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38 Cards in this Set
- Front
- Back
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International Political Economy
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Where power and money cross borders
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Mercantilism
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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 |
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realism
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*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 |
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liberalism
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*state is not important
*IOs and MNCs are key *state power is limited to interdependence in international system |
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reletive gains
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*stressed by merchantilasim
*states use wealth against you, therefore you need more than them. *trade is an even trade, then no one wins |
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absolute gains
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*states wont always use wealth against you, as long as you get something good out of it
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marxist
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*also called radicalism
*social harmony can not exist * states are not unitary actors. |
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economic warfare
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*cut off states
*not common |
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sanctions
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*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 |
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substitution
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can the state just get item from another state?
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vulnerability
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can they only get this item from you? how much will it hurt you if this state dosnt buy your item?
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geo-economics
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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 |
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command economics
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where government makes producion decisiouns. karl marx
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free market
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liberals. suply and demand at work. adam smith
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intervention tools
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*do it yourself
*centralized r and d * subsidized research *government purchases *regulatory protection |
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industrial policy
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the support of an industry or industries bu the government.
*subltle and aids certain industries. * |
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guns
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military spending
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butter
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social programs
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guns and butter debate: realists
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you need guns to protect your butter
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g and b: liberals
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you neeed to provide for an exonomic infrastructre and a healthy educated population
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g and b: marxists
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elites use defense spending to stilulate economy but still keeps social welfare from geing distributed fairly.
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how much does the us spend on defense?
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3-4 % of GDP
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economic liberalism
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economic interactions that emphasize, free markets, privite propetey and free flow of goods, labor and capitol across borders
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sensitivity
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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
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vulnerability
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costs imposed on a state by external events. these costs must be absorbed because alternatives policy options are unavailable
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Protectionism
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*very few states pursure pure free trade or pure autarky.. instead they have some degree of protectionism of domestic porducts and services.
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non-tarriff barries
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regulations on what can be imported in, and quotas
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free riders
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those who benneffit from a collective good without having to contribute.
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public goods production
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how to get free riders to do things.
*coercion (are they bigger than you) *rewards *education (let them know that what they are doing is wrong |
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regimes
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rules to overcome free ride problem
*a set of rules that govern behavior in some specified area of international relations |
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Bretton woods
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tried to replace gold as the common currency for exchange
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gatt
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global agreements on trade tarriffs.
*based on free trade and nondiscrimination *institutionalized discussions and mediation |
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regional economic integration
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*create larger domestic markets
*bigger may be better *goal is to create a single market out of many markets |
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the road to the EU
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*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 |
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benefits of the eu
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*a system whereby each european currency was valued relative to another and all together they floated against the dollar
*more stable than free floating |
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globalization
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a process by whiche economic, political nd cultural transactions are less and less constrained by national boundaries and sovereign autority of the national govenment
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globalization: old
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has been happening for centuries
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clobalization: new
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techonology has redefined it, long distance trade and travel make globalization easier
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