Lecture 1 POLS2402 (Intro)

Lecture 1 POLS2402 (Intro) - Globalization &...

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1. Introduction: the international dimension of political economy and state-market relations 2. International liberalism: the orthodox advocacy of free trade 3. 3. National autonomy and non-integration: keynesian, nationalist and mercantilist approaches to internationalization 4. The postulation of global accumulation: marxian theories of capital and politics Contemporary trends and issues 5. The history, phases and logic of global capitalism 6. An international division of labour, multinational corporations, the strategic focus of producers and structural change in the advanced economies 7. Labour: problems and contradictions with mobility, society and organization 8. Capital flows, financial crisis and attempts to control finance since Bretton Woods 9. Trade: ‘as free as possible, as constricted as necessary’? Conceptual controversies in international political economy 10. The state and industry: the emergence of neo-mercantilism as a conservative critique of globalization 11. China: a Beijing consensus? 12. The ‘dark side of globalization’: neo-liberal globalization as economic and political failure
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What is political economy? Examination of the relations between (and tensions between) markets as the major criteria for economic activity and politics as a mandator/ facilitator of economic activity. The 3 different political (intellectual traditions) deal with this relationship differently: Liberal political economy claims wealth is enhanced by market mechanisms (free enterprise, free trade, individual decisions, minimal political interference); it obviously prioritizes freedom and claims that this is the best guarantor of development/ prosperity. Marxian political economy also claims that market mechanisms and free enterprise (unimpeded capitalism) have been responsible for wealth-generation, but claims that capitalism’s success is compromised by its exploitative (& anti-democratic) aspects and by its perpetual crisis tendencies – which will eventually be responsible for its demise. National or conservative political economy , sometimes referred to as the mercantilist perspective, claims the liberal economists underestimate the importance of politics in economic development; the tradition isn’t too worried about exploitation but claims orthodoxy simply doesn’t want to acknowledge that the state always played a major role in wealth-creation. (It also assigns a role to ‘producer sovereignty’.) When applied to the global /international realm, these 3 traditions, still differ: Liberalism claims globalization is inevitable and desirable; marxism claims globalization is inevitable but undesirable; and conservatism claims globalization is neither inevitable nor desirable.
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Lecture 1 POLS2402 (Intro) - Globalization &...

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