Global Political Economy
1st debate- War and Peace correct answers Early 1900's- war, liberalism/realism, IO's
(International Organizations) emerge. What causes war? How do we keep peace
instead of going to war?
Liberals- We can all get along.
Realism- War is inevitable.
2nd debate- Scientific Method and finding absolute truth. correct answers 1950's-
Behavioralism, scientific method (make an observation, make a hypothesis, test the
theory, collect evidence, come to conclusions.
1960's- Realist critiques, world systems theory, development. This was the end of
colonialism so a lot of new states were introduced into the system, many of which were
poor and poorly run.
1970's- IPE, debt crisis, Neorealism (looks at the structure of the international system
and creating alliances, who your friends are matter).
3rd debate- There is no absolute truth. There are many different factors. correct
answers 1980's- Critical theory, economic liberalism
Context is important.
Economic Liberalism: All about the free market.
1990's- GPE, transnationalism (international) vs. statist (only me)
2000's- Constructivism, identity politics
Constructivism- A complicated sense of identity. Who you are is impacted by the
environment around you.
Lairson and Skidmore Reading correct answers Crisis is not contained to individual
states anymore. If one state has a crisis, it will effect other states and have an
international effect.
We have vested interest in the fate of other countries (currency issues)
States (governments) are heavily involved in managing globalization and economic
issues/economics in general.
Domestic Political Economy correct answers Economy determines the fate of political
leaders
State intervention is common (capitalist vs. communist states)... US, Vietnam,
Airbus/McDonald Douglas
International Political Economy correct answers Hegemon (one powerful state, the
bouncer)- Role and dangers of hegemonic decline.
Development issues and inequality
, Mexico and NAFTA
Interdependence and Trade Conflicts correct answers The smaller and poorer
countries will not have the same resources and advantages
Economic Liberalism (neoclassical view) correct answers Liberal= Free market
Invisible hand and everyone benefits
Lack of government intervention
Support from business interests
Solutions: Free trade
Problem: Inequality due to other power structures in the international system
Mercantilism correct answers Main: State intervention
Self preservation
Relative power
Supporters:
Military and economic planners
You don't want other countries creating your tanks
Solutions:
Protectionism
Problems:
Inefficiencies, inequalities
Radicalism correct answers Main: Capitalism is biased
Dependent development emerges. Some states dependent and reliant on other states.
Focus: Inequality
Supporters:
Marxist
Solutions:
Communism?
Socialism?
Problems:
Hard to eliminate capitalist elements in the global economy
Internationalization (Scholte) correct answers Cross border interdependence
Focus is still on states
Hirst/Thompson and Rodrick View
Trend is continuing from earlier times
Critiques:
What's new? Internationalization and trade has been happening for centuries
Ignores social/cultural components
Liberalization (Scholte) correct answers Free markets
No government intervention
Free movement of people
1st debate- War and Peace correct answers Early 1900's- war, liberalism/realism, IO's
(International Organizations) emerge. What causes war? How do we keep peace
instead of going to war?
Liberals- We can all get along.
Realism- War is inevitable.
2nd debate- Scientific Method and finding absolute truth. correct answers 1950's-
Behavioralism, scientific method (make an observation, make a hypothesis, test the
theory, collect evidence, come to conclusions.
1960's- Realist critiques, world systems theory, development. This was the end of
colonialism so a lot of new states were introduced into the system, many of which were
poor and poorly run.
1970's- IPE, debt crisis, Neorealism (looks at the structure of the international system
and creating alliances, who your friends are matter).
3rd debate- There is no absolute truth. There are many different factors. correct
answers 1980's- Critical theory, economic liberalism
Context is important.
Economic Liberalism: All about the free market.
1990's- GPE, transnationalism (international) vs. statist (only me)
2000's- Constructivism, identity politics
Constructivism- A complicated sense of identity. Who you are is impacted by the
environment around you.
Lairson and Skidmore Reading correct answers Crisis is not contained to individual
states anymore. If one state has a crisis, it will effect other states and have an
international effect.
We have vested interest in the fate of other countries (currency issues)
States (governments) are heavily involved in managing globalization and economic
issues/economics in general.
Domestic Political Economy correct answers Economy determines the fate of political
leaders
State intervention is common (capitalist vs. communist states)... US, Vietnam,
Airbus/McDonald Douglas
International Political Economy correct answers Hegemon (one powerful state, the
bouncer)- Role and dangers of hegemonic decline.
Development issues and inequality
, Mexico and NAFTA
Interdependence and Trade Conflicts correct answers The smaller and poorer
countries will not have the same resources and advantages
Economic Liberalism (neoclassical view) correct answers Liberal= Free market
Invisible hand and everyone benefits
Lack of government intervention
Support from business interests
Solutions: Free trade
Problem: Inequality due to other power structures in the international system
Mercantilism correct answers Main: State intervention
Self preservation
Relative power
Supporters:
Military and economic planners
You don't want other countries creating your tanks
Solutions:
Protectionism
Problems:
Inefficiencies, inequalities
Radicalism correct answers Main: Capitalism is biased
Dependent development emerges. Some states dependent and reliant on other states.
Focus: Inequality
Supporters:
Marxist
Solutions:
Communism?
Socialism?
Problems:
Hard to eliminate capitalist elements in the global economy
Internationalization (Scholte) correct answers Cross border interdependence
Focus is still on states
Hirst/Thompson and Rodrick View
Trend is continuing from earlier times
Critiques:
What's new? Internationalization and trade has been happening for centuries
Ignores social/cultural components
Liberalization (Scholte) correct answers Free markets
No government intervention
Free movement of people
