GOVT 314 Lecture 44: International Politics Notes Part 2
23 Jun 2016
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Document Summary
Week 8: international political economy and international trade. International society is increasingly rent between economic and political organizations. Economic and technological forces are creating a highly interdependent world economy, thus diminishing the traditional significance of national boundaries, but the nation-state continues to command man"s loyalties and to be the basic unit of political decision making. The conflict of the era is between ethnocentric nationalism and geocentric technology. Politics largely determine the framework of economic activity and chennels it in directions intended to serve the interests of dominant groups, but the economic process tends to redistribute power and wealth, transforming the power relationships among groups. Politics and economics can be seen as two different ways to allocate scarce resources- politics through a market mechanism and economics through a budget. Wealth- anything that can generate future income (capital, land, labor), and power is the necessary means to achieve objectives pursued by nation states, including welfare, security, prestige, and even wealth.
