PSCI 230X Final Flashcards
the political economy is the study of what and what
power and wealth
what is the study of power and wealth among states and other international actors
International Political Economy
according to realism what is greater than wealth
power
according to realism why is wealth important
it can buy power
what would the policy prescription be for someone prescribing to realism (2)
states should build and guard their wealth for security and power
usually in the form of some kind of managed interdependence
for a realist, what are the goals domestically and internationally
domestic protection
international superiority
according to liberalism what is greater than what
wealth is greater than power
what are the general tenets of liberal IPE theories
Due to human nature, wealth > power
Collective prosperity, absolute gains
what is the policy prescriptions of liberal IPE theory
states should cooperate to build wealth and spread capitalism
the policy prescriptions of Liberal IPE theory explains that states should cooperate to build wealth and spread capitalism. what are the four specific ideas associated with the spread of capitalism
minimal domestic market regulation
international free trade based on comparative advantage
free movement of goods money and people
harmonize policies internationally
when questioning why states trade with one another, what do economic liberals place emphasis on
comparative advantage (specialization)
when questioning why states trade with one another, economic liberals place emphasis on comparative advantage and what else (2)
spreading and engaging in free trade internationally
free trade in land labor and goods
what is the concept of comparative advantage
everyone focus on what they are good at
what is the concept of competitive advantage
which advantage do economic liberals focus on
comparative advantage
which advantage do economic nationalists focus on
competitive advantage
what can be used to create competitive advantage according economic nationalists
trade barriers
what is a tariff
taxes on imports
what are examples of non tariff barriers
subsidies
quotas
embargos and sanctions