Textbook Notes (363,693)
Canada (158,533)
POL114H5 (32)
Jurgensen (13)
Chapter 4

Detailed Textbook Notes Chapter 4

9 Pages
Unlock Document

Political Science

Chapter 4: Political Perspectives on the World Economy Introduction to International Political Economy Development of modern capitalism in Europe and its subsequent global expansion established European dominance in global economy by 17 centuryh U.S. became dominant state actor in world economy after world wars & decline of European imperial power Today capitalism remains primary socioeconomic system Principles of liberal economics guide theory behind institutions (IFIs) and banks, and corporations For advocates of livery economics spread of capitalism is seen as positive phenomenon Bring greater wealth and quality of life to worlds population Reducing prospects for war as trade & investment promote international interdependence and cooperation CRITICS World economy is unfair, unstable, & unsustainable Rich vs. poor Polarizing of wealth seen as inevitable outcome of evolution of global capitalism Economic Politics Ascendant Focus: interaction between political and economic forces Politics drives economico sr economics drives politics Ie. U.N. is a political institution YET through work of development agencies (World Bank & International Monetary Funds), it is also an economic factor Economic matters can transcend political matter and VICE VERSA Example of separation of commerce from politics occurred in Crimean War (1854-56) London banks floated loans for Russian government WHILE England was at war with Russia www.notesolution.com
More Less

Related notes for POL114H5

Log In


Don't have an account?

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.