54 Cards in this Set
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where did IPE come from and what dominated IR?
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cold war, fear of nuclear war
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what do we study in IPE?
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international trade
international development
foreign direct investment
north-south relations (developed vs. developing)
regionalism
globalization
domestic politics and international economy
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what is the oldest school of thought in IPE?
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realism
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what does realism have strong influence on and not strong influence on?
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strong influence on post wwii US foreign policy
not strong influence on IPE itself
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goals of realism
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-security
-military power
-self-interest (dont care about cooperation
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realism and international trade brought about the age of what?
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mercantilism
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mercantilism and goal for trading
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-related to power, wealth, trade
-make other countries dependent on their exports (US) and minimize imports
-want to be self sufficient
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what state exemplifies mercantilism now?
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china-minimizing imports, maximizing exports
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what does trade surplus do?
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increases power
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which two protectionists are related to realism and the industrial revolution?
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Alexander Hamilton and Fredrich List
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what did the industrial revolution change focuses towards?
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development of human capital
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development of human capital:
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-build up our own workforce(what if we go to war with countries that import?)
-innovation
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liberalism and IPE
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-bottom up approach
-focuses more on the individual
-through the protection of the individual, society can benefit
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classical/orthodox liberalism
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-laissez-faire economics
-emphasis on free trade
-focus on absolute vs. relative gains
-role of international organizations and regimes
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absolute versus relative gains
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·Absolute gains: what your country is actually getting
·Relative gains: comparison of how much you’re getting versus what another country is getting
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keynesianism
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mixed economy
mainly private sector with moderate government and public sector
government creates safety net for individuals and corperations
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complex interdependence
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multiple channels of connectivity through interstate relations
absence of hierarchy among issues (unlike realism)
declining use for military power and coercion
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is all interdependence positive? why/why not
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no, asymmetrical interdependence
powerful states use coercion to reach goals
imbalance of political and economic powers as well as trading partners
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what type of approach is marxism?
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domestic
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marxism:
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Focus on the domestic struggle of the working class through a dialect approach (Hegel)
The proletariat vs. the bourgeoisie
People who do the labor don’t end up getting the profit- it’s the bourgeoisie
The contradictions of capitalism will bring about its downfall
Not focused on the in…
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how did we move from the marxist society to dependancy theory?
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industrial revolution
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how does imperialism fit into capitalism
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o Imperialism is inevitable in a capitalist society
o Exportation of capital and investment in colonies
o Buying off the labor aristocracy (who are they?)
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According to John A. Hobson, whatre the two main problems in a capitalistic society?
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-low wages of the lower class lead to under-consumption
-over-saving by capitalists also lead to under-consumption
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dependency theory:
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o Or, “when interdependence is a bad thing”
o Latin America, 1950s-1970s
o Combination of Marxism and structuralism
§ Distribution of wealth
o Focus on keeping the “third world” underdeveloped
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three zones in dependency theory
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core, semi-periphery, periphery
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bretton woods
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-post war monetary system
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What came out of Bretton Woods?
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1. IMF
2. World Bank
3. WTO (the process for this came together at Bretton Woods.
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IMF
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would monitor exchange rates and lend reserve currencies to nations with balance-of-payments deficits
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World Bank
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, was responsible for providing financial assistance for the reconstruction after World War II and the economic development of less developed countries.
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friedmans flatting world idea
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-globalization
-"levels" playing field when it comes to commerce
-all actors need to remain competitive in the global market
-historical and geographical divisions are becoming irrelevant
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is globalization a theory?
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no, its a trend.
-acceleration of integration and interaction among people, companies, and governments of different states
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globalism
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flows and influences of capital goods, information and ideas, people and forces, environmentally and biologically relevant substances
-must include multi-continental distances
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which two people focused on the idea of globalization?
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Koehane and Nye (friedman had the flattening idea)
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is the presence of a hegemon necessary for regime formation?
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yes
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regimes
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-cannot be created without the presence of hegemon
-presence of hegemon is sufficient condition for regime continuation
-regimes CAN exist after the fall of a hegemon
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what does the hegemon provide?
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-"absorbs" start up costs
-enforcement mechanism
-redistribution of benefits of the regime(everyone must benefit, but the regime dis-proportionally)
-political, economic, technological leadership
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how has this regime changed since 1944?
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IMF: created currency stability
-·Dollar system
o Every other currency was “pegged” to the American dollar so the exchange rates were adjusted every six months
§ Fixed exchange rate
§ Every US dollar was worth 1/35 oz gold
· Ends in august 1971-not willing to loan
o After…
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the bretton woods system:
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o Creates a stable exchange rate system (IMF)
o Promote free trade (GATT/WTO)
o Rebuild Europe after WWII (World Bank)
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how did the world bank rebuild europe post wwII?
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§ Beggar thy neighbor policies
· If one state increases their tariffs and other states follow, it closes off system
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where does cooperation come from?
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o Keohane’s After Hegemony (1984)
o Institutions help facilitate cooperation
o States are concerned with absolute gains
o Each state seeks to maximize its own gains
o Less concerned about gains and losses of other states
o Too many actors to be worries about relative gains
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how to achieve cooperation?
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o Cooperation under anarchy
o No centralized authority to establish and enforce rules (role of the hegemon)
o Cheating inhibits cooperation
o Prisoners dilemma is used to illustrate this problem
o Situations where cooperation provides mutual benefit to actors if they can rely on …
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the prisoner's dilemma: the set up
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o Two suspects are arrested, but the police have insufficient evidence for a conviction
o The prisoners are separated so they cannot discuss the deals/make and arranged agreement
o Each prisoner must choose to betray the other (defect) or remain silent (cooperate)
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what makes states cooperate?
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o 1) Previous interactions or reputation
§ Shared interests
o 2) hegemon which has the power
o 3) fear of punishment
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strategies (neoliberalism and cooperation)
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o Individual rationality leads to defection regardless of the other players move (no or less jail time, relative gains
o Pareto-suboptimal solution: rational choice leads the 2 players to defect, even though each players reward would be greater if they cooperated
Collective rationalit…
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The shadow of the future
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o Players will be cooperative if they know that their opponent can retaliate in future iterations
o Reciprocity/tit-for-tat
o If a state is a defector in one round, other states will “punish” by non-cooperation in the future
§ However reputations change
Reputations are important i…
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how does the prisoners dilemma relate to IPE?
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§ Cooperation on many issues: trade, development, monetary policy (G8/G20)
§ Usefulness of sanctions (Oil for Food, Cuba)
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does the shadow of the future ever really end in relation to IPE?
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we dont really know
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Anarchy (realist or neoliberal)
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neoliberal= reciprocity (deterrent or cooperate)
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what ends in 1971 and why
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-US dollar convertibility into gold
-not willing to loan
-o After hegemony
o Handing out loans to countries who are experiencing currency crisis
o Conditionality: spending, trade liberalization, cutting debt
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Achieving Cooperation Under Anarchy: Strategies and Institutions
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By: Robert Axelrod and Robert O. Keohane
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neoliberalism focuses on what
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cooperation under anarchy
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globaloney
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critics of globalization. states and geopolitics remain principal actors and forces in shaping order (Krasner 1999)
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hegemony insists
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consent on the part of weaker powers, which enables the dominant power to avoid overt coercion _ the mark of imperialism, from which it must clearly be differentiated
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why America is no longer a hegemon
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United States no longer dominates the global economy as it did during the first two decades after WWII, it still is the leading economic power in the world.
over the last few decades China, with all its internal contradictions, has made enormous leaps until it now occupies the number two…
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POLS 360: Exam 1