Neoliberalism Flashcards
What does liberalism challenge realism for?
Challenge realist pessimism by using realist assumptions. An anarchic environment of self interested, egocentric actors did not necessarily impose debilitating realist constraints on cooperation. Neoliberals see anarchy as a vacuum gradually being filled with human created processes and institutions which have started to control outcomes and ensure survival.
How did interdependence play a role in global connection?
Modern technological and industrial advances allowed this. Participating in interaction leads to many benefits for a country, for example, trade factors in to be a huge part of a country’s economy and brings various goods and services which would be costly if one severed ties. It also sets the stage for historical development. For example, states have a common interest in preventing the depletion of environmental resources. This problem is not confined within particular national boarders and cannot be solved through domestic power politics. Thus co operation with other countries is essential.
Why do neoliberals value hegemonic stability?
Stabilises world affairs according to US preference. This included the UN system which was to serve as an umbrella for cooperative relations across many different issue areas. Formal institutions such as the IMF or International Bank of Reconstruction and Development support US principles of capitalist economic and free trade system. These institutions backed up by American economic resources which lead to US exerting greatest influence which furthers US self interest.
What are barriers to international co operation?
1) States fail to co operate because they lack information about each other’s true preferences. They fear that others will take advantage of a cooperative arrangement by cheating. Concerned others will freeride on the back of their co operative measures. Self interested states are weary of one another’s
2) One country will gain greater for competitive purposes. Cannot trust the future actions of partners, actors will avoid potential agreements if they involve different pay off
