POL SCI 5 Study Guide - International Political Economy, Comparative Advantage, Free Trade
Document Summary
& us, the new hegemon, pushes the idea of free trade to their advantage still the dominant idea but sometimes point to protectionist policy as neo-mercantilist policy (protecting domestic industries from imports) Liberalism (dominated in the study of political economy because it has been dominant in the dominant states in the int"l field) Liberals believe pursuit of self-interest can still lead to harmony: mercantilist: government should be strong and involved, central govt. to maximize interests, direct different industries to export. Gap between rich and poor countries has grown over time but if we look at slightly differently, bottom rise more hopeful. Postwar economic order as a result of twin realizations coming from liberal trade and leadership & many int"l economic institutions to hold up this order (ex. Gat wto- help manage and promote global free trade; Imf; world bank (international bank on reconstruction and. Development) institutions set up to help global economy.
