INTERNATIONAL POLITICAL ECONOMY

Question 1

WHAT IS IPE

Answer 1

Study connection between pols and ec beyond national borders.
Helps understand how pol shapes ec and how ec shapes pol->there domestic link between 2.
Approach study world ec from interdisciplinary perspective.
Connection bet states, mark and society

Question 2

AUDIENCE COURSE

Answer 2

Looks at how domestic constituents effect the choices a country will make in the international arena.
In economy, environment, politics, security, energy, etc.

Question 3

ECONOMIC NATIONALISM AND REALISM

Answer 3

The world divided into categories-> core, semi-periphery, periphery.
Why? Why do countries (esp. periphery) struggle to develop? -> slowed down by core control->major debt bc aid from core

Question 4

REALIST GROUPS OF ECONOMIC NATIONALISM/MERCANTILISM

Answer 4

States main actors
States unitary and rational (decisions off careful, cost-ben. analysis)
Anarchy
i.r. characterized by enduring conflict and comp=0-sum game.
Not only in west-> japan Phil of separating pol and ec for a more effective monetary system

Question 5

KEY ASSUMPTIONS AND ARGUMENTS OF ECONOMIC NATIONALISM

Answer 5

Economics=pol tool to gain pol pow
Ec activity should be subordinate to prim. goal of creating strong state.
Int. ec. arena of comp.+ conflict.
Ec. interactions bet. states=0-sum game-> no country really ben. bc all looking for relative gain.
State=key player in int. syst.
Sec. interests=priority

Question 6

LIBERAL ROOTS OF ECONOMIC LIBERALISM

Answer 6

Individuals=main actors-> A. ec. dec. influenced by community, western influenced by individualism.
Progress exists-> history+evolution=prog.
Mutual gain->bc indi. Inclined peruse self-interests through free+cooperative relations that will result in MG
Lib.dem+cap=ideal pol+ec org.
Adam Smith

Question 7

KEY ASSUMPTIONS AND ARGUMENTS OF ECONOMIC LIBERALISM

Answer 7

Society=openmarket->characterized by free.to prod.+exchange g+s w/i +bet. states-> w/o gov interference=basis human peace, prosperity+prog.->promotion individualism.
Mark.ec=autonomous->ec. never be sub to pols
Laissez-fairy ec doctrine->mark free from unwarranted pol restrictions
State=watchman->individuals main players (bc they producers, workers, traders)
Invisible hand of market-> potential to ben everyone->try reduce conflict by trying accommodate everyone=positive-sum game (bc everyone will gain, even if one gain more than other)
Absolute gain
Role of state=creating favorable conditions for mark to thrive

Question 8

ROOTS OF STRUCTURAL PERSPECTIVE OF IPE

Answer 8

Roots in K.Marx ideas->today=diverse scholars (Dependency Theory, World Systems Theory, Lenin’s Theory of Imperialism).
Structure in structuralism=glob ec syst ->seen as driving force shaping and constraining all other aspects of life (soc, pol, economic institutions).
Moral critique on inequalities and exploitive tendencies of cap->resonates with realities of world.
Looks at perspective of oppressed-> looks for solution

Question 9

MARX ON HISTORY OF CAPITALISM

Answer 9

Cap=nec evil stage->bc creates conditions for higher level soc order.
Marxism=economic determinism->at every point history, the soc +pol organisation of society determined by existing ec structures+relationships

Question 10

KEY ASSUMPTIONS OF MARXISM/STRUCTURALISM

Answer 10

Class det by ownership (or lack) of capital.
Relationship bet 2 classes char by conflict->.: conflict key char of cap.
Capitalist class control state