Study your flashcards anywhere!

Download the official Cram app for free >

  • Shuffle
    Toggle On
    Toggle Off
  • Alphabetize
    Toggle On
    Toggle Off
  • Front First
    Toggle On
    Toggle Off
  • Both Sides
    Toggle On
    Toggle Off
  • Read
    Toggle On
    Toggle Off
Reading...
Front

How to study your flashcards.

Right/Left arrow keys: Navigate between flashcards.right arrow keyleft arrow key

Up/Down arrow keys: Flip the card between the front and back.down keyup key

H key: Show hint (3rd side).h key

A key: Read text to speech.a key

image

Play button

image

Play button

image

Progress

1/128

Click to flip

128 Cards in this Set

  • Front
  • Back
_________ are intellectual descendents of _________
realists, mercantilists
Realists and mercantilists are the same i.r.t. the market in that...
State wants to and can intervene in the market in pursuit of national interests
Realists and mercantilists are the same i.r.t. states in that...
Emphasis on strength and security to reduce vulnerability
Realists and mercantilists are the same i.r.t. non-state actors in that...
They don't matter
Realists and mercantilists are the same i.r.t. production in that...
Everything should be produced within the state
Mercantilism
Domestically produce as much as possible to reduce vulnerability and maximize wealth
Mercantilists argue that states pursue...
Relative gains
Liberals argue that states pursue...
Absolute gains
What do mercantilists think about trade?
Export, try not to import
What do liberals think about the state in IPE?
It may be important, but it shares the stage with some significant others
What do liberals think about state power in IPE?
Traditional forms are not always effective, because they are limited by interdependence
What do liberals see the potential for in IPE?
Harmony
What do liberals think states pursue in IPE?
Absolute gains
What forms the basis of liberal theory in IPE?
Private property and individual contracts
What motivates individuals, according to liberals in IPE?
Self-interest
What do liberals think is good for states in IPE?
International market and trade
Autarky
Economic self-sufficiency
What does an autarky not do?
Trade with the outside world
The more self-sufficient a state is...
...the less vulnerable it is to economic coercion
What is autarky the opposite of?
Free trade
What is free trade the opposite of?
Autarky
Liberals believe in what kind of trade setup?
Free trade
Unlike liberals, what do Marxists believe?
Social harmony (absolute gains) can't be achieved across classes
Unlike mercantilists, what do Marxists believe?
States are not unitary actors
Like realists, what do Marxists believe?
You should be suspicious of "cooperative" economic arrangements between states, especially those at different stages of development
In economic arrangements between states, who do realists believe benefits most?
The most powerful states
In economic arrangements between states, who do Marxists believe benefits most?
International capitalist class
What are the key alliances in IPE to Marxists?
Rich owners of MNCs in various countries
Actions or threats to disrupt economic exchange unless target state modifies behavior as demanded
Economic coercion
2 types of economic coercion
Economic warfare, sanctions
2 types of economic warfare
Political isolation, use of military force
Sanctions are usually...
...a ban on trade
What are 2 examples of countries that the UN has sanctioned?
South Africa, Iraq
The costs imposed on an actor by external events
Vulnerability
What is vulnerability contingent on?
A state's position in the system
Who is the least vulnerable?
The most powerful
How quickly changes by one actor in one setting bring about changes in another, and how great the effects are
Sensitivity
Asian financial crisis:
The currency contagion quickly spreads as many other countries see the effects
Sensitivity
Asian financial crisis:
Stock markets collapse in Asian countries, deep recession hits
Vulnerability
What is the middle ground between realists and liberals?
Geo-economics
What do geo-economists think is important for state's military strength?
Industrial and technological development
What do geo-economists think are key elements of national interest?
Domestic economic priorities
How is geo-economics like realism/mercantilism?
States are in perpetual competition
How is geo-economics like liberalism?
Warfare costs more, economics more important
Sectors of society that benefit from spending on national defense
Military industrial complex
Follow-on imperative
As one company stops producing a weapons, it gets a new weapons contract
2 market alternatives
Command/control economy, free market
An economic system in which decisions about goods and services are planned ahead of time
Command economy
Critics of command economy argue that...
...planners cannot detect demand with sufficient accuracy
Controversial model of an idealized economy, wherein exchanges are "free" of all coercive measures
Free market
A situation in which markets do not efficiently organize production or allocate goods and services to consumers
Market failure
2 main reasons that markets fail
inadequate expression of costs or benefits in prices, sub-optimal market structure
The set of arrangements whereby the gov’t assists certain industries (sometimes called “national champions”) that are deemed to be crucial to the nation’s economic strength
Industrial policy
What do liberals say about guns vs. butter?
you need to provide for an economic infrastructure and a healthy, educated population
What do realists say about guns vs. butter?
you need guns to protect and create your butter
What do Marxists say elites do with defense spending?
Use it to stimulate the economy
Liberals believe that a large defense budget...
...saps the nation's economic health
Principles of economic interaction and organization that emphasize the importance of private ownership, free markets, and the unhampered flow of goods, capital, and labor both within and between national economies
Economic liberalism
Economic interactions that emphasize free markets, private property, and free flows of goods, labor, and capital across borders
Economic liberalism
Trade balance
imports - exports
If exports less than imports...
...no native industry developed
A policy of restricting, but not eliminating, imports in an effort to protect the economic viability of domestic industries
Protectionism
Middle of spectrum of trade practices
Protectionism
Taxes or duties levied on an imported good in order to raise revenue or to regulate the flow of foreign goods into a country
Tariffs
§ Makes a particular imported item more expensive to purchase and fewer will be sold relative to similar domestic goods
Tariffs
3 types of non-tariff barriers
Quotas, boycott, embargo
Control imports not through prices, but through the amount of goods permitted to enter a country from a specific source for a specific time period
Quotas
States cease to buy from another state
Boycott
Stop sales of economic items to another state
Embargo
Cut the target state off from its markets
Boycott
What do Marxists say elites do with defense spending?
Use it to stimulate the economy
Liberals believe that a large defense budget...
...saps the nation's economic health
-Principles of economic interaction and organization that emphasize the importance of private ownership, free markets, and the unhampered flow of goods, capital, and labor both within and between national economies
Economic liberalism
Economic interactions that emphasize free markets, private property, and free flows of goods, labor, and capital across borders
Economic liberalism
Trade balance
imports - exports
If exports less than imports...
...no native industry developed
A policy of restricting, but not eliminating, imports in an effort to protect the economic viability of domestic industries
Protectionism
Middle of spectrum of trade practices
Protectionism
Taxes or duties levied on an imported food in order to raise revenue or to regulate the flow of foreign goods into a country
Tariffs
Makes a particular imported item more expensive to purchase and fewer will be sold relative to similar domestic goods
Tariffs
3 types of non-tariff barriers
Quotas, boycott, embargo
Control imports not through prices, but through the amount of goods permitted to enter a country from a specific source for a specific time period
Quotas
States cease to buy from another state
Boycott
Stop sales of economic items to another state
Embargo
Cut the target state off from its markets
Boycott
Cut off state’s supply of resources from outside
Embargo
If a good is supplied to any member of a group, it is supplied to all members of a group (indivisible)
Jointness of supply
If new members are added, the old members won’t receive a diminished amount
Jointness of supply
Can’t be withheld from members of the group
Nonexclusiveness
The complete set of rules that govern behavior in some specified area of international relations
Regime
What is something that could help overcome the free rider problem?
Regime
What is a positive aspect of a regime?
Regularization of behavior, so creation of patterns
Designed to help states manage their exchange rates, maintain their reserve currencies used as a common medium of exchange, and regulate the movement of international capital
International monetary regime
What did Bretton Woods create?
A system of fixed exchange rates
What did Bretton Woods create to maintain its other creation?
IMF
What was GATT based on?
Free trade and nondiscrimination
What did GATT create?
WTO
What was the central feature of the world trade regime?
GATT
Examples of regional economic integration
EU, NAFTA
What is the goal of regional economic integration
Create larger domestic markets
The goal of regional economic integration is to...
...create a single market out of many markets
Are realists pro or anti regional economic integration?
Pro
Are liberals pro or anti regional economic integration?
Anti
Maastricht treath
Created the Euro
Currently how many members in EU?
25
The snake
Each European currency valued relative to another, all floated against dollar
Pro of Euro
Increase economic efficiency
Con of Euro
Surrender policy autonomy to common authority
A grouping of national economies that impose a common set of tariffs on imports from countries outside the group
customs union
Government economic policy converges to what market dictates
Harmonization
Transnational relations
interactions that bypass the governments of states and impact directly on their domestic environments
What do socialists say about globalization?
It is exploitation of poor by rich
What do environmentalists say about globalization?
Globalization is way of circumventing environmental laws
What do labor unions say about globalization?
Fear losing jobs to cheaper overseas labor
Components of human development
economic, social/political, human
OECD
the wealthy
A perspective that attributes underdevelopment in the Global South to the features of traditional society, which will become transformed over time
Modernization theory
What is the disparity caused by in modernization theory?
"traditional elements"
What is the disparity caused by in dependency theory?
"international structure"
Periphery
Has resources but no way to process them
Core
extracts resources from poorer states
Dependence
Only stronger power gains
Interdependence
Mutual gains
Import Substitution Industrialization
substituting domestically manufactured goods for imported ones
G-77
Underdeveloped countries trying to negotiate better trade with industrialized
Economic arrangements more favorable to the South, including commodity price stabilization, development assistance, and debt relief
NIEO
A strategy of specializing in the production and export of select manufactured goods in the hopes that other industrial sectors will also benefit
export-led industrialization
The extension of very small loans to unemployed, poor entrepreneurs and others living in poverty who are not bankable
micro-lending