Class 13

Class 13 - What is this Globalization business? In 1800,...

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What is this Globalization business? In 1800, most economies were similar Europe/NA diverged from rest in next 150-180 years Big changes in last 20-30 years Huge growth in (some) developing economies (China and India) These economies have become relatively stronger in world economy Growth not smooth (Depression in B/US, Cultural Revolution and invasion of C by J in C) Two main themes Economy involves political decisions Economic processes affect state power and domestic interests Therefore, there’s no such thing as a “free market” Politics/state power is involved every step of the way Globalization is neither new nor irreversible Globalizaton is subject to political decisions Frieden: “globalization is a choice, not a fact” Basic principles of International Political Economy What is “the economy” What do states care about in economic terms? How do states make economic policy Why do we trade? Economy = GDP
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Class 13 - What is this Globalization business? In 1800,...

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