POLISCI 359 Lecture Notes - Lecture 2: Friedrich Hayek, Karl Polanyi, International Inequality
1 Feb 2016
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What would be most advanced form of governance. Veiled: we wouldn"t notice it was happening. Pervasive: it would enter into most social settings, in subtle ways. Anonymous: it would be associated with no one; it could not have identity/address. Flexible: it could adapt to changing circumstances. Many think they have identified such forms of rule: ideology/dominant ideas (constructivists) The power of global markets in global economic governance. Positive and skeptical views on the role of the market as a governing force. Market as an independent agent vs. market as an instrument of other agents. 3 austrians who thought a lot about markets: karl polanyi, friedrich von hayek, schumpeter. Questions ipe tries to tackle in relation to global markets. Q1: how do we understand global markets in affecting. Key concepts in measurement of inequality: gini coefficient, concept 1, 2, and 3 inequality, ppp vs. market exchange rates. Two very different thinkers: martin wolf, robert wade.
