Key Concepts in International Relations and Political Economy

These flashcards focus on key vocabulary terms relevant to International Relations and economics as discussed in the lecture.

Neoliberalism

An economic and political ideology that emphasizes free markets, privatization, deregulation, and limited government intervention in the economy.

Dual Circulation

An economic strategy that calls for both domestic and international markets to be leveraged simultaneously to maximize economic efficiency.

Ethic of Care

A feminist perspective in international relations advocating for empathy, compassion, and relationship-building in politics.

Commercial Theory of Peace

The idea that trade and economic interdependence between countries can lead to global peace, reducing the likelihood of war.

Gunpowder Revolution

A military transformation in the 16th century that marked a shift from close combat to warfare reliant on firearms, significantly changing the nature of armies and warfare.

Mutually Assured Destruction (MAD)

A doctrine of military strategy that posits if two opposing sides have the capability to destroy each other with nuclear weapons, neither side will initiate a conflict.

World Trade Organization (WTO)

An international organization established to regulate international trade, promote free trade, and ensure fair trade practices among nations.

The Tragedy of the Commons

An economic theory that describes how individuals acting in their own self-interest can deplete shared resources, leading to long-term collective ruin.

Feminist Foreign Policy

A political approach that emphasizes the inclusion of women in policy-making, addressing gender-based violence, economic emancipation, and gender equality in international relations.

IMF (International Monetary Fund)

An international organization that provides loans, monitors currency stability, and promotes global economic cooperation.