10.16 - 10/16/07 The Expansion of the International Economy...

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10/16/07 The Expansion of the International Economy Bilateral Bargaining -2 observations 1. Many of these problems are multilateral prisoner’s dilemmas -through repeated encounters, bilateral bargainers claim that over time, states will learn to cooperate 2. The question of Market Failure -claim that market failure is much less prevalent than claimed -trade can be very discriminatory, tariffs raised against some and not others -market failure is a much more private affair than public -does not claim that the other two levels are wrong, merely to suggest that their absence may not be as catastrophic as it would seem -attempts to explain and modify their shortcomings, not disprove them Intro and Overview of International Political Economy Political Economy -States and markets, power and wealth -the market: extraordinarily powerful and efficient method of trade, thousands of decision makers acting independently of each other -also has some negative aspects -the market has nothing to say about value & distribution
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This note was uploaded on 03/05/2008 for the course GOVT 1817 taught by Professor Katzenstein, p during the Fall '05 term at Cornell.

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10.16 - 10/16/07 The Expansion of the International Economy...

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