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11 Chapter 09-Trade water


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Unformatted text preview: ee of regulation – Problem of Monopolies – “Infant industries” Neoliberal Prescription Neoliberal Prescription • Domestic: Practice free trade • International: Promote Free Trade – Global – WTO – Regional – EU, ASEAN, Mercosur – Bilateral/Multilateral ­ Free Trade Agreements (FTAs) • Ameliorate some costs – Welfare state (safety net) – Anti­monopoly regulation – Infant industry protection Realist critique of Neoliberalism Realist critique of Neoliberalism • Strategically naive – “the capitalists will sell us the rope with which to hang them” (Lenin) • The problem of “relative gains” – relative power more important than absolute gains • Strategic trade – comparative advantage can be ‘manufactured’ Hegemonic Stability Theory Hegemonic Stability Theory • A Hegemon can guarantee economic stability •Oversees rules of the global economy •Promotes trade in its own interest – Hegemony can be self­defeating because of others grow faster than hegemon – Period...
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