Frbruary 13

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Political Science
Jeffrey Kopstein

Political Science, February 14. Postwar Reconstruction (Growing the global economy) In the paper, we have to compare. You need to be able to describe them, but we only have 5 pages to do it. Accent on COMPARE. Half of it talks about VALUES AND POLICY. Comparing requires you to do some serious thinking. COMPARE COMPARE, similarities and dissimilarities, unit of analysis, individuals vs. system. Best analogy, people say you can’t compare apples and oranges, but you can. Asia’s rise Government intervention they created strategic policies, to create comparative advantage (TSMC) government bought technology, founded the university and invested into the firm. Infant industry protection Alexander Hamilton, how is America going to grow its firms? You have to protect your infant industry by making foreign competition more expensive, by increasing tariff barriers and putting a tax on foreign goods( manipulate the market to encourage citizens to buy their own products ) Picking and making market winne rs These are small economies( Taiwan, Korea) picked sectors they thought they could do well in, and they picked things good for their industry and slowly advanced, and paid attention to what market wanted American patronage Americans helped them out a lot, provided military support, largest naval fleet in Japan to protect from communist expansion, amount of aid given to just o Korea was more then half of the aid given to the whole African continent, bought Korean products Development stat e Only best and brightest were invited, and these industries had extraordinary power, they had the power Export oriented growt h they needed to export, they have small markets (25- 40 million of people) these economies were plugged into the market economy ( they sold more then they bought, and essentially benefited from the global economy) Outlier or Model? Market regarding – Smith Mercantilist – List Hamilton predicated to government Dependent development – Lenin and Wallenst einForeign aid, economy , and military There is tremendous complimentary between these theories (Market regarded economies that took seriously supply and demand) They plugged into the global market at good times At the end of 19tcentury average GDP growth was 2.5%. WWI, WWII 1%, 1950-1960 4.2%, 1960-1970 5.3% The world Wars: A devastating turning point WWI – 15 million people died WWII – 50 million people died (Number of deaths in Korean and Vietnam war of American soldiers was 110 thousand people) Not only humans died, physical destruction was devastated, the economic infrastructure th that was developed in 19 century was destroyed. What was it about WWI and WWII that made global growth double, how did they shape post war reconstruction, what lessons did we learn from these lessons, and how did these lessons shape this post war period? These wars set up the economy we live in today. World War I Rise of Germany o Germany was the leading steel production by the latec1 th e9tury, and was engaged in naval arms race with England, Germanys economic growth rate was double of that in England, as a result England was begin to be a little nervous, paranoid and isolated. Alliance formation o Germany forms alliance with Austria, Serbia starts a war, and Germany helps out o England forms an Alliance with France and Russia; by doing that they could balance the rising power that was in Germany. Isolationism/expansionism Power transition moment 1919 Treaty of Versailles and Germany’s defeat o Officia
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