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Unformatted text preview: PS 186 Midterm Review (1) Define the concept, (2) discuss theoretical positions (3) State its significance and offer a critical appraisal (strengths and weaknesses). Cite relevant readings whenever possible. IPE Definition: A multidisciplinary subject that demonstrates the intersection of International economics and International relations. It focuses on the way politics and economic welfare interact with each other in an environment of constant change. The dynamic and reciprocal relationship between the pursuit of wealth and the pursuit of power [Robert Gilpin]. States are the center of power in IPE Theoretical Position: IPE looks to Realism, Marxism and Liberalism (as well as their sub-theories) to explain the interaction between sovereign states and international economic trends and development. The three main tenants are: states, markets and societies. In order to understand a states actions you have to look at what is driving the state. In an ever globalizing and inter-connected world IPE looks to international economics, comparative politics, international relations, sociology, anthropology and history to derive a thorough understanding of states actions. Significance: The study of IPE elevates the importance of international regimes and presumes that states, multinational corporations and other powerful actors attempt to use their power to influence the nature of international regimes and thus concerned with relative gains. Gilpin notes that the study of IPE has, led to the fear the economic globalization and the integration of national markets are destroying or could destroy the political, economic and cultural autonomy of national societies. PAX BRITANNICA Definition: British Peacethe rise of British industrial and military power. Focuses on the emerging European-centered international system. The rise of Britain was due to the industrial revolution and the expansion of exports, as the hegemonic power they ruled the economic market as well as dominated the political sphere. Significance: It was based upon liberal principles primarily run by Britain: The gold standard, free trade, the balance of power. CLASSICAL GOLD STANDARD Definition: The monetary system developed by Britain after the Napoleonic Wars, the primary years of the international gold standard was 1875-1914. Each national currency was freely convertible into gold (i.e. countries would set their currencies to an amount of gold). There was an international fixed exchange rate in which countries allowed free import and export of gold. It broke down during the First World War Significance & Critical Appraisal: The international gold standard was significant in the economic expansion of Great Britain as the hegemonic power . It relied on an international system of credits in which money from wealthier countries was...
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This note was uploaded on 06/06/2010 for the course POL S 186 taught by Professor Cohen during the Winter '10 term at UCSB.
- Winter '10