Britain and free trade

Britain and free trade - Britain and free trade : Realism :...

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Britain and free trade : Realism : Krasner and Lake readings Krasner : open market depends on economic and political power , if there is a hegemonic actor for whom the regimes is beneficial we will see more free trade . Example of Britain: after the Wars with France, Britain is a big actor and wants free trade the Cobden Chavalier Treaty. Accepting openness : the hegemonic actor’s role is symbolic ( new econ. Develop. Can be achieved ) military capabilities : coerce weaker states into an open structure and economic capability ( most important one, use of resources to create an open structure, big domestic market and cheap export , political power David Lake : focusing on the US to explain the structure of the American foreign policy. There are 3 actors on the scene, hegemonic actor, supporter and spoiler. Responsibility to maintain the structure is determined by the position of the state in the structure. Kindleberger’s Hegemonic Theory : Leader ships was a form of altruism. Responsibility to maintain the system is determined by the position of the actor within the international economy. Maintain open market for goods Counter cycling long term lending Discounting in a crisis Manage the exchange rates
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Britain and free trade - Britain and free trade : Realism :...

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