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40 Cards in this Set
- Front
- Back
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What is IPe and why do IPE scholars criticize some economists and political scientists? What is the relationship between the state and the market?
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IPE = interaction between the state, a sovereign territorial unit, and the market, a coordinating mechanism where buyers and sellers exchange goods and services at prices determined by supply and demand
o State= political pursuit of power o Market= economic pursuit of wealth inherent tension between state and the market because the market's association with economic openness and the removal of state barriers poses a threat to state sovereignty |
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• Economism
• Politicism |
focusing too much on economics
devoting too much on politics and too little to economics |
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What is the importance of theory, and what are some of the main theoretical perspectives in IPE?
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need it to asset the broader implications of our statistical and factual studies
realist, liberalism, Marxism |
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Realism (IPE perspective)
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consider state tobe principal actor in IR
o IR= self help system without a centralized authority in which states must form alliances to prevent being dominated by others give priority to politics over economics o IR as zero-sum game, one states gain is another state’s loss focus onr elative gains |
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• Liberalism
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most important IPE perspective
o Liberal favor free markets, private property rights, and only a limited gov’t role in economic activities o View economic relationships as a positive-sum game in which all states benefit o Difference between IR and democratic liberals |
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Marxism
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historical materialist encompasses largest group of critical theories... it examines structural change over time, with an emphasis on class and sometimes North South struggles... also examines social change and analysis of capitalism
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• Globalization
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o Involves broadening and deepening of interdependence among peoples and states
o Increase flow of goods, capitol, and people… and faster communication and ideals o Not uniform throughout world… effects more urban centers o Not causing the state to wither away o Can result in fragmentation and conflict as well as unity and cooperation… cause competitiveness (relative position n global economy) • Deepening refers to greater frequency and intesnsity of state and societal interactions o State most important actor in IR |
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o Hypter=globalists
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believe that globalization involves the creation of a “borderless world” in which MNCs lose their national identities and regional and global markets replace national economies… state no longer factor
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o Internationalists
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opposite hyper= world is no more “global” than itw as in the 19th century.. see mainly as an economic phenomenon… states still in charge
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o Moderate globalists
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global linkages occure more frequently and also differentiate IR amongst states from global relations that take place w/o regard to territorial boundaries… world is globalizing and territorial and supraterritorial relations coexist
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o GNP
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records income according to who owns the factors of production rather than where the income is earned.. total value of goods and services produced by domestically owned factors of production
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o GDP
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(totaol value of goods and services produced within a country’s borders during a given year)
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o GNI
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GNP measures income produced by GNP rather than the value of product itself
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o LDCs
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o South includes all countries of Latin American, Asia, Africa, Middle East—mainly LDCs
o LDCs South Korea, Taiwan, Singapore and Hong Kong have high per capita income and competitive with DCs o Larg LDCs BRIC have growing degree of influence o 4 out of 5 billion people in LDCs today live in countires that are in fact developing… “bottom billion” are caught in a “development trap” |
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LLDCs
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least developed countries
sub sharan Africa and central asia- extremely low per capital gdp |
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BRIC
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brazil russia india china
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• Bretton Woods Conference
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1944 44 countries endorsed framework for international economic cooperation after WWII
o IMF and World Bank resulted from conference o And also General Agreement on Tariffs and Trade (GATT) o Avoid trade protectionism which contributed to 1930s Great Depression and WW II o Have to be aware of fluctuations in international markets (depression in other countries) |
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• Mercantilist Period
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o Acutely aware of linkage between politics and economics viewing both power and wealth to build up their armed forces, hire mercaneries, and influence enemies and allies
o Accumulated gold and silver o Colonialism central provided raw materaials and served as markets for its manufacturing |
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o British Hegemony
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mercantilism 19th century… repealed Corn Laws which had restricted agricultural imports
decided to liberalize agr. Trade due to industrial gropus gained seats in British Parliament externally Britain opened its markets to agr. And raw material imports s o that other countries would accept its manufactured good o Free trade Cobden Chevalier Treaty between Britain and France |
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After WWI U.S. imposed Trade tariffs to Europe allies . which ones
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Fordney McCumber and Smoot-Hawly Act... rested trade war
oResult Congress passed Reciprocal Trade Agreements Act (RTAA) in 1934 gave president tariff-setting authority.. resist special interest pressure negotiate reduction |
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o Bank for International Settlements (BIS)
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first financial IO established to oversee settlement of German rearations after WWI promote cooperaton among central banks
now serve as the bank for central banks |
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• Why did U.S. chose multilateral versus British unilateral
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o Wasn’t a strong international consensus in the U.S.
• Conflict between nationalists and internationalists • Nationalists= Midwestern farmers.. didn’t care international markets • U.S. has enough resources… protectionism • Contradicts we should not adopt international goal • So much supply in U.S. … WWII suddenly U.S. is dominant in market • WWII became military super power • People’s interest now changed… coalition formed behind internationalism |
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Why does British hegemony decline?
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not master hard and soft technologies in electricity, chemicals and continuous flow production
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Why does British hegemony decline?
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not master hard and soft technologies in electricity, chemicals and continuous flow production
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Boom in cars caused what four problems?
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1. productivity and contintuous flow produciton... sudden changes in AD and required large investment in machinery
2. return of displacement competition.. displace production system in other countries 3. problem food shortages from global depression... opened up to exports.. closed window on eccardian development... exports to dev eloped countries agriculture slowed hurt 4. could global trade and monetary systems consistent with domestic political and economic stability be recreated and by whom? US lacked solid domestic backing that British provided for Britain's role... political maneuver gin in US that created a domestic coalition willing to support a limited international role |
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What two paradoxes did American hegemony in the IE reflect after 1945?
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US possessed an unparalleled level of economic, moral, and military superiority but US pursued a more cooperative style of leadership... US constructed series of Multilateral international organizations in which US pre eminence but not dominance was assured
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What three intertwined political and economic factors militated against an effort at a unilateral US hegemony
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politically no US domestic consensus for an IR existed... Economically US did not want to focus on free movement of capital... midwestern heavy industries successfully stalemated efforts to assert US leadership by a second, more internationalist group
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What two groups of firms and farmers created political deadlock 1930s
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nationalists = firms and farms exclusively towards domestic market... steel coal iron machine factories banks that financed and midwestern farmer... farmers supported subsidies on exports
internationlists= made up car firms, electrical/consumer electronics oil... sold majority ind domestic markets and also in competitive in world markets second group saw how helping europe or IE 1930s |
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What did the RTAA do?
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Reciprocal Trade Agreements Act = shifted negotiating power over tariff levels from Congress tot he president, bypassing the vested interests that had passed the highly restrictive Smoot - Hawley Tariff in 1930... before Roosevelt devalued and delinked US from gold standard
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How did nationalist and internationalists change after the war?
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natioanlists = conceded need for keynesian policy (tax cuts) and also removed solely isolationist role
internationalists= pushed for strong presence overseas... also security internationalists = wanted to expand the state but wanted more gov't spending and tax... wanted a strong US presence overseas but feared power of labor unions |
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What did the National Labor Relagtions (Wagner Act) do
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SC affirmed 1937... confirmed the legality of unions and established conditions for collective bargaining... reinforced by Fair Labor Standards Act (min wage 40 hour work week)
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What role did IMF have around WWII
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act as a lender of last resort, supervising and supporting fixed exchange rates among currencies...
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What role did IBRD / WOrld bank and OECD (organization for european economic cooperation)
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help european economies recover from war
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OPEC
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organization of petroleum exporting countries... 1960 is a group of LDC oil exporters that acts as a resource cartel to manipulate oil supplies and prices. OPEC posed a major challenge to DCs in 1970s when it limited oil supplies and drastically increased prices
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G20
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formed in 1999 and it became a permanent forum for informal dialogue among "systematically important" developed and emerging economies... try to reach a consensus on economic and financial issues shape international agenda and lead by example
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United Nations Conference on Trade and Development (UNCTAD)
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maximize the trade, investment and development opportunities of developing countries and assist them in their efforts to integrate into the world economy on an equitable basis." (from official website). The creation of the conference was based on concerns of developing countries over the international market, multi-national corporations, and great disparity between developed nations and developing nations.
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World Economic Forum (WEF
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The meeting brings together top business leaders, international political leaders, selected intellectuals and journalists to discuss the most pressing issues facing the world, including health and the environment.
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what is a civil society and what are the theree types
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wide range of non gov't, noncommercial groups that seek to either reinforce or alter existing norms, rules and social structures.... conformist, reformist and transoformist/rejectionist
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WHat is hegemony?
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extrmeely unequal distribution of power, in which a single powerful state controls or dominates the lesser states in the IS
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What is a collective action problem?
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occurs when the uncoordinated actions of individuals or states does not produce the best possible outcome for them
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