthe persistent gap between rich and poor countriesexistence of trade wars LiberalsSee individuals households firms maximizing their opportunity to pursue mutually beneficial exchange in the global marketplaceCompletive advantageworld adhering to free tradebenefits of efficient use of capital and resources Institutions in world economy following liberal principles tariff reduction non discriminative national treatment harmonization of regulations and rule based trade is positivegreat cooperation and economic interdependencewealthier and less warlike world built DEBATES AMONG LIBERALSrole of state regulation in world economykey debateo Neo LiberalsStates should play a minimal managerial role
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