POLSC 135 1st Edition Lecture 15 Outline of Last Lecture: Homework RevisitedOutline of Current Lecture: Guest Speaker & the StateCurrent Lecture:I. Guest Speaker- Essential message was to stay current, connected, and informed. In the field of international relations, understanding other cultures, norms, and societies is something that is absolutely necessary.II. What do states do? - War Making: Eliminating or neutralizing their own rivals outside the territories in which they have clear and continuous priority as wielders of force. - State making: Eliminating or neutralizing their rivals inside those territories.- Protection: Eliminating or neutralizing the enemies of their clients or supporters. - Extraction: Acquiring the means of carrying out the first three activities (taxation) III. Limits to State Predation - Don’t want to tax too much because this inhibits investment. - To benefit from voluntary compliance. - Regulate their predatory instincts by compromise to reduce the costs of conducting business and by taking a smaller portion of a larger pie.- Obviously, not all states were successful in limiting their predation in this way, and asa result, the character and consequences of rule exhibited quite a variety across early modern Europe. (ex. England [democracy] vs. France [autocracy]) IV. State of Nature Again- Can cooperation occur in the state of nature without the state? - We saw that “refrain was not possible in the state of nature in a one-shot game. - But, what if the players repeatedly interacted with each other? V. Discount rate- Discount factor- tells us the rate at which future benefits are discounted compared with today’s benefits. - Essentially, it tells us how much people care about the future. - Discount rate is bounded, that is, 0 < discount rate < 1End Lecture.These notes represent a detailed interpretation of the professor’s lecture. It is best used as a supplement to your own notes, not as a
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