Mar 15 - ; it is a normative agreement among major players...

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International Political Economy
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Competing Paradigms: Liberalism Core assumption: gains from trade benefit all states ; must resist temptation to engage in protectionist measures
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Competing Paradigms: Realism Core assumption: trade is often not undertaken among equal partners; trade widens the gap between the rich/poor states, powerful/less powerful states
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Mercantilism / Neomercantilism Mercantilism: 16th-19th c. Wealth is finite, zero-sum struggle to amass wealth by states Enter Ricardo and Adam Smith: Wealth is NOT finite Neomercantilism: 20th-21st c. Wealth is not finite, but must consider impact on employment, favors trade surplus
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Other factors…. . Autarky: A policy of economic self- sufficiency, not relying on imports, especially in critical areas (food, arms, energy)
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Economic Structuralism Gains from trade are unevenly distributed, not just among states , but also among classes Trade will not eliminate disparities, rather they will persist and widen over time
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Constructivism The trading regime is constructed
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Unformatted text preview: ; it is a normative agreement among major players (Bretton Woods, Washington Consensus) Washington Consensus A development strategy favored by leading donor countries and organizations, advocating open economies, free trade, and minimal interference by the state in the economy of former communist countries. Feminist Critique Economic policies made largely by men at state level and fail to recognize differential impact on women and children Effects of globalization vary: What may be beneficial for the state may be bad for women and children; What may be beneficial for men, may be bad for women and children What works for women and children? Economic gains for women improves quality of life, education, health and life expectancy of children. Microloans China in Africa From 1999-2005 Trade increased 6x by 2010, 20x ($100b) What do our paradigms tell us? liberalism realism economic structuralism feminism...
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Mar 15 - ; it is a normative agreement among major players...

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