Everybody p181 why is it that a hegemon is needed in

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everybody. (p.181) Why is it that a hegemon is needed in order to create a liberal world economy? It has to do with the nature of the goods that it provides.
(p. 181) What is free riding? What is the problem with free riding? Free riding is making use of the goods without paying for them. (p.181 What are the two major historical examples of liberal hegemons? Great britain during the late nineteenth and early twentieth century; and the United States after the Second World War. (p.181) What are the four major institutions of a postwar liberal market economy? The IMF, the World Bank, the General Agreement on Tariffs and Trade (GATT, now replaced by the WTO), and OECD. (p. 182) What is soft power? Getting others to want what you want. (p. 187) The Marxist approach to IPE has concentrated on the issue of? (p. 188) Summarize the liberal economic development theory (see box 7.7) Traditional society---------- Modern society (p.189) What is the starting point for dependency? underdevelopment (p.189) Underdevelopment is a process within the of the global capitalist system to which developing countries have been subjected: thet have been underdeveloped as an intentional by-product of the development of the West. (p. 190) Summarize the dependency view of underdevelopment (see Box 7.8)
Underdevelopment is due to external, primarily economic, forces; these forces result in crippled and distorted societal structures inside Third World countries. To overcome underdevelopment, a delinking from external dominance is required. (p. 190) What countries in Asia are called the four tigers?
(p. 193) Summarize the modern mercantilist view of development (see box 7.10)

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