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25 Cards in this Set

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--relationship between power and wealth (two most important themes)
--the study of the intersection of politics and economics that illuminates the reasons why changes occur in the distribution of states’ power and wealth
International Political Economy
—comes from liberal economy thought
--the concept in liberal economics that a state will benefit if it specializes in those goods it can produce comparatively cheaply and acquires through trade goods that it can only produce at a higher cost
Comparative advantage
—government is just police state; “let do”; liberal economy thought; driving force of economy is market
--commercial liberals used to describe the advantages of free-wheeling capitalism without government interference in economic affairs
Laissez-faire
—decrease imports and increase exports to make nation stronger; balance payment surplus by using tariff and non-tariff barriers
--a contemporary version of classical mercantilism that advocates promoting domestic production and a balance-of-payment surplus by subsidizing exports and using tariffs and non-tariff barriers reduce imports
Neomercantilism
measures that discriminate against imports without direct tax levies and are beyond the scope of international regulation
Non-tariff barrier (NTB)
—not strong enough to compete; each country has its own competitive industries; should be protected so they can develop
--a newly established industry that is not yet strong enough to compete effectively in the global marketplace
Infant Industry
—create barriers (tax/non-tax) to foreign trade that protect local industries from competition
--a policy of creating barriers to foreign trade, such as tariffs and quotas, that protect local industries from competition
Protectionism
—dominant power in world politics
--the ability of one state to lead in world politics by promoting its worldview and ruling over arrangements governing international economics and politics
Hegemon
the proposition that free trade and interstate peace depend on the existence of a predominant great power willing and able to use economic and military strength to promote global stability
Hegemonic stability theory
everyone can enjoy and no one can be excluded from (air, transportation, defense, etc.)
Collective good
those who enjoy the benefits of collective goods but pay little or nothing for them
Free-rider
the processes for determining the rate at which each state’s currency is valued against the currency of every other state, so that purchasers and sellers can calculate the costs of transnational financial transactions such as foreign investments, trade, and cross-border travel
Monetary policy
—sometimes more important than monetary policy
--the rate at which one state’s currency is exchanged for another state’s currency in the global marketplace
Exchange rate
levels of 1) credit (exports, profits from foreign investment) and 2) debts (imports)
Balance of payment
a system in which a government sets the value of its currency at a fixed rate for exchange in relation to another country’s currency (usually the U.S. dollar) so that the exchange value is not free to fluctuate in the global money market
Fixed Exchange Rate
Market forces, rather than government actions, are expected to adjust the relative value of states’ currencies to reflect the underlying strengths and weaknesses of their economies.
Floating Exchange Rate
pessimists who warn of the global ecopolitical implications of uncontrolled population growth
Neo-Malthusians
optimists who question limits-to-growth analyses and contend that markets effectively maintain a balance between population, resources, and the environment
Cornucopians
how political actors influence perceptions of, and policy responses to, changing environmental conditions, such as population density
Ecopolitics
a concept recognizing that environmental threats to global life systems are as dangerous as the threat of armed conflicts
Environmental security
economic growth that does not deplete the resources needed to maintain growth
Sustainable development
the phenomenon producing planetary warming when gases released by burning fossil fuels act as a blanket in the atmosphere, thereby increasing temperatures
Greenhouse effect
--the use of threats or limited armed force to persuade an adversary to alter its foreign and/or domestic policies
--Bush administration
Coercive diplomacy
the liberal theory that lasting peace depends on the deepening of liberal democratic institutions within states and their diffusion throughout the globe, given the “iron law” that democracies do not wage wars against one another
Democratic peace
the tendency of states to view the defensive arming of adversaries as threatening, and when they arm in response, everyone’s security declines
Security dilemma