POL101Y1 Chapter Notes - Chapter 4: International Political Economy, World Bank, Mercantilism
Document Summary
Chapter 4 political perspectives on the world economy. Critics argue world economy is unfair, unstable and unsustainable. International political economy, ipe: the study of the politics behind the economic relations among peoples and nations in order to assess their relative wealth and power. London banks gave loans to the russian gvt, even though they were at war. Realists characterize ipe as low politics rather than high politics . Ascendance of political economic issues in global politics is cause by: increasing global interdependence, the decline of the us economy, the rise of other state economics, the rise of multinational corporations, mncs, the oil shock. Organization of the petroleum exporting countries, opec: european integration, growing awareness of global disparities, collapse of the soviet union. State is the most important actor in international economic affairs. Whether state a gained wealth relatively more greater than state b. Mncs or ngos don"t really have influence or power because they operate according to.
