Political Science 2231E Chapter Notes - Chapter 8: International Political Economy, Economic Liberalism, International Trade
13 Dec 2016
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Document Summary
The great volume of international trade reflects the fact that trade is profitable. Trade is not only an economic issue but a highly political one too. International political economy studies the politics of international economic activity: focuses on trade, monetary relations and multinational corporations, two topics of special interest: Economic integration of europe and other regions. Two major approaches in ipe: mercantilism. Shares the realist view that each state must protect its own self-interest at the expense of other states. Emphasizes relative power: the importance of economic transactions lies in their implications for the military: economic liberalism. Generally, shares with liberal liberalism a belief in cooperation to realize common gains. States can mutually benefit from economic transactions. Dominant approach in western economics and more so microeconomics than in macro: marxism. Treated as a third approach in ipe. Attuned to economic exploitation as a force that shapes political relations.
