POL 1025 Lecture Notes - Lecture 17: International Political Economy, Market Discipline, Mercantilism
Document Summary
The politics of international trade, finance, and money: what is international political economy (ipe), economics the creation, distribution, and consumption of wealth. The social science that deals with the production, distribution, and consumption of goods and services and with the theory and management of economies or economic systems. What is international economics: trade (international trading system, stable currency (international monetary system, distribution of wealth internationally (development, politics the acquisition, maintenance, and exercise of influence. What is international political economy: definition: the study of the interrelationships between political and economic processes, linking the political and economic spheres. 2 distinctions: wealth/influence; states/markets: the dual logics of state and market, how states use foreign economic relations to pursue political agendas, market discipline: how markets bend states to their will. Three approaches (summary slide posted on course website) (neo-) mercantilism, Imperialism, old (lenin) and new (dependency: states & markets. The need for leadership (a hegemon): hegemonic stability theory.
