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Unformatted text preview: October 5, 2009 INTRODUCTION TO INTERNATIONAL POLITICAL ECONOMY MEREDITH HUBER Ps 186 LECTURE 2 Current Events: European Union used to be European Common Market. Now has 27 members, mechanisms of governance has been shifted to the EU. Any treaty among the EU must be ratified by every government. Ratification is done by the National parliament; Ireland differs because it has to be put to the public. I reland has accepted the Lisbon Treaty only Poland and the Czech Republic who have yet to ratify it. What does this mean if the Lisbon Treaty is ratified? Power will shift to the commission center in Brussels and the European Parliament. This represents a further shift from national governance to governance at the regional level. I t was started as an economic project, now there is a basis of government in the EUacquired European law The changing distribution of power in the World Economy o The economic growth of Chinait has established not only Chinas economic position but their political as well o The EU changes the distribution of power drastically Lisbon Treaty calls for a PRESIDENT of the European Union and provides for the appointment of a FOREIGN SECRETARYnow exists at the Union level, not just the national level. Istanbul Turkey: Annual meeting of the World Bank and the IMF (Britton Woods twins) Analytical Perspectives on I nternational Political Economy : Three Key Perspectives (A way of looking at the worldunderstanding of how the world works) 1. Liberalism 2. Realism (statism, economic nationalism, mercantilism) October 5, 2009 INTRODUCTION TO INTERNATIONAL POLITICAL ECONOMY 3. Marxism (structuralism, historical materialism) Analytical Perspectives on I PELiberalism [ADAM SMITH, Wealth of Nations] Liberalismthe move to liberate economies from the hand of government, Economy would function and grow under the invisible handoutcomes superior to anything dictated by government. Liberalism is understood as a perspective equivalent to US conservatism the government should get out of the market. Markets will produce net-gain (positive sum gaingains will outweigh the losses). The world is a POSITVE-SUM GAME. Government gaingains will outweigh the losses)....
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- Spring '08