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38 Cards in this Set

  • Front
  • Back
International Political Economy
Where power and money cross borders
stats should reduce vulnerability and maximize wealth by domestically producing as much as possible... Create surplus stocks of goods and curency
*use wealth to promote industrial development and strenthen gov/army
*dominant policy in 19th c. europe
*states need to be stong and secure (reduce vulnerability)
*IOs and other nonstate actors do not matter. they do not threaten states
* states are dominant actors
*state is not important
*IOs and MNCs are key
*state power is limited to interdependence in international system
reletive gains
*stressed by merchantilasim
*states use wealth against you, therefore you need more than them.
*trade is an even trade, then no one wins
absolute gains
*states wont always use wealth against you, as long as you get something good out of it
*also called radicalism
*social harmony can not exist
* states are not unitary actors.
economic warfare
*cut off states
*not common
*cuts one state from sone of the goods you produce or do not let one or some of thier goods into your domestic market
*more common
can the state just get item from another state?
can they only get this item from you? how much will it hurt you if this state dosnt buy your item?
we can now break out in *economic war because we are interdependant... and military conflict is less likely
*states are competition
*warfare has become costly and economics are more important
*more realist than liberal
command economics
where government makes producion decisiouns. karl marx
free market
liberals. suply and demand at work. adam smith
intervention tools
*do it yourself
*centralized r and d
* subsidized research
*government purchases
*regulatory protection
industrial policy
the support of an industry or industries bu the government.
*subltle and aids certain industries.
military spending
social programs
guns and butter debate: realists
you need guns to protect your butter
g and b: liberals
you neeed to provide for an exonomic infrastructre and a healthy educated population
g and b: marxists
elites use defense spending to stilulate economy but still keeps social welfare from geing distributed fairly.
how much does the us spend on defense?
3-4 % of GDP
economic liberalism
economic interactions that emphasize, free markets, privite propetey and free flow of goods, labor and capitol across borders
hwo quickly do the behaviors of other actors or decelopments in one part of the world, effect actors in other parts of the world and how big are these changes
costs imposed on a state by external events. these costs must be absorbed because alternatives policy options are unavailable
*very few states pursure pure free trade or pure autarky.. instead they have some degree of protectionism of domestic porducts and services.
non-tarriff barries
regulations on what can be imported in, and quotas
free riders
those who benneffit from a collective good without having to contribute.
public goods production
how to get free riders to do things.
*coercion (are they bigger than you)
*education (let them know that what they are doing is wrong
rules to overcome free ride problem
*a set of rules that govern behavior in some specified area of international relations
Bretton woods
tried to replace gold as the common currency for exchange
global agreements on trade tarriffs.
*based on free trade and nondiscrimination
*institutionalized discussions and mediation
regional economic integration
*create larger domestic markets
*bigger may be better
*goal is to create a single market out of many markets
the road to the EU
*started with european coal and steel companies (ecsc)
*failed european defense community (edc)
*treaties of rome
* cusomes union
*ec (european community)
*ec expands to 9, then 12,
*single eurppean act (sea)
*currently 25 members
benefits of the eu
*a system whereby each european currency was valued relative to another and all together they floated against the dollar
*more stable than free floating
a process by whiche economic, political nd cultural transactions are less and less constrained by national boundaries and sovereign autority of the national govenment
globalization: old
has been happening for centuries
clobalization: new
techonology has redefined it, long distance trade and travel make globalization easier