11 Chapter 09-Trade water

Freemarketsareundemocratic

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Unformatted text preview: s of Relative stability – UK and US Realist Prescription Realist Prescription • Maximize autonomy • Selective Liberalization/ protectionism. Favor allies, sanction enemies. • Reduce the costs of hegemony by demanding “burden sharing” – stop “free riding” Social­Protectionist Objections to Social­Protectionist Objections to pure Neoliberalism • Markets Fail • Booms and busts inevitable in capitalism – Hidden costs – “externalities” Example: pollution, job loss – Social costs – labor markets not perfectly fluid •Certain groups b...
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