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psci 2102 exam review - dec1 version.docx

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Political Science
PSCI 2102
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EXAM REVIEW The exam is standard4 out of eight or ten short identify and tell the significance of guanoThen one generic big scary question about the course and one scary question to be applied to any country in the global south Usually four choices eachQuestions are big huge open ended questions on a big theme like corruptionNo surprises no gotcha questionsMODERNIZATION THEORYDeveloped core countriesscholars wanted to explain why some countries were less developed peripherymodernization theory came out of this periodoeconomies of all countries could be arranged on a scale from least to most developed look at five stages of how this development occurredodualism developing economies have both traditional sector agricultural which is undeveloped as it falls outside capitalist system and modern sector intertwined with world capitalist market process of development involved the modernization of traditional sectorsomething was distorting the proper operation of the market including cultural inferiority political instability etcBUT unilinear only describes what happens in certain early industrialized countries ahistorical etcDEPENDENCY THEORYDependency theory is complex and extends across different time periodbeliefs range from those who sought minimal reform and development within a capitalist dependent relation to those who sought to exit the system altogetherbut these are general shared beliefsoriginated out of failure to reproduce in the periphery the economic and social benefits of embedded liberalism had achieved for the corerejects dualismtraditional sector also part of world capitalist market ie during colonialism and then through dependent trade relationsThere is not a unilinear trajectory of developmentoin fact present situation of underdevelopment is product of historical and developmental sequence colonialismounderdevelopment cannot be explained simply in terms of internal factors but must account external factors such as colonialism trade relations etcperipheral development extraverted exportled deformed colonial legacy of feudalism dependent relation of unequal power of asymmetry of controlcapitalism must be looked at as a world system and must look at historical contextsAt first periphery embarks in internaloriented development such as ISI importsubstitution industrialization to alleviate dependency on exports but this fails hyperinflation dirty wars debt because technology must be imported and it is expensive other branches of dependency theory examine thisDo not only look at nations as the unit of analysis but at classes within these peripheral nationsasks what is the pattern of land ownership Who owns the means of productionCapitalism is not the only mode of production but coexists alongside feudalism ie haciendas lordserf relationsColonial extraction of resources did not develop domestic capitalist class or expand internal market for further capitalist developmentinstead allowed increased concentration of land ie feudal latifundiaexportoriented economy national bourgeoisie are importhungry and dont investothese patterns of investment reproduce marginalization of masseslow wagesrestricted internal marketunequal exchange goods from core are higher techmore expensive produced at higher capacity agricultural products face sticky demand problemleads to declining terms of tradeWhen globalization and neoliberalism internationalization of capital begin to develop in late 1970s dependency theory looks atagain modes of production beyond confines of nation stateinternational division of labouroneoliberal flexibilization of labour crushing unionsounderdevelopment is reproducedofinance development in periphery through debtexternal vulnerabilityostructural adjustment programsWashington consensus where IFIs have their headquartersNEOLIBERALISMembedded liberalism neoliberal project was to disembedded capital from these constrains instead it applied othersstrategy privatization liberalization and deregulationoderegulation examples Removal of remaining capital controls Removal of restrictions on corporations Selfregulation Flexibilization of the labour marketoBut states are still important normalize ideology of neoliberalism enforce implementation of neoliberal programs and cradles and manages financial flows disseminates market information and creates legal certainty to support functionalityfinancial firefightingbank of international settlements and Basel framework regulations and lender of last resort too big to failsocially changes in delivery of services overall configuration of welfare spending notion of public inefficiency erosion of tax base welfare needs change due to rising inequalitycardinal feature of neoliberalism assumption that individual freedoms are guaranteed by freedom of the market and of trade rational subjects responsible for achieving own well beingafter failures of keynesianism neoliberalism not inevitable or an obvious solution no one really knew or understood with any certainty what kind of answer would work and how ocapitalist world stumbled towards neoliberalization as the answer through a series of gyrations and chaotic experimentswhen neoliberal principles clash with the need to restore or sustain elite powerprinciples either abandoned or become so twisted as to become unrecognizableocontradictory freedomsbad freedoms to exploit ones fellows make inordinate gains without commensurable service to the community keep technological innovations from being used for public benefit or to profit from calamities secretly engineered for private advantagegood freedoms conscience speech meeting association choose ones own jobbut these are eventually lost and the bad ones take overincreasing social inequalitypersistent feature as to be regarded structuralkey difference between liberals and neoliberal practice under the former lenders take the losses that arise from bad investment decision under the latter the borrowers are forced by state and international powers to take on board cost of debt repayments no matter what the consequences for the livelihood and wellbeing of the local population ie Latin American debt crisis and structural adjustment programsIn Latin America after ISI and commodity exports failed and led to debt crisisIFIs imposed structural adjustment programs structural adjustment programs oWashington consensus where IFIs have their headquarters10 policiesgovernment is badderegulation privatization
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