POLI 243 Chapter Notes -Market Failure, Moral Hazard, Public Choice

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The theory of hegemonic stability : the view that concentration of power in one dominant state facilitates the development of strong regimes and that fragmentation of power is associated with regime collapse. Doesn"t explain lags between changes in power structures and changes in international regimes. Doesn"t account for the differential durability of different institutions. Avoids addressing the question of why international regimes seem more extensive now in world politics than during earlier periods. Doesn"t take into account the different level of demands for each international regime. The more concentrated power is in an international system, the greater the supply of international regimes at any level of demand - microeconomic approach. Systemic theory: actors" characteristics not considered as variables, changes in outcomes explained not on the basis of variations in these actor characteristics but on the basis of changes in the attributes of the system itself.

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