POLSCI 2J03 Chapter Notes - Chapter 1: World Trade Organization, Friedrich Hayek, Immanuel Kant
18 Apr 2016
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Chapter 1 theories of global political economy. Origin of school of thought: emergence and expansion of the nation-state in europe in the 15th century (cid:1) world and that each state must secure its interests by blocking the economic interests of other states. Mercantilists: there was only a limited amount of wealth in the zero-sum game one state"s gain is another state"s loss. 2 famous advocates: alexander hamilton (founding father) and (cid:1) State is the main actor in the global political economy. Notion stemming from 2 assumptions inter-state is anarchical and it is therefore the duty of each state to protect its own interests. Economic policy should be used to build a stronger state. Market relations are shaped by political power. Recognizes importance of market-based actors such as firms, (cid:1) (cid:1) but subordinate to that of the state (cid:1) actions of rational states (cid:1) power dominates the international system. International political economy is constituted through the.
